Daily Stock Market Reports

Bharti Airtel, Route Mobile, Vedant Fashion, and Others

Benchmark indices ended on a positive note for the second consecutive day during the last trading session amid buying seen in the metal, oil and gas, power and IT stocks. At close, the Sensex was up 388.76 points or 0.70 per cent at 56,247.28, and the Nifty was up 135.50 points or 0.81 per cent at 16,793.90.

“The Nifty is currently placed at the edge of crucial overhead resistance of around 16,800-17,000 levels (previous swing lows and 200 day EMA). Previously, this area offered crucial support for the market and resulted in a strong upside bounce,” said Nagaraj Shetti, Technical Research Analyst at HDFC Securities

Here are the Stocks to Watch in Trade Today:

Bharti Airtel

The stock shed over a percent on February 28. Shareholders approved the issue of preferential shares to Google for its Rs 7,500 crore investment and the telecom company entered into an agreement with Vodafone Plc to buy equity interest in Indus Towers. Bharti Airtel will buy a 4.7 per cent stake in Indus Towers from Vodafone Plc, the former said in an exchange filing on Friday.

RAIN Industries

The share price was down over 7 per cent after the company posted a consolidated net loss of Rs 97 crore in the December quarter against a profit of Rs 307 crore in the year-ago period. The company’s net sales, however, jumped 52 per cent to Rs 4,026 crore in the quarter from Rs 2,640 crore in the same period of the previous year, while adjusted EBITDA was up almost 13 per cent to Rs 541 crore. EBITDA margin slipped to 13.4 per cent from 18.2 per cent in the year-ago quarter. The company follows January-December financial year. Profit before tax dipped 49.8 per cent to Rs 223.46 crore in the fourth quarter from the year-ago period, the company said.

Route Mobile

Its subsidiary Routesms Solutions FZE (RSL FZE) has successfully completed the acquisition of MR Messaging FZE, based in teh United Arab Emirates. With this, MR Messaging has become a wholly-owned subsidiary of RSL FZE and a stepdown subsidiary of Route Mobile.

Panacea Biotec

The company will sell the pharmaceutical formulations brands of its subsidiary to Mankind Pharma. The total value of the transaction is Rs 1,872 crore. The company and its material subsidiary Panacea Biotec Pharma (PBPL) have entered into definitive agreements for the transaction. This stake sale is in line with the company’s strategic plan to become debt-free and focus on exports of pharmaceutical formulations in the US and other international markets besides the vaccine business in global markets.

DB Realty

The Supreme Court has allowed the real estate company to develop land in Mumbai. The decision makes freehold 22,000 square meters in commercial zone in Mumbai available to its subsidiary Esteem Properties for development. The company intends to develop the land into a 2 million square feet (leasable area) Grade A office space over the next three years.

Vedant Fashions

Ethnic wear brand Manyavar operator clocked healthy 24.1 per cent year-on-year growth in consolidated profit at Rs 127.8 crore on strong sales and operating income in the quarter ended December 2021. Revenue grew by 28 percent year-on-year to Rs 384.8 crore. The company registered a 24.5 per cent YoY growth in EBITDA at Rs 191.5 crore for the quarter.

Huhtamaki India

The packaging solutions firm posted a loss of Rs 13.52 crore for the December 2021 quarter against a profit of Rs 5.08 crore in the corresponding period of the last fiscal. But the topline grew nearly 19 per cent year-on-year to Rs 661.6 crore in Q4CY21.

Vipul Organics

The specialty chemicals company has recommended bonus equity shares for its shareholders and employee stock options scheme for its employees in the 50th year of its operations. The company will issue one bonus share for every four shares held by shareholders and also issue 2 lakh options to eligible employees.

Lemon Tree Hotels

The company has signed a license agreement for 41 room hotel at Mukteshwar, Uttarakhand. The hotel is expected to be operational in July 2022. The hotel is owned by The Alpine Chalet Resort. Its subsidiary Carnation Hotels and the hotel management arm will be operating and marketing this hotel.

Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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