Tata Steel, Marico, Bandhan Bank, TVS Motor

Here is the list of the top 10 stocks that are likely to be in focus on Wednesday:

Tata Steel: The company said its consolidated steel output stood at 7.57 million tonnes (MT) for the quarter ended March 31, 2022, registering a year-on-year fall of about 3%. The company had produced 7.80 MT of steel during the January-March quarter of financial year (FY) 2020-21.

NTPC: India’s top electricity producer’s coal imports this financial year will be the highest in eight years despite near-record prices, two senior officials at the company said, as it looks to address a domestic shortage.

Tata Power: Resurgent Power Ventures, co-sponsored by Tata Power and ICICI Bank and other global investors, has completed the acquisition of electricity transmission project NRSS XXXVI Transmission Ltd under debt resolution initiated by PTC India Financial Services via competitive bidding.

TVS Motor Company: Jio-bp and TVS Motor Company have agreed to explore the creation of a a public electric vehicle charging infrastructure for electric two-wheelers and three-wheelers in the country. Under this proposed partnership, the customers of TVS will get access to the charging network of Jio-bp, which is also open to other vehicles.

Marico: The FMCG major said its domestic business in the January-March quarter stayed relatively firm, helped by “low single-digit” revenue growth and marginally positive volumes. The company expects a “marginal growth” in profits in Q4 due to a rise in input costs and higher advertising and promotional spending.

Bandhan Bank: The overall collection efficiency ratio (CER) of the private lender stood at 96% at the end of financial year 2021-22, against 93%in the preceding third quarter. Loans and advances of the bank grew 16 per cent year-on-year at 1,01,359 crore at the end of March 31, 2022, while its total deposits increased to 96,331 crore year-on-year at the end of last quarter on 2021-22.

Tata Consultancy Services: Kansas Department of Labour has selected TCS to build a modern, secure, web-based system for the state’s unemployment insurance program. This will help transform a legacy mainframe platform from the 1970s into a cloud-based system that dramatically improves the delivery of services to Kansas residents.

Canara Bank: RBI has permitted the bank to exercise the call option of the tier-II bonds. The bank is in process of exercising the call option on the due date, which is 3 May 2022.

Adani Group companies: Adani Enterprises, Adani Transmission and Adani Green Energy informed the stock exchanges that their boards will meet on 8 April to evaluate the proposal for raising funds. The funds, if approved, will be raised through rights issue, preferential allotment, including a qualified institutions placement (QIP) or through any other ways.

Ruchi Soya Industries: The company’s board of directors has approved the allotment of 6.61 crore equity shares worth 4,300 crore.

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Divyansh Singh

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