Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, appointments and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:
Infosys, HDFC Life Insurance Company, HDFC Asset Management Company, Jio Financial Services, Tata Elxsi, Mahindra EPC Irrigation, Indosolar, and National Standard (India) will release their quarterly earnings on April 17.
Wipro Q4 (Consolidated QoQ)
Consolidated profit grows 6.6% to Rs 3,588.1 crore Vs Rs 3,366.7 crore
IT services revenue increases 0.7% to Rs 22,445.3 crore Vs Rs 22,285.1 crore
IT services EBIT rises 0.7% to Rs 3,927 crore Vs Rs 3,899 crore
EBIT margin flat at 17.5%
Total bookings jump 13.4% to $3,955 million in constant currency
IT services revenue in dollar terms declines 1.2% to $2,596.5 million
Q1FY26 guidance (QoQ): Company expects IT services revenue in $2,505-2,557 million range, declining 3.5%-1.5% in constant currency terms
Waaree Renewable Technologies Q4 (Consolidated YoY)
Profit soars 82.7% to Rs 93.8 crore Vs Rs 51.3 crore
Revenue jumps 74.4% to Rs 476.6 crore Vs Rs 273.3 crore
Board appoints Manmohan Sharma as Chief Financial Officer of the company, effective April 16.
Angel One Q4 (Consolidated YoY)
Profit tanks 48.7% to Rs 174.5 crore Vs Rs 339.9 crore
Revenue falls 22.2% to Rs 1,056 crore Vs Rs 1,357.3 crore
Board approves final dividend of Rs 26 per share for FY25
GTPL Hathway Q4 (Consolidated YoY)
Profit declines 19.3% to Rs 10.6 crore Vs Rs 13.2 crore
Revenue rises 10.3% to Rs 891 crore Vs Rs 808 crore
Board recommends dividend of Rs 2 per share
Prestige Estates Projects Q4 (YoY)
New sales jump 48% to Rs 6,957.4 crore driven by strong customer response to launches and premium offerings
Sales volume increases 9% to 4.49 million square feet
Average realization for apartments, villas, and commercial properties grows 25% to Rs 15,524 per square foot
Collections decline 9% to Rs 3,155.1 crore
Stocks to Watch
The United States District Court, Delaware, has passed an order in the Myrbetriq patent case. The court ruled in favour of Astellas Pharma regarding the validity of its US patent (the ’780 patent) and noted that issues related to whether Lupin’s products infringe the ’780 patent, damages, and any additional invalidity theories will be litigated at a consolidated jury trial in 2026. Astellas Pharma had filed a patent infringement case against Lupin’s generic products of Mirabegron. As of now, there are no material financial implications. The company believes it has a strong case and is evaluating further legal action in the matter.
The United States District Court, Delaware, passed an order against the company in a litigation matter pertaining to the validity of a patent held by Astellas Pharma Inc., USA. The patent was related to a sustained-release formulation of ‘Mirabegron,’ marketed in the US by Astellas under the brand name Myrbetriq. The company is evaluating the potential impact of the order on its operations and legal remedies. Additionally, the company’s venture capital subsidiary, Zynext Ventures, has invested in Feldan Therapeutics—a Canada-based, early clinical-stage pharmaceutical company—focused on the development of treatments based on intracellular delivery of therapeutics.
The company has entered into an Energy Supply Agreement and a Share Subscription and Shareholders Agreement to acquire 26% equity shares of AMPIN C&I Power Eight, a company engaged in the generation and transmission of renewable energy. The acquisition is aimed at meeting the company’s green energy requirements, optimizing energy costs, and complying with regulatory requirements for captive power consumption under electricity laws.
Bharat Heavy Electricals (BHEL)
BHEL has signed a Technology Transfer Agreement with Bhabha Atomic Research Centre (BARC) for electrolyser systems for hydrogen production. The Mixed-Matrix Membrane Diaphragm Technology acquired from BARC will enable BHEL to achieve complete indigenous development of alkaline electrolyser systems.
