Five largecap names that investors should keep an eye on today
Check out the largecap companies making headlines in the morning trade session.
Among the largecap companies, ICICI Bank, HDFC Bank, Linde India, Voltas, and Torrent Power are among the stocks that are in the news on Monday. Let us see why!
ICICI Bank: India’s second-largest private banker (by market capitalization) posted an increase of 59% in Q4 consolidated net profit of Rs 7,019 crore on a YoY basis. Consolidated advances grew by 17% to Rs 859,020 crore as of March 31, 2022. The consolidated net profit for the year ended March 31, 2022, was Rs 25,110 crore, up 37%, same day last year. At 10:30 am on Monday, ICICI Bank was trading at Rs 760, up 1.6% or Rs 12.5 per share.
HDFC Bank: The largest bank by market cap in its board meeting has recommended a dividend of Rs 15.50 per equity share of Rs 1. In the board meeting held on April 23, 2022, the board recommended the dividend after recent Q4 results. The stock has been trading flat today at Rs 1,350 as of 10:30 am, down by 0.25%.
Voltas: The cooling giant witnesses block deals as T Rowe Price Associates, Inc and T Rowe Price International increased their shareholding from 7.04% to 7.14% by purchasing 3.57 lakh equity shares of the company. At 10:30 am, the stock was trading down by 1.3% at Rs 1,244 on the BSE.
Linde India: On 22nd April the company announced acquiring a 26% stake in Avaada MHYavat Pvt Ltd for a sum of Rs 11.4 crore. The target company is engaged in the renewable power industry. The company aims to purchase renewable power such that it reduces tariff and increase cost savings. At the time of writing, shares of Linde India were trading at Rs 3,404, down by 2%.
Torrent Power: The company has announced that it has acquired a 50 MW solar power plant from SkyPower Group. It has entered into a share purchase agreement with SkyPower Group for the acquisition of 100% stake in Sunshakti Solar Power Projects Pvt Ltd. Torrent Power has significant renewables capacity, and the acquisition is a step ahead to strengthen the same. At the time of writing, Torrent Power was trading at Rs 536, down 0.9% or Rs 5.8 per share.
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