5 midcap stocks that you should keep on the radar on July 20
These are the companies investors are discussing today.
Sterlite Technologies Limited (STL) bags order worth Rs 250 crore for setting up an optimal network for one of India’s leading telecom operators. STL is already partners with this telecom operator, however, this multi-year deal would further boost allies between them. According to this deal, STL will be providing high performance specialized optical fibre communication network across 9 telecom circles in India.
Lupin has launched its first reference laboratory in Ranchi. This reference laboratory would be able to perform a wide range of routine and specialized tests in molecular diagnostics, cytogenetics, flow cytometry, histopathology, cytology, microbiology, serology, haematology, immunology, and routine biochemistry.
Before the 5G spectrum, based on the earnest money deposited (EMD) figure, telecom analysts are predicting Vodafone Idea Ltd to possibly lag Airtel and Jio in terms of 5G deployment.
According to a disclosure from the Department of Telecommunications, Vodafone Idea has submitted an EMD of Rs 2,200 crore. This amount is quite small compared to the top 2 telecom provider deposits- Airtel (with Rs 5,500 crore worth EMD), and Reliance Jio with Rs 14,000 crore EMD. EMD serves as a good indicator of a Telcom’s bidding strategy because it permits an operator eligibility points that allow it to target a specified number of airwaves spectrum in particular circles.
L&T Finance Holdings is in the news as the company reported robust Q1 results. The company’s net profit is recorded at Rs 262 crore, showcasing 50% YOY growth. The highlight of the quarterly results is that the company reported its highest ever retail disbursements figure. The retail disbursements stood at Rs 8,938 crore, a QOQ increase of 10%. Due to higher disbursements, the company also saw a rise in its retail book and fees received. The company’s retail business saw solid business growth across all products. However, a rise in NPA was observed from 3.8% in the previous quarter to 4.08% this quarter.
Thermax has agreed to invest in Covacsis Technologies up to a maximum of Rs 9.99 crore by purchasing 43,192 Cumulative Convertible Preference Shares (CCPS). This investment will help Thermax to own a 16.667% stake in Covacsis Technologies.
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