Stocks that will see action today

K. S. Badri Narayanan | | Updated on: Apr 20, 2022

Buzzing Stocks: Infosys, Tata Elxsi, I-Sec, AngelOne, Bajaj Electricals, Punjab & Sind Bank, SREI Infra Fin, BHEL, BEML, De Nora, VRL Logistics, Oriental Rail, Glenmark Life Science

Infosys Public Services, a US-headquartered subsidiary of Infosys has introduced Infosys LaborForce, a fully integrated, cloud-native Platform as a Service (PaaS) Unemployment Insurance (UI) system. Built on the Salesforce Platform, Infosys LaborForce is a tax, benefits, appeals and workforce solution designed to support State governments in building digital and resilient UI systems. According to the company, the customer-centric solution equips States with advanced CRM and analytics capabilities, a lower long-term cost of ownership, and greater resiliency that can result in better experiences for the US workforce.

Punjab & Sind Bank has announced that two NPA Accounts — SREI Infrastructure Finance Limited (SIFL) with outstanding dues of ₹510.16 crore and SREI Equipment Finance Limited (SEFL) with outstanding dues of ₹724.18 crore —have been declared as fraud and reported to RBI on Tuesday as per regulatory requirement. The bank further said the accounts have been fully provided for as per prescribed by prudential norms.

De Nora India Limited has terminated the Purchase Orders (POs) in view of Bharat Heavy Electricals Limited‘s (BHEL’s) failure to take delivery of certain goods for the Project 2X660 MW Ennore SEZ STPP for supply of Electrolytic Chlorination Plant. This was despite lapse of over two years and also failure to accept company’s proposal to issue a new PO, after taking into account the costs inflicted/incurred due to the delayed delivery to BHEL, which has affected company’s ability to fulfil the conditions of POs. As the project is terminated midway, financial impact is yet to be ascertained.

Bajaj Electricals Limited has announced its partnership with wtec, which is a global developer of technology dedicated to innovation, reducing environmental impact, and enabling smart building use cases throughout the built space. The company has selected the smart engine platform as its infrastructure technology for energy-efficient smart lighting and fine-mesh sensor network. Through this strategic alliance, BEL aims to bring disruptive technology to significantly impact infrastructure operations in terms of smarter solutions, efficiencies in operations, and cost savings.

VRL Logistics Ltd has signed Memorandum of Understanding (MOU) with Ratna Cements (Yadwad) Limited (RCL) for transfer of the wind power undertaking along with all underlying assets and liabilities as a going concern on a slump sale basis for ₹48 crore. The MoU is being entered in order to initiate necessary applications to obtain the requisite transfer approvals from various the government and enable financial arrangements from banks/financial institutions for the buyer.

The Board of Directors of Ishan Dyes & Chemicals Ltd  will meet on Friday to approve the allotment of equity shares of the company at ₹61 each, as warrant holders intimated it to exercise their right to convert the warrants as per the terms.

HCP Plastene Bulkpack has commenced Commercial Production at Rakanpur, Ahmedabad, Gujarat.

Oriental Rail Infrastructure Limited‘s wholly owned subsidiary company, Oriental Foundry Private Limited has participated in e-tender opened to bid by an Indian Railways to manufacture 90,000 wagons.

BEML has signed a contract with Coal India Limited for supply of Rope Shovel valuing ₹118 crore. This being indigenously developed for the first time under Atmanirbhar Bharat by BEML.

The Indian Hotels Company Ltd has signed an agreement to set up another Taj hotel in the city, as part of plans to strengthen its presence in key markets across the country with the addition of the new hotel, IHCL would have 13 in Chennai, including three under various stages of development.

Results Calendar: AngelOne, Add Shop Retail, Glenmark Life Sciences, Indbank Merchant Banking, Indbank Housing, ICICI Securities, JTL Infra, Prerna Infrabuild, Purohit Construction, Reliance Industrial Infra, Tata Elxsi and Tokyo Finance.

Published on April 20, 2022
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