Stock market news that you should not miss today

26 Apr 2022 , 08:36 AM

Here is the important stock market news to watch out for today.

• Markets to open on a flat note; support @ 16850, resistance at 17400.
• FIIs have sold shares worth Rs3302.85 crore (cash) and bought Rs1870.45 crore in index futures.
• US markets end higher, with Dow Jones closing up 238 points. Asian markets are trading in green.
• Brent crude was trading 1.21% up at $ 103.53 per barrel.
• Bank of India board approved capital raising of up to Rs 2,500 crore by issue of fresh equity capital. The main purpose of capital raising plan is to increase the minimum public shareholding from the present 18.59 percent to 25 percent in order to comply with the minimum public shareholding requirements.
• Amur Gas Chemical Complex LLC, (AGCC) in Russia has suspended activities related to contract given to Va Tech Wabag due to geopolitical uncertainty. The company had secured an engineering and procurement (EP) order from AGCC in Russia in August 2021.
• Lemon Tree Hotels has signed a licence agreement for a 60-room hotel at Kharar, near Chandigarh under the brand ‘Lemon Tree Hotel’. The hotel is expected to be operational by November, 2025. Its subsidiary Carnation Hotels will be operating and marketing this hotel.
• Tatva Chintan Pharma reports a 17 percent decline in net profit. The company reported a 17 percent year-on-year decline in profit at Rs 17.51 crore for March 2022 quarter, dented by lower topline and operating income.
• Veranda Learning Solutions has acquired T.I.M.E. (Advanced Educational Activities Pvt Ltd), the leading test-prep institute with a pan-India presence operating through 188 centres. The company bought T.I.M.E. for Rs 287 crore.
• Life Insurance Corporation of India bought an additional 85,000 equity shares in Tech Mahindra via open market transactions on April 22, taking its total stake to 5 per cent, up from 4.99 per cent earlier.
• Hubtown said the board on April 28 will consider the raising of funds by way of a rights issue.
• Gujarat Mineral Development Corporation recorded a consolidated profit at Rs 177 crore for the quarter ended March 2022, as against a loss of Rs 184.64 crore in same period last year, driven by topline. Revenue grew by 87 percent year-on-year to Rs 1,057.3 crore.
• Steel Exchange India reported a massive 286 percent year-on-year growth in profit at Rs 112.5 crore driven by tax write-back in the quarter ended March 2022.
• Mahindra CIE Automotive profit in the quarter ended March 2022 grew by 1,499 percent year-on-year to Rs 161.43 crore due to lower tax expenses and higher revenue growth.
• Eveready Industries India posted consolidated loss of Rs 38.41 crore in Q4FY22, which narrowed compared to loss of Rs 442.53 crore in corresponding period last fiscal, but revenue fell 11.5 percent year-on-year to Rs 241.24 crore during the quarter.
• Avantel board will meet on May 6 to consider dividend and bonus issue, along with the March quarter earnings.