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Future Retail, Reliance Industrial Infra, ACC Cement and other stocks in news today

NEW DELHI: The stock market on Tuesday wiped out the session’s gains with selling seen across the board after Russia said it was starting a new stage of what it calls its special military operation in Ukraine.
“Bears attacked the market, especially in the last hour. HDFC twins along with Infosys remained key laggards for the second consecutive day dragging the market sharply. The market remained resilient throughout the day but then there was a sudden sell-off in the last hour and we can say that there could be large FIIs selling post 2:30 PM. Apart from FIIs selling, rising energy prices, geopolitical concerns, and rising US bond yields are key concerns for the market,” said Parth Nyati, Founder, Tradingo.
The market is however, expected, to open in the green on Wednesday morning since the SGX Nifty indicates a positive opening for the broader index in India with a gain of 62 points.
Following are the stocks in news today:
Corporate results today: Reliance Industrial Infra, Tata Elxsi, Angel One, ICICI Securities, Glenmark Life Sciences, JTL Infra, , Add-Shop e-retail, Indbank Merchant Banking Services, and Ind Bank Housing will release quarterly results on April 20.
Future Retail: The company’s electronic voting process for shareholders ended on Tuesday ahead of the meetings of the shareholders and creditors to approve the sale of the company’s retail assets to billionaire Mukesh Ambani’s Reliance Retail despite opposition from e-commerce major Amazon and an insolvency petition from its lenders.
Ansal Housing: Housing finance company HDFC divested 1 per cent stake in real estate company Ansal Housing through an open market transaction. HDFC sold 5,74,726 shares, amounting to 0.96 per cent stake of Ansal Housing for Rs 8.47 apiece.
Larsen & Toubro Infotech: The IT company clocked a four percent sequential growth in profit at Rs 637.5 crore led by higher other income in the March quarter. The company won four large deals with net new total contract value of over $80 million.
ACC Cement: The cement manufacturer registered a 29.6% fall in its net profit to Rs 396.33 crore for the first quarter ended March 31, impacted by a rise in fuel costs driven by the overall geopolitical situation.
Punjab and Sind Bank: The state-owned lender declared Srei Infrastructure Finance and SREI Equipment Finance Ltd accounts as fraud. It said both the companies facing insolvency proceedings are non-performing assets (NPAs).
Mahindra Lifespace Developers: Its subsidiary Mahindra World City Developers received a Rs 102 crore income tax notice. The amount included interest of Rs 43.1 crore against the return of income filed for the assessment year 2016-17 by Mahindra World.
Max Ventures and Industries: The company said its board has approved amalgamation of the company with its wholly-owned subsidiary Max Estates Ltd as a part of group’s restructuring exercise and to focus completely on real estate business.
Mastek: The company posted 16.5 per cent growth in Q4FY22 consolidated net profit at Rs 88.23 crore when compared with Rs 75.71 crore in Q4FY21.
Coal India: India’s largest coal producer has increased its supplies by 14.2 per cent to coal-based electricity generating plants in the first half of the current month, but soaring power demand due to hotter-than-normal summer has dwarfed the upsurge in supplies.
Dabur India: The MCG major plans to induct a fleet of 100 electric vehicles for last-mile product distribution in the next 12 months.
Shankara Building Products, Deepak Spinners, Atam Valves and Wardwizard Innovations & Mobility will hold EGMs today.

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