Top stocks in focus: Infosys, HDFC Bank, Alkem, Mindtree, Tata Power

18 Apr 2022 , 08:12 AM

HDFC Bank’s profit in Q4 grew 22.8 per cent to Rs10,055.2 crore YoY as provisions declined 29.4 per cent in the same period.

Infosys recorded lower-than-expected earnings growth in March 2022 quarter, with profit falling 2.1 per cent sequentially to Rs5,686 crore on lower-than-expected revenue growth (up 1.3 per cent QoQ) and a fall in operating margin, and dollar revenue growth of seven-tenth of a percent QoQ at $4,280 million.

Windlas Biotech received a certificate of good manufacturing practices (GMP) from the South African Health Products Regulatory Authority.

UltraTech Cement UAE subsidiary, UltraTech Cement Middle East Investments (UCMEIL), has picked up a 29.39 percent stake in RAK Cement Company for White Cement and Construction Materials PSC (RAKWCT), a listed entity on Abu Dhabi and Kuwait stock exchanges.

Alkem Laboratories Taloja unit has been cleared by the US health regulator as the unit has not received “Form 483” after inspection.

BlackRock Real Assets, together with Mubadala, will invest Rs4,000 crore ($525 million) for a 10.53 percent stake in Tata Power’s subsidiary Tata Power Renewables.

Mahindra & Mahindra has hiked the price of its vehicles by 2.5 per cent. The price revision is a result of a continuous increase in prices of key commodities such as steel, aluminium and palladium.

Jubilant Ingrevia has received CDMO contract worth Rs270 crore in specialty chemicals business from an “international customer”.

Results today: Mindtree, Star Housing Finance, Earum Pharmaceuticals, DRC Systems India, Mishtann Foods, Ramsarup Industries, Sheetal Cool Products, SE Power, SM Gold, and Swiss Military Consumer Goods.