Stocks in Focus on April 19: Mindtree, Jubilant FoodWorks, INEOS Styrolution, AU Small Finance Bank, Varroc Engineering and many more

The equity benchmark at the Indian stock markets, the Sensex and Nifty, on Monday, April 18, 2022, plunged around two per cent. Domestic stock indices declined for the fourth session in a row amid weak cues from other Asian global share markets. The BSE Sensex closed below 57,200 points while the Nifty 50 ended below the 17,200 level. The Sensex lost 1172.19 points, or 2.01 per cent to finish at 57,166.74. The Nifty also tumbled 302 points, or 1.73 per cent, to settle at 17,173.65. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, April 19, 2022. List of such Stocks:

Q43FY22 Result

Mindtree: Mid-tier IT services company Mindtree on Monday reported an 8.11% QoQ rise in the consolidated profit at Rs 473 crore for the quarter ended March 31, 2022. It had posted a profit of Rs 437.5 crore in the previous quarter ended December 31, 2021. Consolidated revenue from operation rose 5.34% QoQ to Rs 2,897 crore as compared to Rs 2,759 crore posted in the previous quarter. EBIT rose 3.78% QoQ to Rs 549 crore as compared to Rs 529 crore posted in the December quarter. The margin dropped to 18.9% in Q4FY22 as against 19.2% posted in Q3FY22. The company in a statement said, it doesn’t see any significant softness in the European market and also does not see any aspect of demand slowing down in near future. Besides, the Board of Directors of the Company has recommended a Final Dividend of Rs 27 per equity share for the financial year ended March 31, 2022. In addition to this, the company will increase its investment in Metaverse.

Stocks in News

Jubilant FoodWorks: Ex-date of the stock split from the previous Rs 10 to the new face value of Rs 2.

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L&T/LTI/Mindtree: Larsen & Toubro Infotech has termed the news reports of a merger between Mindtree and L&T Infotech as speculative. In its clarification, the company said at present, we do not have any information that is required to be disclosed.

INEOS Styrolution India: Promoter INEOS Styrolution APAC Pte Ltd has proposed to sell 25,32,330 equity shares ( representing a 14.4% stake) of the company via offer for sale (OFS) issue. It has also kept an option to additionally sell 16,88,220 equity shares (9.60% stake) via the OFS. The OFS will open for two days - April 19 and April 20. The floor price for the Sale shall be Rs 800 per Equity Share. 

AU Small Finance Bank Ltd: The Board of Directors of the Company is scheduled to meet on April 26, 2022, to consider the audited financial results of the bank for the quarter and fiscal year ended on March 31, 2022, as well as the proposal for issuance of Bonus Shares subject to requisite approvals. It will also consider and recommend a dividend on equity shares for the financial year ended March 31, 2022. 

Varroc Engineering Ltd: The auto component maker, reportedly, can sell its global lighting business Varroc Lighting System (VLS) at an enterprise value of up to $65 crore to a leading European component maker to pare its debt. After the deal, the company will become a debt-free company. 

Ujjivan Financial Services: Radhakrishnan Ravi has been appointed as Chief Executive Officer (CEO) & Chief Financial Officer (CFO) of the company effective from April 19, 2022. 

Rail Vikas Nigam/Coal India: RVNL has entered into an MoU with Mahanadi Coalfields Limited (MCL), a subsidiary of Coal India Limited, for entrusting Project Management Consultancy for Rail Infrastructure works of MCL to RVNL from concept to commissioning.

Indraprastha Gas: The company has received a letter from the Petroleum and Natural Gas Regulatory Board (PNGRB) for a grant of authorization to the Company for the development of the CGD network in the Geographical areas of Banda, Chitrakoot and Mahoba districts.  

Asahi Songwon Colors: The company on Monday announced the acquisition of 78 per cent stakes of Atlas Life Sciences Private Limited, a manufacturer of bulk pharmaceutical ingredients (APIs), for an all-cash consideration of Rs 48 crore. 

Biocon: Biocon Biologics, a unit of Biocon, reportedly has plans to raise $1.2 billion via an offshore loan. The proceeds would be used to fund the acquisition of biosimilar assets of US-based Viatris. 

BULK DEALS  

Eveready Industries: Puran Associates Pvt Ltd bought 76,534 shares on April 18, 2022, and increased its stakes in the company from 19.96% to 20.07%. 
Hariom Pipes: Bhatia Suresh HUF buys 1.60 lakh shares at Rs 242.55 per share. Societe Generale buys 2.5 lakh shares at 242.55 per share. Niraj Rajnikant shah sold 1.48 lakh shares at Rs 241.99 per share. Societe Generale sold 3.25 lakh shares at Rs 242.55 per share. EKL Park fund limited sold 1.70 lakh shares at Rs 242.55 per share. Belgrave investment fund sold 1.70 lakh shares at Rs 242.55 per share.
TVS Motors: Jwalamukhi investment holdings sold 32.62 lakh shares at Rs 650/share.