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Thursday 28 April 2022

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Stocks in News


ONGC: The state-owned oil and gas exploration company has signed an MoU with Norway-based Equinor ASA for exploration and production, and clean energy. 

Tata Consumer Products: Life Insurance Corporation of India bought 1.36 lakh equity shares in the company via open market transactions on April 26. With this, LIC's shareholding in the company stands increased to 5.008 percent, up from 4.993 percent earlier. 

Persistent Systems: The company reported a good set of numbers as it clocked a 14 percent sequential growth in profit at Rs 200.9 crore driven by topline as well as operating income. Revenue rose by 9.8 percent quarter-on-quarter to Rs 1,637.9 crore during the same period, with order booking for the quarter at $361 million in total contract value. Revenue in dollar terms increased by 9.1 percent sequentially to $217.32 million in Q4FY22. 

Bajaj Auto: The two-and-three-wheeler maker recorded a 10.3 percent year-on-year growth in profit at Rs 1,469 crore in the quarter ended March 2022 on incentives from the Maharashtra government for April 2015 to March 2021, but revenue dropped 7.2 percent YoY to Rs 7,974.8 crore on fall in volumes. EBITDA dropped 10 percent to Rs 1,396 crore. 

Trent: The company posted a loss of Rs 20.87 crore for the quarter ended March 2022 against a profit of Rs 17.44 crore in the same period last year, as overall expenses jumped 49 percent in the same period, but revenue was very strong, growing 46.7 percent to Rs 1,328.9 crore compared to the year-ago period. 

HDFC Asset Management Company: The company reported an 8.7 percent year-on-year growth in profit at Rs 343.55 crore supported by other income and lower tax cost. Revenue grew by 2.6 percent YoY to Rs 516.28 crore during the same period. 

Hindustan Unilever: The company reported earnings better than analysts' estimates, with profit rising 8.6 percent year-on-year to Rs 2,327 crore on double-digit growth in topline and operating income, though margin contracted by 30 bps YoY. Revenue during the quarter increased by 11 percent to Rs 13,462 crore compared to the same period last year with flat underlying volume growth. The company said it managed business dynamically driving savings harder across all lines of P&L and taking calibrated pricing actions. The final dividend declared by the company was Rs 19 per share for FY22.

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