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Stocks in focus on April 27: Mindtree, Bharat 22 ETF to ICICI Prudential, here are the 5 Newsmakers of the Day
As Indian benchmark indices opened in green on Monday (April 27) with the Sensex gaining around 500 points, Mindtree, Bharat 22 ETF and Tata Steel are some stocks which will impact the indices on Monday.
As Indian benchmark indices opened in green on Monday (April 27) with the Sensex gaining around 500 points, Mindtree, Bharat 22 ETF and Tata Steel are some stocks which will impact the indices on Monday.
Here's the list of such five stocks:
Mindtree: Mindtree on Friday (April 24) reported 4.7 per cent quarter-on-quarter (QoQ) jump in consolidated net profit at Rs 206.2 crore for the fourth quarter ended March 31, 2020. Mindtree had reported a profit of Rs 197 crore in the third quarter of the same year. The company's net revenue increased by 4.4 per cent on a quarterly basis to Rs 2,050.5 crore against Rs 1,965 crore of the last quarter. The board of the company also approved a final dividend of Rs 10 per share, reported Zee Biz. The management is anticipating softness in demand in FY21 due to COVID-19.
Bharat 22 ETF: Bharat 22 ETF scheme has been rebalanced following its underlying index and will be effective from Monday (April 27).
ICICI Prudential: Private sector ICICI Prudential Life Insurance recorded a 31.3 per cent drop in its net profit to Rs 179.49 crore in the fourth quarter of fiscal 2019-20, as against Rs 261.37 crore in the same quarter of the corresponding year. The company's net premium income grew 5 per cent to Rs 10,475.12 crore in the quarter ended March 31, 2020, as against Rs 10,056.32 crore in the same period a year ago, according to Zee Biz.
Natco Pharma: On April 25, 2020, Natco Pharma announced the closure of inspection with an Establishment Inspection Report (EIR) from USFDA for the pre-approval inspection conducted at its formulations facility in Telangana.
TATA Steel: The UK arm of Tata Steel is seeking a relief package of Rs 4,718 crore (£500 million) with the UK government to survive the crisis caused by the coronavirus pandemic. Tata Steel is in talks with the Welsh government as well as the UK Treasury as it seeks the 50-million pounds cap set on loans being offered under the UK's Coronavirus Large Business Interruption Loan Scheme (CLBILS) to be lifted. Notably, Tata Steel owns the largest steelworks in Port Talbot in Wales.
Liquor stocks in focus: Though the Centre has allowed the opening of the neighbourhood and standalone shops, it had confirmed that liquor shops, restaurants, salons and barbershops will continue to remain closed. The Centre's clarification came after confusion prevailed if liquor shops were included under the allowed categories in Friday's notification.