Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:
Wipro, Angel One, Waaree Renewable Technologies, Reliance Industrial Infrastructure, Swaraj Engines, and GTPL Hathway will announce their quarterly earnings on April 16.
Indian Renewable Energy Development Agency (IREDA) Q4 (Consolidated YoY)
Profit zooms 48.7% to Rs 501.6 crore Vs Rs 337.4 crore
Net interest income surges 47.3% to Rs 801.3 crore Vs Rs 544 crore
IREDA FY25 (Consolidated YoY)
Profit jumps 35.6% to Rs 1,698.3 crore Vs Rs 1,252.2 crore
Net interest income spikes 44.6% to Rs 2,602.3 crore Vs Rs 1,799.8 crore
ICICI Prudential Life Insurance Company Q4 (YoY)
Annual premium equivalent (APE) drops 3.1% to Rs 3,502 crore Vs Rs 3,615 crore
Value of new business grows 2.4% to Rs 795 crore Vs Rs 776 crore
VNB margin expands to 22.7% Vs 21.5%
Profit surges 122.3% to Rs 386.3 crore Vs Rs 173.8 crore
Net premium income grows 10.7% to Rs 16,369.2 crore Vs Rs 14,788.5 crore
Net commission rises 0.6% to Rs 1,575.2 crore Vs Rs 1,565.9 crore
Company declares final dividend of Rs 0.85 per share
ICICI Prudential Life Insurance Company FY25 (YoY)
APE grows 15.04% to Rs 10,407 crore Vs Rs 9,046 crore
Value of new business rises 6.4% to Rs 2,370 crore Vs Rs 2,227 crore
VNB Margin drops to 22.8% Vs 24.6%
Profit zooms 39.5% to Rs 1,189 crore Vs Rs 852.4 crore
ICICI Lombard General Insurance Company Q4 (YoY)
Profit falls 1.9% to Rs 509.6 crore Vs Rs 519.5 crore
Gross premium written jumps 10.2% to Rs 6,903.9 crore Vs Rs 6,263.1 crore
Net premium written soars 15% to Rs 5,481 crore Vs Rs 4,767.2 crore
Operating profit drops 25.9% to Rs 415.9 crore Vs Rs 561.6 crore
Underwriting loss narrows to Rs 209.7 crore Vs loss of Rs 235.6 crore
Combined ratio increases to 102.5% Vs 102.3%
Stocks to Watch
The bank has received a report from an external agency identifying discrepancies related to derivative deals. The report has quantified the negative impact of these derivative deals, as of June 2024, at Rs 1,979 crore. The agency has assessed an adverse impact (on a post-tax basis) of 2.27% on the bank’s net worth as of December 2024 due to these discrepancies. The bank will appropriately reflect the resultant impact in the financial statements for FY25 and will continue to take suitable steps to strengthen internal controls related to derivative accounting operations.
The food delivery company has signed a Memorandum of Understanding (MoU) with the Ministry of Labour & Employment to enhance gig and logistics employment opportunities on the National Career Service (NCS) portal, aiming to create over 12 lakh job opportunities over the next 2–3 years.
The Competition Commission of India (CCI) has approved the proposed merger of Quality Care India (QCIL) into Aster DM Healthcare via a scheme of amalgamation. Post-merger, Aster will be renamed Aster DM Quality Care. Prior to the merger, Aster will acquire a 5% stake in QCIL from BCP Asia II TopCo IV Pte Ltd and Centella Mauritius Holdings in exchange for a primary share issuance by Aster. The existing shareholders of QCIL—Centella, BCP, and certain minority shareholders—are proposed to hold a stake in the merged entity, with Centella holding less than 10% without any control rights.
Cairn Oil & Gas has acquired 7 new blocks in the Open Acreage Licensing Policy (OALP) Round IX auction. These newly awarded blocks include 4 onshore and 3 shallow water blocks located in the hydrocarbon basins of Cambay, Saurashtra, and Mumbai. With this addition, Cairn’s portfolio now comprises 69 blocks across the country.
The company has secured 9 blocks under OALP Round IX, adding over 51,000 sq. km to its exploration portfolio—6 blocks as the sole operator and 3 as a consortium partner. With this addition, OIL’s total exploration acreage has increased from 60,000 sq. km to 110,000 sq. km, registering an 85% growth.
The allocation of Administrative Price Mechanism (APM) natural gas to the company has been reduced by 18%, effective April 16, compared to the previous fortnight’s allocation. The reduced APM volume is being replaced with New Well/Well Intervention Gas (NWG). This reduction in APM gas allocation is expected to adversely impact profitability. However, the company is exploring all measures to mitigate the impact.
The Andhra Pradesh government has allotted 21.16 acres of land in Visakhapatnam to Tata Consultancy Services (TCS) for a symbolic price of just 99 paisa. According to sources, TCS plans to invest Rs 1,370 crore in its Vizag unit and create 12,000 jobs.
The Securities and Exchange Board of India (SEBI) has barred promoter brothers Anmol Singh Jaggi and Puneet Singh Jaggi from holding any directorship or key position in Gensol Engineering (GEL) or any other entity. Both GEL and the Jaggi brothers have been prohibited from accessing the securities market. In an interim order, SEBI Whole Time Member Ashwani Bhatia also directed GEL to put its planned stock split on hold. SEBI will appoint a forensic auditor to examine the books of accounts of GEL and its related parties. The forensic auditor must submit the report within six months of appointment.
The Board has approved raising funds of up to Rs 125 crore through the issuance of equity shares via a rights issue.
After the successful completion of its trial run, NHPC has declared the commercial operation (COD) of Unit-4 (200 MW) of the Parbati-II HE Project (4x200 MW) in Himachal Pradesh. The commercial operation of Unit-1, Unit-2, and Unit-3 (200 MW each) was already declared on April 1.
Dabur International FZE, a step-down wholly owned subsidiary of Dabur India, has decided to incorporate a new entity in the UK. This new entity will also be a step-down wholly owned subsidiary of Dabur India and will engage in the sales and distribution of FMCG products.
The company has signed a license agreement for a hotel property—Lemon Tree Resort—in Mori Bera, Rajasthan. The property will be managed by its subsidiary, Carnation Hotels, and is expected to commence operations in FY27.
The Nodal Agency, GAIL (India), has reduced the allocation of APM-priced domestic gas to the company by 15%, effective April 16. This reduction is being offset by the supply of New Well Gas (NWG). However, the higher cost of NWG and lower APM gas allocation are expected to adversely impact the company’s profitability. The company is exploring all possible measures to mitigate the impact.
Bulk Deals
Bajaj Finance has sold 10.12 lakh shares in AGS Transact Technologies at an average price of Rs 7.06 per share.
Stock Trades Ex-Dividend
Mazagon Dock Shipbuilders
Stocks in F&O ban
Birlasoft
Hindustan Copper
Manappuram Finance
National Aluminium Company
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