PremiumNEW DELHI: Here are the top 10 stocks that could be in news today:
Tech Mahindra: The IT major on Monday posted a 34.6% rise in consolidated net profit to ₹1,081.4 crore for the March quarter. The company's consolidated revenue from operations increased 2.5% to ₹9,729.9 crore.
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Premium Banks and financials: The RBI has capped the tenure of managing directors (MDs) and chief executive officers (CEOs) and whole-time directors (WTDs) of private banks at 15 years from the date of appointment. For CEOs who are part of the promoter group or large shareholder, the tenure is capped at 12 years. The age cap for chairman and independent directors has been set at 75 years.
Maruti Suzuki India: The country’s largest carmaker is planning to increase production by 200 cars per day from May, two people aware of the company’s plans said, as it bets that demand for personal mobility will continue amid the resurgence of the pandemic.
Tata Motors: The automaker said the lockdown enforced in various parts of the country is expected to impact vehicle demand temporarily. The company has set in motion a comprehensive 'Business Agility Plan' to protect and serve the interests of its customers, dealers and suppliers, it said.
Bajaj Finance: The non-bank financier will report its March quarter earning on Tuesday. The lender had reported a 29% year-on-year decline in consolidated net profit at ₹1,145.98 crore for the three months to December, on account of higher losses and provisions.
Axis Bank: The private sector bank will declare its Q4 results on Tuesday. The lender had reported a 36% drop in quarterly profit from a year ago to ₹1,117 crore due to higher provisions for bad loans. Provisions in the quarter-ended 31 March rose 33% to ₹4,604 crore from a year earlier.
Vedanta Ltd: Tamil Nadu has authorised the company's shuttered copper smelter to produce oxygen for medical purposes to help the country tackle its deepening coronavirus crisis. The smelter has been closed for nearly three years due to concerns about pollution.
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Premium Premium Aviation companies: The government has extended the cap on domestic airfare, which was earlier slated till 30 April to 31 May. Meanwhile, major Indian airlines which have a considerable international network, expect a delay in recovery of international flights, which typically bring in higher yields than domestic flights.
HDFC Life Insurance: The private life insurer reported a 2% increase in its standalone profit after tax to ₹318 crore in the quarter ended on 31 March 2021, compared with ₹312 crore in the year-ago period. For the financial year 2020-21, the insurer’s PAT grew by 5% to ₹1,360 crore from ₹1,295 crore in FY20. During the year, it sold about 980,000 new individual policies registering a year-on-year growth of 10%.
Vakrangee: Sebi has imposed a total fine of ₹1.75 crore on several entities for indulging in fraudulent trading in the scrip of Vakrangee Ltd. The entities have violated Prohibition of Fraudulent and Unfair Trade Practices norms, Sebi said in three separate orders.
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