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Stocks to watch: Adani Ports, JSW Energy, Tata Chemicals, LTTS, ICICI Bank

By Administrator_India

Capital Sands

Nifty futures on the Singapore Exchange traded 7 points higher at 14,690, indicating a flat-to-positive start for Indian markets on Tuesday.

JSW Energy: The firm said its arm JSW Renew Energy has signed a power purchase agreement (PPA) for supply of 540 MW of blended wind power capacity. The PPA is signed with Solar Energy Corporation of India (SECI).

Tata Chemicals: The company reported a sharp decline in consolidated profit to Rs 29.26 crore in Q4FY21 as against Rs 197.56 crore in Q4FY20.

ICICI Bank: RBI has imposed a Rs 3 crore penalty on ICICI Bank for contravention of prudential norms for classification, valuation and operation of the investment portfolio of banks. RBI found contravention of norms in an instance where the bank shifted securities from one category to another.

Earnings Today: Adani Ports, Alembic Pharmaceuticals, Adani Total Gas, IIFL Securities, RBL Bank, Larsen & Toubro Infotech and Suven Life Sciences are among 20 companies slated to post their March quarter results today.

Motherson Sumi: Auto components major Motherson Sumi Systems said it has completed the acquisition of Bombardier’s electrical wiring interconnection systems (EWIS) business in Huehuetoca, Mexico.

LTTS: Larsen & Toubro Technology Services (LTTS) posted a 5 per cent decline in consolidated net profit at Rs 194.5 crore in the March 2021 quarter. The company had registered a net profit of Rs 204.8 crore in the year-ago period, according to a regulatory filing.

Kotak Mahindra Bank: The board of Kotak Mahindra Bank is cognisant of succession planning and will take a call at the appropriate time, Asia’s richest banker Uday Kotak said on Monday. Kotak who’s tenure as the chief of Kotak Mahindra Bank would end in December 2023 after RBI capped tenure of private bank CEOs, said the board will ensure and maintain long term stakeholder value.

Zuari Agro: The company says it shutdown ammonia and urea plants for annual maintenance effective May 3.

Bafna Pharmaceuticals: The company has added two fully automated packaging lines to its existing capacity and they have been approved by the UK-MHRA (Medicines and Healthcare products Regulatory Agency) for the United Kingdom and the European Union (EU).

Aarti Drugs: Crisil reaffirmed long-term credit rating on the bank facilities of the company at AA-/Stable and short-term credit rating at A1+.