Month: April 2021

Tata Steel raises daily oxygen supply to 600 tonnes

Tata Steel raises daily oxygen supply to 600 tonnes

Tata Steel on Monday said it has increased its daily oxygen supply limit to 600 tonne a day to health centres for the treatment of COVID-19 patients.

On the directions of the steel ministry, steel plants in the country are supplying liquid medical oxygen (LMO) to various states amid rising demand for the gas.

In a tweet, Tata Steel said, TataSteel has increased supplies of liquid medical oxygen to 500-600 tonnes per day with increased logistics support. We are closely working with GoI (Government of India) and states to augment the availability and save lives.”

Last week, a Tata Steel spokesperson had said the company was supplying 300 tonne of LMO daily to various states.

*View: Big Salute to the spirit of Tata*

Stock In News for 26th April 2021, Monday.

Stock In News for 26th April 2021, Monday.

*Balrampur Chini:* The Outlook on the long-term rating has been revised from Stable to Positive by CRISIL. (Positive)

*Wendt Q4:* Standalone Sales higher by 83 percent, PAT higher by 648 percent (Positive)

*Control Print Q4:* Profit at Rs 10.6 crore versus Rs 2.7 crore, Revenues at Rs 61.1 crore versus Rs 46.2 crore YoY (Positive)

*ICICI Bank:* The bank reported a net profit of Rs 4,402.6 crore in Q4FY21 as against Rs 1,221.4 crore while net interest income jumped to Rs 10,431 crore from Rs 8,928 crore, YoY. (Positive)

*Hester:* Company launched a range of Herbal Veterinary Products. (Positive)

*Ramco Systems:* Company established a subsidiary in Japan (Positive)

*Wipro* achieves Google Cloud Partner Specialization in Application Development (Positive)

*RK Forging:* Company has started commercial production of 7000T Press from its Plant-V, situated at Saraikala, Jamshedpur (Positive)

*JSW Energy:* The Barmer Plant successfully completed a best practice Five Star Occupational Health and Safety Audit conducted by the British Safety Council demonstrating. (Positive)

*JSW Steel* to supply 900 tonnes oxygen daily; estimates oxygen supply of 20,000 tonnes by April end. (Positive)

*Steel makers* supply 1.43 lakh MT medical oxygen since Sep 20: Official data. (Positive)

*Morepen Laboratories:* The company said its board will meet this week to consider fundraising. (Positive)

*Srei Infrastructure Finance:* The company’s wholly-owned subsidiary Srei Equipment Finance has received an expression of interest for capital infusion from Cerberus Global Investments (Positive)

*Hathway:* Company announced OFS upto 20.54 crore share with floor price Rs 21.5 per share (Neutral)

*Shalby:* Company announced OFS upto 58.1 lakh share with floor price Rs 111.0 per share. (Neutral)

*AB Capital Q4: Profit at Rs 3.7 crore versus Rs 2.8 crore, Revenues at Rs 49.0 crore versus Rs 44.5 crore YoY*. (Neutral)

*M&M Fin Q4: Profit at Rs 218.0 crore versus Rs 238.0 crore, Revenues at Rs 2895.0 crore versus Rs 2989.0 crore YoY*. (Neutral)

*HCL Tech Q4: Profit at Rs 2962.0 crore versus poll of Rs 3000.0 crore, Revenues at Rs 19641.0 crore versus poll of Rs 19824.0 crore*. (Neutral)

*IB Real Q4:* Profit at Rs 94.5 crore versus Rs 109.7 crore, Revenues at Rs 731.7 crore versus Rs 721.7 crore YoY (Neutral)

*Oriental Hotels:* The company reported a standalone net loss of Rs 4.64 crore in Q4FY21 as against a loss of Rs 18 lakh, YoY. Revenue fell to Rs 54.21 crore from Rs 72.20 crore, YoY. (Neutral)

*F M Goetze:* Company announced OFS upto 1.11 crore share with floor price Rs 250.0 per share. (Negative)

*Zuari Agro Chemicals:* The company’s NPK B Plant has been shut down since 24th April 2021 due to the unavailability of raw materials. (Negative)

Covid-19 Pandemic: Steel Plants In India Hike Oxygen Production Capacity

Covid-19 Pandemic: Against the2,834 metric tonnes of daily LMO production capacity in steel sector, as on April 24 it was 3,474 metric tonnes.

