Stocks in news: Axis Bank, Tata Motors, Central Bank, GSK Pharma and more


Sensex and Nifty were likely to open lower today as Nifty futures on the Singapore Exchange fell 77 points, or 0.51 per cent, at 15,083. On Tuesday, benchmark indices zoomed for the second consecutive session this week led by gains in consumer durables and auto stocks. Sensex rose 613 points to 50,193 and Nifty ended 185  points higher at 15,108. Top Sensex gainer was M&M rallying nearly 6 per cent, followed by Bajaj Auto, Titan, Bajaj Finance, HDFC Bank and PowerGrid.

Here’s a look at stocks which are likely to remain in news today.

Axis Bank: The government is selling up to 58 million shares in Axis Bank, held via the Specified Undertaking of the Unit Trust of India (SUUTI) to raise around Rs 4,000 crore.

Tata Motors: The auto firm reported a consolidated net loss of Rs 7,585 crore in Q4 against consolidated net loss of Rs 9,864 crore in the January-March period of FY2019-20. Total income in the fourth quarter of FY’21 stood at Rs 89,319 crore against Rs 63,057 crore in the year-ago quarter.

GSK Pharma: Drug firm GlaxoSmithKline Pharmaceuticals reported a consolidated net profit of Rs 14.33 crore in Q4 against net profit of Rs 138.07 crore for the corresponding period of the previous fiscal.

Central Bank of India: The PSU lender said its shareholders have cleared allotment of preference shares to the government for a Rs 4,800-crore capital infusion.

Minda Corp: The auto components maker reported profit after tax of Rs 12.92 crore in Q4 against a loss of Rs 299.78 crore in the year-ago period.

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Brigade Enterprises: The realty firm logged consolidated net profit at Rs 39.57 crore in Q4 against net profit of Rs 2.68 crore in the year-ago period.

CESL: State-owned CESL said it will procure 300 electric vehicles from Tata Motors. The procurement is a part of the Scaling up Demand-Side Energy Efficiency Sector Project financed by the Asian Development Bank’s line of credit to CESL.

YES Bank: Fair trade regulator Competition Commission of India (CCI) on Tuesday approved the acquisition of Yes Asset Management (India) Ltd and Yes Trustee Limited by GPL Finance and Investments Ltd. The proposed combination envisages the acquisition of 100 per cent equity shares of the two entities by GPL.

Canara Bank: The lender reported a standalone profit after tax (PAT) of Rs 1,010 crore in Q4 on higher net interest income and lower provisioning for bad loans.

Torrent Pharma: The drug firm logged a 3.18 per cent rise in its consolidated net profit at Rs 324 crore in Q4 on the back of continued India business recovery momentum, and cost control. The company had posted a net profit of Rs 314 crore for the corresponding period of the previous fiscal.