Indian Railway Finance Corporation (IRFC)
The High Court of Judicature at Madras has allowed the writ petitions filed by IRFC and set aside the impugned order dated December 4, 2024, of the Assistant Commissioner (ST) regarding a tax demand of Rs 230.55 crore.
Dalmia Cement (Bharat) Ltd. (DCBL), a wholly owned material subsidiary of the company, has received a provisional attachment order of Rs 793.34 crore issued by the Enforcement Directorate (ED), Hyderabad, attaching land belonging to DCBL. The historical purchase value of the land is Rs 377.26 crore. The attachment stems from a case registered by the Central Bureau of Investigation (CBI) in 2011, which involved allegations against DCBL concerning investments in Bharathi Cement Corporation. The matter is currently sub judice before the CBI Court in Hyderabad.
Junya Yamanishi will cease to be the Director and Managing Director & CEO of the company effective April 16. Yasushi Nishikawa will join the Board of SML Isuzu as Director and Managing Director & CEO effective April 17.
The Board has approved the appointment of Saurav Mitra as Director (Finance) & Chief Financial Officer (CFO) of the company for a five-year term, replacing Vinod Kumar Mishra, whose tenure as Director (Finance) & CFO will expire effective April 18.
SBI Cards and Payment Services
India’s largest pure-play credit card issuer has signed a partnership with Tata Digital to launch the Tata Neu SBI Card, aiming to provide a premium and highly rewarding shopping experience for customers across various segments.
Glenmark Pharmaceuticals Inc., USA, has announced the upcoming launch of Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate, and Amphetamine Sulfate tablets (mixed salts of a single entity Amphetamine product). The tablets will be available in 5 mg, 10 mg, 15 mg, 20 mg, and 30 mg strengths. This product is bioequivalent and therapeutically equivalent to the reference listed drug Adderall tablets by Teva Women’s Health, Inc. Distribution is scheduled to begin in May 2025.
Tata Steel Nederland has signed an agreement to establish the world’s first liquid hydrogen import corridor between Oman, the Netherlands, and Germany. The initiative includes collaboration with the Port of Amsterdam and Ecolog, among other industrial organizations, to enable commercial-scale import of RFNBO (renewable fuel of non-biological origin) compliant liquid hydrogen into Europe, according to CNBC-TV18.
One 97 Communications (Paytm)
Vijay Shekhar Sharma, Chairman, Managing Director, and CEO of the company, has voluntarily forgone all 2.1 crore ESOPs granted to him under the One 97 Employees Stock Option Scheme, 2019, with immediate effect. This will result in a one-time, non-cash acceleration of ESOP expense amounting to Rs 492 crore in Q4 FY25, with an equivalent reduction in ESOP expenses in future years.
The Board has approved the appointment of Alok Prakash as Chief Executive Officer of the company, effective April 16.
The company has announced a temporary production pause from April 17 to 19 at four of its manufacturing plants—Dharuhera, Gurugram, Haridwar, and Neemrana—due to a short-term supply alignment. Production will resume on April 21. Its Tirupati and Halol plants will continue to operate during this period. The pause will not impact the company’s ability to meet retail demand in domestic or international markets. Any production deferment will be efficiently recovered in the following month.
Revenue estimates for Q4 FY25 from the company’s largest client are expected to be lower than anticipated. As a result, the company expects reduced revenue from its international business for the quarter.
Due to certain deficiencies in the reconciliation process related to suspicious UPI Global transactions, the bank has appointed an external agency—Pipara & Co. LLP, Chartered Accountants, Ahmedabad—as forensic auditors to review and report on the matter.
Stock Trades Ex-Dividend
Sanofi Consumer Healthcare India
Stock Trades Ex-Date for Split
Akme Fintrade (India)
Stocks Trade Ex-Date for Rights
Garment Mantra Lifestyle
Sylph Technologies
Tirupati Tyres
Stock Trades Ex-Date for Resolution Plan -Suspension
Rushabh Precision Bearings
Stocks in F&O ban
Birlasoft
Hindustan Copper
IREDA
Manappuram Finance
National Aluminium Company
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