Stocks to Watch: Infosys, Tata Steel, Union Bank of India, TVS Motor

Stocks to Watch: Infosys, Tata Steel, Union Bank of India, TVS Motor
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Here is a list of stocks that could be in focus on Wednesday:

Infosys:- On Wednesday, the IT powerhouse will release its fiscal fourth-quarter results. According to analysts, Infosys is expected to achieve double revenue growth in FY13 while keeping its Ebit margin projection in the 22-24 percent range.

Tata Steel:- Tata Steel has completed its acquisition of the whole 50 percent ownership in S&T Mining Company held by the Steel Association of India. Tata Steel Mines Ltd, a member of Tata Steel, bought debt-ridden Rohit Ferro-Tech Ltd for Rs 617.12 crore during insolvency proceedings on Tuesday.

India’s Union Bank:- Bharat International Bank will purchase a 75 percent stake in Bank of Baroda and Indian Overseas Bank’s joint venture in Malaysia. The plan is still pending RBI’s official permission. Because the bank is strategically essential, it would also require government clearance, including a green light from External affairs.

TVS Motor:- A component of the corporation, Swiss E-Mobility Corporation (Holding) AG, has purchased a 100% interest in Alexandre’ro douard’o Passion Velo Soral for CHF 2.79 million. The business offers e-bikes and e-bike equipment.

Reliance Capital:- Amid the bidding process for debt-ridden Reliance Industries Ltd (RCL) and its companies, creditors have ignored Borrower officials’ fears and opted to move ahead with their plan. Following default payment and management failures, RBI supplanted RCL’s board in November.

Hathway Cable and Datacom:- Hathway Cable and Datacom combined net profit for the quarter ending March 2022 fell 60.6 percent year on year to 28.42 crores. Throughout this time, total income increased by 3.32 percent to 462.87 crores.

Also Read: Adani Group Stocks Extend Rally On $2 Billion Investment By UAE’s IHC

Fino Payments Bank:- Fino Payments Bank is a financial institution specializing in payments. For an unknown sum, will purchase a minority investment in New Delhi-based fintech Paysprint. The bank will purchase a 12.19 percent share in the company, which provides APIs in banks, transactions, transportation, loans, insurance, and investing.

ICICI Bank:- At its board meeting on April 23, the private industry creditor will suggest increasing cash by issuing debt instruments.

Veranda Learning Solutions:- Nomura Singapore exited Veranda Development Services via open market operations, marketing, and additional 7,78,600 stocks at an average cost of 162.51 apiece. Societe Generale, a French financial services firm, bought an average of 7,68,398 Veranda 162.50 equities.

McDowell Holdings:- The corporation has been placed in insolvency by the Company Law Tribunal, which has also selected an interim resolution specialist. The NCLT granted Sun Star Resorts and Estate Pvt Ltd’s petition for 16.80 crores, which was submitted by a credit institution of the former Vijay Mallya-owned firm.

Also Read: Shortage Of Coal And Soaring Demand Would Cause More Power Cuts In India

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