To Watch

Stocks To Watch

Ashoka Buildcon: Received letter of acceptance from National Highways Authority of India for development of Memmadpur (Ambala) - Banur (IT City Chowk) - Kharar (Chandigarh) Corridor for a bid price of Rs 726 crore.

FDC: Launched India’s first oral suspension of Favipiravir – Favenza Oral Suspension, used to treat mild to moderate cases of COVID-19.

Piramal Enterprises: Approved the allotment of 1,020 non-convertible debentures aggregating to Rs 102 crores on private placement basis

Quickheal Technologies: Launched its annual report. Company reported a consolidated revenue from operations of Rs 333 crore in FY21, up 16% from Rs 286 crore in FY20. It said the recovery is “commendable” since business was severely impacted during the initial part of the year because of the lockdown restrictions. The recovery in the retail segment was stronger with 24% increase in revenue, while the enterprise segment grew by 9%. In the enterprise segment in the first two quarters of the year, the company said the government spending was less, and the SME segment also faced some liquidity pressure.

Kirloskar Industries: Reported a 32% decrease in revenue in FY21 at Rs 58.11 crore. Profit before tax is also 50% lower at Rs 32.45 crore. The company said it was mainly due to lower dividend income received, lower revenues from windmill business and reduced lease rental income.

Shilpa Medicare: Board of directors approved the transfer of API Business of the company consisting of Unit-1 and Unit-2 situated at Raichur, Karnataka by way of slump sale to a wholly owned subsidiary of the company.

Xelpmoc Design and Tech: Board of directors to meet on July 15 to consider a proposal of fund raising by issuance of equity shares or any other securities

Suven Life Sciences: Ended FY21 with revenue 6% lower at Rs 13.5 crore as compared to Rs 14.41 crore last fiscal year. Losses narrowed to Rs 72.15 crores versus Rs 94.2 crore.

Thermax: Launched its annual report. The company said its multi-sector approach makes it a resilient entity. Over the medium term, it said improvement in core industries, growing demand for Operations and Maintenance (O&M), Build-Own-Operate, and new energy-driven technologies augur well.

Vipul: NCLT has appointed Ravi Sethia as the interim resolution professional of the company.

Reliance Industries: Invested Rs 1 lakh in Reliance New Energy Solar, a newly incorporated wholly owned subsidiary.

IDBI Bank: Moody’s has upgraded baseline credit assessment (BCA) of IDBI to b1 from b2. IDBI's local and foreign-currency bank deposit ratings are two notches above its Baseline Credit Assessment (BCA) and Adjusted BCA of b1.

Earnings to Watch: Tata Metaliks, Mindtree