Top stocks in focus: Tata Steel, Rain Industries, TVS Motor, Marico, Adani Power

6 Apr 2022 , 07:28 AM

Tata Steel India achieved the highest-ever annual crude steel production of 19.06 million tons, with a growth of 13% yoy despite the COVID 2nd wave related disruption early in the financial year.

Tata Steel Long Products crude steel production grew by 6% yoy in FY22, despite the disruption caused by the COVID 2nd wave and the shutdown of one of the blast furnaces for few weeks during Q4FY22.

Rain Industries stock is in focus as its subsidiary Rain CM Carbon (Vizag) (RAIN) is facing RPC shortfall to the tune of 40 per cent. Apart from calcined petroleum coke (CPC), the shutdown of RAI’’s Kiln will also result into net loss of 20 MW of waste-heat power generation to the grid. RAIN has two Kilns for manufacture of CPC at Visakhapatnam, Andhra Pradesh.

TVS Motor Company and Jio-bp have agreed to explore the creation of a robust public electric vehicle (EV) charging infrastructure for electric two-wheelers and three-wheelers in the country, building on Jio-bp’s growing network in this space.

Marico said revenue growth in Q4FY22 was in low single digits, while volumes were marginally positive on an exceptionally high base (25%), leading to a double-digit volume growth on a 2-year CAGR basis.

Adani Power has received Rs3,000 crore dues with interest from the state-owned power distribution companies of Rajasthan as compensation for higher fuel costs.

Resurgent Power Ventures, co-sponsored by Tata Power and ICICI Bank and has other global reputed investors, has completed the acquisition of NRSS XXXVI Transmission, a special purpose vehicle to establish and operate transmission system in Northern Region along with LILO of SikarNeemrana 400kV D/C line at Babaion on build-own-operate-maintain (BOOM) basis. Resurgent Power Ventures was set up to acquire stressed assets in the Indian Power Sector.

Kansas Department of Labour (KDOL) has selected TCS to build a modern, secure, web-based system for the state’s unemployment insurance program.

Zomato has said that the Competition Commission of India has prima facie not found concerns with respect to their independence on levy of commissions or alleged bundling of services but it wants to investigate aspects such as preferential listing of restaurant partners and pricing parity.

Ruchi Soya Industries Ltd has approved the allotment of around 66.1 million shares to raise an amount of Rs4,300 crore.

Poonawalla Fincorp on Tuesday said its assets under management (AUM) grew 17 per cent year-on-year to Rs16,575 crore at the end of the quarter ended March 31, 2022. The AUM growth was 9 per cent quarter-on-quarter.