Stocks to watch: Hdfc Bank, Infosys, M&m, Tata Power

Here is the list of the top 10 stocks likely to take center stage on Monday:

HDFC Bank: The country’s largest private sector lender, HDFC Bank, on Saturday announced a 23% increase in its autonomous net profit to 10,055.20 crore for the March quarter, driven by growth in loan demand across all categories and lower provisioning as bad debts were reduced.

Infosys: Infosys Ltd. gave a sales forecast below analysts’ estimates, signaling a slowdown in demand for software and IT services as companies abandon work-from-home agreements in a post-pandemic world. Revenue in this fiscal year ending March 2023 will grow 13% to 15% in constant currency terms, lagging the 17% growth that analysts had forecast on average.

ICICI Pru Life: ICICI Prudential Life Insurance recorded a double jump in net profit on Saturday to 185 crores for the January-March quarter due to robust new business growth. The company had made an after-tax profit of 64 crore for January-March FY2021, ICICI Prudential Life Insurance said in a regulatory filing.

Mahindra Holidays & Resorts: Mahindra Holidays & Resorts India Ltd announced on Saturday that it will increase its stake in Rocksport Pvt Ltd, a company engaged in soft adventure activities and learning programs, to 23.42% with the acquisition of a just over 4.88 lakh shares for 12 crore. The company has agreed to subscribe for an additional 4,88,321 shares of Rocksport in three tranches for a total cash consideration of 12 crore, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a regulatory filing.

Mahindra and Mahindra: The company said on Saturday that it had agreed to sell more than 34.75 lakh shares, constituting 22.81% of paid-up capital, of Mahindra Sanyo Special Steel Pvt Ltd (MSSSPL), to Japanese company Sanyo Special Steel Co Ltd in a Offer of 212 crores.

Indigo: IndiGo, promoted by InterGlobe Aviation Ltd., has appointed Vikram Singh Mehta, former chairman of the Shell group of companies in India, and BS Dhanoa, former air chief marshal, as independent non-executive directors of the board of administration of the airline.

Tata Power: Tata Power said on Thursday that a consortium led by the American company BlackRock Real Assets would invest 4,000 crores in its subsidiary, Tata Power Renewable Energy Ltd, for a stake of more than 10%. Abu-Dhabi-based investment firm Mubadala Investment Company (Mubadala) is also part of the GreenForest consortium, Tata Power Company said in a statement.

UltraTech Cement: The first cement company in the country, UltraTech Cement, announced on Friday an investment of 101.10 million USD (approximately 839.52 crore) for a 29.39% stake in RAK Cement Co for White Cement and Construction Materials PSC (RAKWCT), based in the United Arab Emirates. It is a “strategic investment” for the company, group firm Aditya Birla said in a regulatory update.

Petroleum marketing companies: Crude prices are still hovering above $100 a barrel and should benefit the OMC.

Windlas Biotech: Windlas Biotech Ltd announced on Thursday that it has concluded the European Union Good Manufacturing Practices inspection carried out by the National Institute of Pharmacy and Nutrition, Hungary, for its Plant IV in Dehradun with zero critical observations. This will help the company expand its presence in the European market, the company said.

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