Wipro, Mindtree, Ujjivan Financial, Varroc Engineering and more: Top stocks to watch on April 19

SUMMARY

Stocks to watch: SGX-traded Nifty50 futures contract rose 0.2 percent on Tuesday as of 7:08 am to 17,261 points hinting at a slightly higher opening. Shares such as Mindtree, Wipro, Ujjivan Financial and Varroc Engineering among others will be closely watched. Here are the top stocks for today's session:

By CNBCTV18.comApr 19, 2022 11:16:37 AM IST (Updated)

Mindtree | The IT company reported a 49 percent year-on-year (YoY) jump in net profit at Rs 473.1 crore for the fourth quarter ended March 31, 2022. In the corresponding quarter last year, the company posted a net profit of Rs Rs 317 crore. Its EBITDA margin of 20.9 percent and PAT margin of 15.7 percent have been their highest in a decade. Mindtree's consolidated revenue from operations grew by 37.4 percent to Rs 2,897.4 crore in during January-March 2022 from Rs 2,109.3 crore in the corresponding quarter of 2020-21.

Wipro | The company has appointed Satya Easwaran as Country Head.

Ujjivan Financial Services | The company's board of directors has appointed Radhakrishnan Ravi, as Chief Executive Officer and Chief Financial Officer of the company.

Eveready Industries India | Puran Associates Pvt Ltd & Others acquired 76,534 equity shares in the company through open market transactions on April 18. With this, their stake in the company stands increased to 20.07 percent, up from 19.96 percent earlier.

Rail Vikas Nigam | The company has entered into an agreement with Mahanadi Coalfields, a subsidiary of Coal India. MCL has given a project management consultancy contract for rail infrastructure works to Rail Vikas from concept to commissioning.

VarrocEngineering | The auto component maker is likely to sell its global lighting businessVarroc Lighting System at an enterprise value of up to Rs 600 million to a leading European component maker to pare its debt, a report said.

SJVN | The company has achieved financial closure by signing a loan agreement of Rs 494 crore with Himachal Pradesh State Co-Operative Bank for the development of 66 MW Dhaulasidh HEP, in Himachal Pradesh. The total project cost of Rs 688 crore has to be financed through a debt equity ratio of 80:20.

Sanofi India | The company has appointed Rodolfo Hrosz as Managing Director of the company with effect from June 1, 2022.

INEOS Styrolution India | Promoter INEOS Styrolution APAC Pte Ltd has proposed to sell 25,32,330 equity shares (14.4 percent stake) of the company through an offer for sale issue. It has also kept an option open, to additionally sell 16,88,220 equity shares (9.6 percent stake) through OFS. The OFS will open for two days - April 19 and 20.

Asahi Songwon Colors | The company acquired a 78 percent stake in Atlas Life Sciences, a manufacturer of bulk pharmaceutical ingredients (APIs). The acquisition, which has taken place in a cash deal for Rs 48 crore, includes a fully operational WHO GMP certified manufacturing facility in Odhav, Ahmedabad, an R&D facility, a corporate office, and a land parcel in Chhatral. Asahi Songwon will acquire an additional 11 percent stake in Atlas each year for the next two years based on performance metrics, taking the total equity stake to 100 percent by the end of FY25.