Stocks that will see action on April 8

K. S. Badri Narayanan | | Updated on: Apr 08, 2022

Buzzing stocks: Lupin, Infosys, Sobha, Sonata Software, Cholamandalam Investment, Ashapuri Gold Ornaments, Hester Biosciences, Paras Defence, Yash Pakka

Sobha said that it has achieved its best-ever sales volume and sale value during FY22. During FY22, Bengaluru, Pune, Gurugram, and GIFT City regions have shown high growth in terms of sales value and volume which is the highest ever since inception. Cash flows during the year remain strong resulting in net debt reduction as compared to FY21.

“We have improved the price realisation from past few quarters, which would act as margin protection against recent cost increase,” it further said. It achieved a total sales volume of 1.34 million sq ft of super built-up area and the highest ever realisation of ₹1,110 crore.

Infosys and Rolls-Royce extended their strategic collaboration with the launch of the joint ‘Aerospace Engineering and Digital Innovation Centre’ in Bengaluru. This centre will provide high-end research and development (R&D) services integrated with advanced digital capabilities to Rolls-Royce’s engineering and group business services from India.

Cholamandalam Investment and Finance Company Ltd has announced the operation update for the quarter and year ended March 31, 2022. Disbursements for Q4 FY22 stood approximately at ₹12,718 crore as against ₹8,071 crore in Q4 of FY21 which is a growth of 58 per cent, and for FY22 stood approximately at ₹35,489 crore as against ₹26,043 crore which is a growth of 36 per cent.

Global pharma major Lupin Limited (Lupin) has launched Merzee (norethindrone acetate and ethinyl estradiol capsules and ferrous fumarate capsules), 1 mg/20 mcg, in the US market, under an exclusive license, marketing, and distribution agreement with Slayback Pharma LLC (Slayback). Slayback had earlier launched this product in the US in February 2021. The products had an estimated annual sales of $90 million in the US (IQVIA MAT February 2022).

The board of Sonata Software has approved the appointment of Samir Dhir as CEO of the company from April 8. Srikar Reddy is voluntarily stepping down as the CEO and will be continuing as the Managing Director of the company, it said in a statement to the exchanges.

Ashapuri Gold Ornaments Ltd, has received orders worth ₹30 crore during the country's first B2B jewellery Expo "India Gem & Jewellery Show (GJS 2022)" held in Mumbai from April 3 to April 6.

Leading corporate and jewellery brands from domestic and international markets including Malabar Gold, PNG Jewellers, TBZ, Sree Kumaran Thangamaligai, Lalithaa Jewellery Mart, Manappuram Gold, among many others, visited the company's stall during the four-day exhibition.

Of the total order, around ₹25 crore is from the domestic corporate and retail brands, and the rest is from international brands. The order book will be executed in the current financial year of FY2022-23, it said.

The board of directors of Hester Biosciences Limited has approved the execution of the Grant-in-Aid Letter Agreement for a grant of ₹60 crore (in a phased manner) to the company by Biotechnology Industry Research Assistance Council (BIRAC), a government of India enterprise to support Covid vaccine manufacturing under ‘Mission Covid Suraksha’.

Paras Defence and Space Technologies Limited has been awarded the Transfer of Technology (ToT) of Optronic Submarine Periscope as developed by IRDE, DRDO. This ToT for submarine periscope can be considered one of the most critical naval technology, and hence can be a very big step in the direction of Atmanirbhar Bharat for defence technologies. DRDO has always inspired the Indian defence industry, and events like the ToT hand-over further indicates a strong commitment by the DRDO to work with the Indian industry as development partners.

AVRO India, one of the leading manufacturers of plastic molded furniture products has migrated to the main board of NSE and BSE from NSE Emerge. This is yet another achievement for the company and propels the company to the next stage of its growth path. The company got listed on the NSE Emerge in July 2018. The IPO had come with a price of ₹51 and the company has given a bonus of 21:10 to its shareholders in January 2022.

The board of directors of Yash PakkaLimited has approved the investment of 97.5 per cent share capital of Pakka Impact Limited. The board has approved the total investment in Pakka Impact up to ₹5 crore by way of loans, guarantees, and securities. Pursuant to the above investment, Pakka Impact will become a subsidiary of the company. The board has approved for formation of a wholly-owned subsidiary in Singapore — Pakka PTE.

Published on April 08, 2022
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