SBI CARDS: DUE TO COVID-19, IN QTR CREATED ADDITIONAL MANAGEMENT OVERLAY ON EXPECTED CREDIT LOSS ON LOAN BALANCES OF 2.97B RUPEES:sunny:SBI CARDS & PAYMENT: Q4 SL NET PROFIT 1.75B RUPEES VS 835.5M (YOY); EST 2.8B || Q4 REVENUE 23.09B RUPEES VS 24.33B (YOY)
HDFC LIFE Q4 : Net Profit Up 2 % to Rs 18 cr (YOY)

Net Premium income Up 22.6 % to Rs 12870 cr (YOY)

CASTROL INDIA Q4 : Net Profit up 92 % to Rs 240 cr (Yoy)

Revenue Up 65 % to Rs 1139 cr

BANK OF MAHARASHTRA: BOARD MEETING ON APRIL 29 TO CONSIDER THE PROPOSAL OF RAISING OF CAPITAL THROUGH FOLLOW-ON PUBLIC OFFER (FPO) / RIGHTS ISSUE / QUALIFIED INSTITUTIONAL PLACEMENT (QIP) ISSUE, PREFERENTIAL ISSUE OR ANY OTHER MODE

Indian stock market news and updates from leading newspapers for 26th April 2021, Monday.

Business Standard for 26th April 2021, Monday.

Ø Oil ministry tells ONGC to sell oilfields; hive off drilling, other services

Ø Richer nations in Asia-Pacific may recover faster than poorer counterparts post pandemic: Report

Ø India’s top life insurers – LIC, ICICI, HDFC, SBI – are set to invest in InvITs, REITS

Ø UK sending ‘vital medical equipment’ to India to aid Covid fight

Ø DPIIT’s control room started working from April 24; gets 12 queries on day one

Ø Morepen Labs betting big on diagnostics devices segment: CMD

Ø RIL in talks with VRV Asia Pacific to buy tankers for liquid medical oxygen

Ø Commercial viability alone must drive bank stakes in insurance: Irdai chief

Ø GoAir bets on ultra-low-cost carrier model to consolidate market position

Ø Samsung unit considers $673 million solar power plants in Texas -documents

Ø Green certificates trading shrinks to 920,000, 6 mn inventory piles up

Ø Big groups plan O2 storage, transport; PM Cares Fund for 551 plants

Mint for 26th April 2021, Monday.

Ø ITC to airfreight oxygen containers from Asian countries

Ø SP Group files review petition before Supreme Court

Ø DBS in ‘advanced talks’ to buy Citi’s consumer banking business in India

Ø Franklin Templeton investors to get ₹2,000 cr next month

Ø Srei Infra appoints KPMG as forensic auditor for its debt restructing plan

Ø State-run oil firms to set up medical oxygen generation plants at 93 locations

Ø HCL Tech to shift workload from India to deal with Covid-19 surge

Ø Credit Suisse’s $5.5 billion Archegos hit enters big league of bank losses

Ø 100 million first-time borrowers likely to apply for loans every year: Cibil

Business World for 26th April 2021, Monday.

Ø  Over 81pc wheat area harvested; pulses & oilseeds harvest over amid pandemic: Govt

Ø  Steel makers produce 3,474 ton/day liquid oxygen, more than capacity

Ø  Bharat Biotech Announces Covaxin Prices; Rs 600 For State Govts, Rs 1200 For Pvt Hospitals

TATA STOCKS and SOLAR & WILSON : Shapoorji Pallonji Group files review petition in Supreme Court challenging verdict favouring Tatas against Cyrus Mistry

In a judgment dated March 26, 2021, the apex court had ruled in favour of the Tatas and set aside a December 2019 order of the National Company Law Appellate Tribunal, which had reinstated Cyrus Mistry as the Chairman of the diversified conglomerate.

