Bharti Airtel, RIL, Tata Motors, Union Bank of India, HCL Tech and more

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Stocks in news: Bharti Airtel, RIL, Tata Motors, Union Bank of India, HCL Tech and more

Sensex and Nifty were likely to open higher today as Nifty futures on the Singapore Exchange rose 157 points, or 1.05 per cent, at 15,103. On Monday, Sensex and Nifty started the week on a strong note amid a fall in daily Covid-19 cases and a strong rally in banking stocks. While Sensex rallied 848 points to 49,580, Nifty soared 245 points to 14,923. Top Sensex gainers were IndusInd Bank, SBI, ICICI Bank, HDFC twins, Axis Bank, Bajaj Finserv and UltraTech Cement rallying up to 7%.

Here’s a look at stocks which are likely to remain in news today.

Bharti Airtel: Bharti Airtel reported a net profit of Rs 759 crore in Q4 against a net loss of Rs 5,237 crore in the year-ago quarter. Revenue rose 11.9 per cent to Rs 25,747 crore, while EBITDA grew 28.9 per cent to Rs 12,583 crore. EBITDA margin expanded 647 basis points to 48.9 per cent.

Reliance Industries: Mukesh Ambani-led Reliance Jio Infocomm is constructing the largest international submarine cable system centered on India. The mobile broadband digital service provider is working with several key global partners and submarine cable supplier SubCom is currently deploying two next generation cables to support data demand growth across the region.

HCL Technologies: The IT services major said it is hiring 1,000 technology professionals from the fields of digital transformation, cloud, artificial intelligence and cybersecurity in the United Kingdom. The company plans to hire these professionals in the fields of digital transformation, cloud, artificial intelligence and cybersecurity for its London, Greater London and Manchester offices, it added.

Tata Motors: The automobile firm will declare its March quarter earnings today. The company will also undertake a block closure at its Jamshedpur facility from 18-22 May.

Union Bank of India: The lender said it has approved raising of  Rs 1,750 crore through qualified institutional placement. Floor price of the QIP has been set at Rs 35.60 per equity share. The bank may offer a discount of not more than 5% on the floor price calculated for the issue.

Infosys: The IT major has filed for arbitration proceedings against US company Whittle Management over unpaid invoice, a Times of India report said. Infosys alleged that the US customer did not pay for certain software service rendered by the former upon receiving a work order.

Zuari Agro Chemicals: The company said its fertiliser plant in Goa has been impacted due to Tauktae cyclone and there could be some damages. The company said it is in the process of assessing the damages caused by the cyclone Tauktae.

Bharat Forge: The firm plans to buy 49% shareholding in its arm Kalyani Strategic Systems for  Rs 329.7 million. Bharat Forge holds 51% stake in the unit currently.

Strides Pharma Science: The company has announced the promoter group has released substantial pledge of over 38%. Currently, the overall promoter group pledge stands at 25.98% of the promoter holding and 7.71% of the paid up capital of the company as compared to 41.96% of the promoter holding and 12.45% of the paid up capital as on 7 May, resulting in reduction of pledge by 38%.

Gland Pharma: The drug firm reported a 34 per cent rise in its consolidated net profit to  Rs 260.4 crore for the fourth quarter ended March 2021, on account of robust sales.