Newsmakers: Dredging Corporation, MapmyIndia, Indian Hotels, IFB Industries among top 10 stocks that moved most on February 2

The shares of the company closed in the green at Rs 380.05 with a gain of 13.36 per cent as per BSE. As per NSE, the shares of the company closed in green at Rs 381.55  with a gain of 13.17 per cent. Finance Minister Nirmala Sitharaman during her Budget 2022 speech announced that the draft DPRs (Detailed project reports) for five river links have been finalised. These are Daman Ganga-Pinjal; Par Tapi-Narmad; Godavari-Krishna; Krishna-Pennar and Pennar-Kaveri. Once the consensus is reached among the beneficiary states, the Centre will provide support for their implementation. Dredging Corporation is a leader in dredging technology and has a good order fulfilment record. It has- Opportunities for dredging of more than Rs 40,000 crore in river integration and has a 10% chance in dredging, canal maintenance every year. It is expected that the company has posted an income of Rs 4000 crore on an annual basis. The current average income of the company stands at Rs 800 crore. Source: dredge-india.nic.in

The shares of the company closed in the green at Rs 79.15  with a gain of 11.87 per cent as per NSE. As per BSE, the shares of the company closed in green at Rs 78.90 with a gain of 11.76 per cent. Union Finance Minister Nirmala Sitharaman has raised tariffs on imported headphones, loudspeakers, smart meters used by power distribution companies and solar panels as part of the budget proposals. Basic customs duty on smart meters increased from 15% to 25%. The company has a 70% market share in smart meters. It is the first company in Asia to supply 1.5 Mn smart meters. The additional director has a stronghold in the smart metering business. Scheider Electric and ITI are also in the business of smart meters. Source: genuspower.com

The shares of the company closed in the green at Rs 668.40 with a gain of 11.18 per cent as per BSE. As per NSE, the shares of the company closed in green at Rs 668 with a gain of 10.91 per cent. The luggage manufacturer has reported a consolidated net profit of Rs 33.5 crore for the quarter ended December 31, 2021. It had posted a consolidated net loss of Rs 7 crore in the same period last fiscal. Revenue from operations grew 70.9% YoY to Rs 397.3 crore against Rs 232.5 crore reported last year. EBITDA rose 7x to Rs 57.1 crore in the period under consideration against Rs 8.1 crore posted last year. Margins improved to 14.4% in Q3FY22 against 3.5% posted in Q3FY21. Source: vipindustries.co.in

The shares of the company closed in the green at Rs 1607.50 with a gain of 10.23 per cent as per BSE. As per NSE, the shares of the company closed in green at Rs 1,600.70  with a gain of 9.90 per cent. With the announcement of Drone Shakti in the Union Budget, the industry got a massive push after the liberalising of the Drone Rule in 2021. The government said start-ups will be promoted to facilitate Drone Shakti, with 'drone as a service. MapmyIndia will be benefited from the announcement as it uses advanced geo-analytics and is the largest location provider for drones. It is working on a drone-based technology solution. 10-15% of its order book comes from the government. The company's management has said that drones are expected to grow business a lot. Source: mapmyindia.com

The shares of the company closed in the green at Rs 149.25 with a gain of 4.99 per cent as per BSE. As per NSE, the shares of the company closed in green at Rs 148.80  with a gain of 4.97 per cent. Tata Teleservices (Maharashtra) (TTML) has decided not to convert its accrued interest on deferred AGR dues into government equity. IT said the amount to be converted as per the government's calculations stands at Rs195.22 crore, which is much lesser than its estimation of Rs 850 crore. On January 11, 2022, the company had told the bourses that it wanted to opt for equity conversion. (the news is positive for the company ). Source: Reuters

The shares of the company closed in the green at Rs 326.70 with a gain of 2.08 per cent as per BSE. An allocation of Rs 60,000 crore has been made to cover 3.8 crore households in 2022-23 under Har Ghar, Nal Se Jal Scheme in the budget. Va Tech Wabag is the only Indian MNC company that has its business only in water technology. It has the best technology to remove impurities from drinking water. Source: wabag.com

The shares of the company closed in the red at Rs 1482.75 with a fall of 1.61 per cent as per BSE. As per NSE, the shares of the company closed in red at Rs 1,485.05  with a fall of 1.37 per cent. The Indian multinational information technology services and consulting company has reported a 2.2% QoQ rise in the consolidated profit at Rs 1,369 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 1,339 crore in the previous quarter ended September 30, 2021. Revenue from operations grew 5.2% QoQ to Rs 11,451 crore in the reported quarter against Rs 10,881 crore posted in the previous quarter. Source: Tech Mahindra Twitter

The shares of the company closed in the red at Rs 218.40 with a fall of 1.78 per cent as per BSE. As per NSE, the shares of the company closed in red at Rs 218.15  with a fall of 2 per cent. Tata group hospitality firm Indian Hotels Co Ltd (IHCL) has reported a consolidated net profit of Rs 96 crore for the quarter ended December 31, 2021. It had posted a consolidated net loss of Rs 133.22 crore in the same period last fiscal. Revenues from operations grew 98.5% to Rs 1,111.2 crore against Rs 559.9 crore posted last year. The company has posted an EBITDA profit of Rs 321.8 crore in the reported quarter against an EBITDA loss of Rs 16.7 crore posted last year. The margin stood at 29% in Q3FY22. Source: ihcltata.com

The shares of the company closed in the red at Rs 638.50 with a fall of 2.24 per cent as per BSE. As per NSE, the shares of the company closed in red at Rs 637 with a fall of 2.59 per cent. The financial services company Cholamandalam Investment and Finance Company has reported a 28% YoY rise in the net profit at Rs 524 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 409 crore in the corresponding quarter last year. Net income grew 9% YoY to Rs 1,484 crore against Rs 1,364 crore posted last year. The company's gross NPA declined to 5.85% in Q3FY22 against 6.16% reported in Q2FY22. Source: chodamandalam.com

The shares of the company closed in the red at Rs 976.40 with a fall of 5.60 per cent as per BSE. The company has reported a consolidated loss of Rs 3.2 crore for the quarter ended December 31, 2021, against a consolidated profit of Rs 71.24 crore posted in the corresponding quarter last year. Revenue from operation was almost flat at Rs 953.1 crore in the period under consideration against Rs 951 crore posted last year. Source: ifbindustries.com