Stocks in news: Wipro, Tata Steel, Vodafone Idea, Ashoka Buildcon and more


Indian equity market is likely to open flat today. On Thursday, benchmark indices managed to close higher in a highly volatile session led by gains in banking and metal stocks. After moving 877 points during the session, Sensex ended 259 points higher at 48,803 and Nifty rose 76.65 points to 14,581.45.

Wipro: The firm reported a 27.7 per cent year-on-year (YoY) rise in its consolidated net profit at Rs 2,972.3 crore in Q4. Sequentially, the company’s net profit declined 0.8 per cent from Rs 2,997.8 crore in December quarter.

Tata Steel: The steel firm has unveiled its transformation plans for a steel tube-making site in the UK’s East Midlands, which it said will give the business the best chance of a strong future.

Ashoka Buildcon: The company has received a Letter of Award from Gujarat Rail Infrastructure Development Corp for project – Gauge Conversion of Bechraji – Ranuj section, with 25 KV AC electrification in Ahmedabad division of Western Railway. Project cost is Rs 333.625 crore.

Vodafone Idea: Vodafone Idea has now made full payment with interest following a show-cause notice from the department of telecom on non-payment of licence fee in seven circles. 

IL&FS: Bankrupt infrastructure financier IL&FS has raised its debt recovery target to  Rs 61,000 crore, almost 62% of the total financial debt. The new board led by veteran banker Uday Kotak said it had so far resolved debt worth Rs 43,000 crore.

Dabur India: The FMCG firm crossed  Rs 1 trillion in market capitalisation on Thursday, after its stock rose 1.6% to a fresh high of  Rs 569.20.

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Mahindra & Mahindra: Auto firm Mahindra & Mahindra (M&M) said its different factories in Maharashtra are operating with lower levels of manning while adhering to specified protocols in the wake of restrictions imposed by the state government.

L&T: Larsen & Toubro (L&T) has bagged significant orders in Q4. In the nuclear field, L&T Heavy Engineering secured order for 12 steam generators (SGs) for 3 x 700 MWe pressurized heavy water reactors (PHWR). steam generators, reactor headers and pressurizers are critical equipment of nuclear power plants.

Ashok Leyland: Commercial vehicles maker Ashok Leyland said it along with Hinduja Leyland Finance has incorporated a company to take care of the freight mobility business.