Stocks to watch today: The benchmark equity indices on the BSE and national Stock Exchange (NSE) snapped out of its two-day winning streak and ended over 1.2 per cent lower on Friday. The S&P BSE Sensex fell 714.53 points (1.23 per cent) to settle at 57,197.15 while the Nifty 50 declined 220.65 points (1.27 per cent) to end at 17,171.95.
Here are the key stocks to watch on Monday, April 25, 2022:
Beating market estimates, private sector lender ICICI Bank on Saturday reported a 59.4 per cent year-on-year jump in net profit to Rs 7,018.7 crore for the quarter ended March 2022, as against Rs 4,402.61 crore in the same period a year ago.
Higher net interest income and improved asset quality boosted the bank’s bottom line.
The bank’s board has also approved a dividend of Rs 5 per share for the shareholders.
HDFC Bank on Saturday declared a 1550 per cent or 15.50 per share dividend to its shareholders for the financial year 2021-22.
The board at its meeting has recommended a dividend of Rs 15.50 per equity share of Re 1 (1550 per cent) out of the net profits for the year ended March 31, 2022, HDFC Bank said in a regulatory filing.
This is subject to the approval of the shareholders at the ensuing Annual General Meeting, it said.
Tata group firm Tejas Networks on Friday posted a consolidated loss of Rs 49.62 crore in the fourth quarter ended on March 31, 2022, as the shortage of electronic chips hit its telecom gear production. The company had posted a profit of Rs 33.55 crore in the period a year ago.
The consolidated revenue from operations of Tejas Networks declined by 37.23 per cent to Rs 126.5 crore during the reported quarter from Rs 201.55 crore in the March 2021 quarter.
Reliance Industries and Future group stocks
A day after Future Group’s proposed Rs 24,713 crore deal to sell its assets to Reliance Retail was rejected by a majority of lenders to flagship Future Retail Ltd (FRL), Reliance Industries, in a stock exchange intimation Saturday, has said that as such, the scheme of arrangement “cannot be implemented”.
On Friday, secured lenders rejected Future Retail’s deal to sell its assets to Reliance Retail Ventures Ltd, a subsidiary of RIL.