ACC, Wipro, Tata Power, Tata Steel, Mindtree, Jindal Stainless, L&T stocks in focus on 19 April 2022

ACC, Wipro, Tata Power, Tata Steel, Mindtree, Jindal Stainless, L&T stocks in focus on 19 April 2022

Domestic equity benchmarks BSE Sensex and Nifty 50 were staring at a gap-up start on Tuesday, as suggested by trends on SGX Nifty in early trends. Nifty futures were trading 43 points or 0.25 per cent up at 17,269 on Singaporean Exchange. In the previous session, S&P BSE Sensex tanked 1,172 points or 2.01% to settle at 57,166 while the NSE Nifty 50 index dived 302 points or 1.73% to end at 17,173. Analysts say that potential risk of new covid-19 cases in capital city and rising retail inflation kept the market volatile. “India VIX is up nearly 10% which is giving some discomfort to the bulls and needs to sustain at lower level for market stability. However, buying was seen in selected news based sectors like defence, Power, Paper and Hospitality stock,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, said.Stocks to watch

L&T Info, ACC: BSE-listed companies such as ACC, Larsen & Toubro Infotech, Mastek, Tata Steel Long Products, PCBL, Benares Hotels, Godavari Drugs, and Longview Tea will release their fourth quarterly earnings for FY22 on Tuesday.

Wipro: Wipro announced the appointment of Satya Easwaran as the Country Head for India. Satya will be in charge of strengthening Wipro’s business in India across key industry sectors through strategic consulting, transformation and modernization engagements.

Mindtree: IT services firm Mindtree has posted an 8.13 per cent rise in consolidated net profit of Rs 473.1 crore for the fourth quarter ended March 31, compared with Rs 437.5 crore recorded in the sequential third-quarter.

Sterlite Technologies: Sterlite Power on Monday said it has acquired a 64.98 per cent equity stake in Maharashtra Transmission Communication Infrastructure Limited. The company said in a statement that it has “acquired this equity stake from Sterlite Technologies Limited (STL).”

Jindal Stainless: Jindal Stainless Ltd (JSL) is keen make an investment in the renewable energy sector to set up 300 MW solar and wind capacities in three states, its MD Abhyuday Jindal said. There will be no more investments in thermal energy, he told PTI. However, the industrialist did not specify the amount JSL intends to invest to set up the renewable capacity.

L&T: Larsen & Toubro Ltd. is weighing a merger between two of its publicly traded software firms, according to people familiar with the matter, as the Indian conglomerate seeks scale to compete with global digital giants.

Tata Steel: Tata Steel on Sunday said it would consider a stock split of the equity shares of the company at the board meeting to be held on May 3. The face value of the shares is Rs 10 each.