ZAURI AGRO : Zuari Agro Chemicals Limited has announced that the NPK B Plant has been shut down since 24th April, 2021 due to unavailability of raw materials. (Negative)

PNC INFRATECH:PNC Infratech Ltd receives appointed date for a Highway Project on EPC Mode

Indian stock market news for 26th April 2021 (Monday). From Economic Times.

Indian stock market news for 26th April 2021 (Monday).

• World’s Fastest Recovery Outlook at Risk as Virus Hits India

• India’s Urban Affluent Hit by Virus Wave After Earlier Dodge

• India Penalizes Amex, Diners For Flouting Data-Storage Rules

• India Airlifts Oxygen From Singapore as Virus Depletes Supply

• Oxygen Giant Diverts Supply to India’s Overwhelmed Hospitals

• India to Give Free Rice, Wheat for 2 Mths to 800 Million People

• ICICI Bank’s Profit Jumps Over Threefold on Interest Income

• India Asks Twitter to Block Posts Critical of Virus Handling

• United Temporarily Suspends Delhi Flights Citing Covid Protocol

• Oil Traders Fret Lack of Indian Interest in West Africa’s Crude

• RBI Extends Higher Ways and Means State Advances by Six Months

• India to Give Free Rice, Wheat for 2 Mths to 800 Million People

• India Forex Reserves Rise $1.2b to $582.4b in Week to April 16

• Covid Chaos, Bond Supply Concern Derails Another India Auction

o India Sells INR220B of Bonds Versus INR320B Plan: RBI

• Global Funds Sell Net INR13.6B of India Stocks on April 23: NSE

o Domestic funds buy net 17 billion rupees of stocks

• Foreign Investors Sell Net INR9.04B of Indian Equities April 22

• Foreigners Buy Net INR15.2B of Indian Equity Derivatives April 23

• Lockdown in Delhi extended by another week as COVID-19 cases surge: PTI

• Oxygen Express with 70 tonnes of oxygen to reach Delhi Monday night: Railways: PTI

• India fastest to administer 14 crore doses of COVID-19 vaccine: Health Ministry: PTI

• American Express Working With India’s RBI on Concerns: ET NOW

• Aban Offshore (ABAN): Says resume operations at ABAN III Rig

• Cadila Healthcare (CDH): Gets India emergency use nod for moderate Covid treatment

• GMR Infrastructure (GMRI): Says creates pledge on 5m shares of GMR Infra April 23

• HCL Tech (HCLT): HCL Tech 4Q Rev. 196.4B Rupees, Est. 198.41B

• HCL Technologies (HCLT): 4Q net income -65% y/y to 11b rupees, misses est. 32.6b; 4Q tax paid 22.6b vs.
7.13b y/y; Sees FY22 revenue growth double digits

• ICICI Bank (ICICIBC): 4Q net income 44.03b rupees vs. 12.2b y/y, misses est. 45.1b; provisions 28.8b; Gross NPA 496% vs 5.42% q/q; Net interest margin 3.84% vs. 3.87% y/y

• Indiabulls Real Estate (IBREL): 4Q net income 944.2m rupees vs. loss 1.1b y/y; Revenue jump to 7.32b vs. 1.16b y/y

• M&M Financial (MMFS): 4Q net income 1.5b rupees Vs. 2.2b Y/y

• SREI Infrastructure Finance (SREI): Says SREI Equipment Finance gets EoI from 3rd global investor Cerberus Global Investments

• Zuari Agro (ZUAC): Says its NPK B plant shut down since April 24 due to unavailability of raw materials.

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