Five midcap stocks to keep on your radar in today’s session!
Check out the midcap companies making headlines in the morning trade session.
Among the midcaps companies Mahindra & Mahindra Financial Services, CRISIL, Amara Raja Batteries, Cummins and Hatsun Agro Products are among the stocks to watch out for. Let us see why!
Mahindra & Mahindra Financial Services: Mahindra Finance saw a huge rally of 7.32% in the morning session following an announcement made by the company on Tuesday. The company said it has raised Rs 500 crore by issuing 5000 Secured Redeemable NonConvertible Debentures (“NCDs”) of the face value of Rs 10,00,000 each. The tenure of the instrument is 2 years and 365 days from the deemed date of allotment and the bond are set to mature on February 14, 2025. The bonds will bear an interest rate of Benchmark +1.65 % p.a. payable annually.
CRISIL: The shares of the company soared an impressive 6.95% at Rs 2893 in the morning session led by its results for the quarter and year ended on December 31, 2021, which were declared yesterday after market close. Its consolidated revenue from operations increased by 16.1% at Rs 2300.7 crore on YoY basis. Profit after tax for the year ended December 31, 2021 increased 31.3% to Rs 465.8 crore. For quarter 4 ended on December 2021, the consolidated revenue from operations rose by 18.2% at Rs 706 crore while Profit after tax jumped by 53.2% at Rs 168.6 crore as compared to the same quarter last year.
Amara Raja Batteries: The Andhra Pradesh High Court has extended the interim suspension by four weeks on the closure order issued by the State Pollution Control Board (APPCB)on the company’s plant at Karakambadi, Tirupati and Nunegundlapalli in Chittoor District, Andhra Pradesh. The next hearing is scheduled for February 28 and the order is awaited. The stock was trading with a gain of 1.6% at Rs 601 at 11.22 am.
Cummins: This stock is in focus after Lorraine Meyer resigned from the Board of the Company as Non-Executive Non – Independent Director and consequently as the Member of Nomination and Remuneration Committee with effect from close of business hours of February 15, 2022. The reason cited for the resignation was the upcoming retirement from the Cummins group and other personal reasons. At 11.22 am, the shares of Cummins were trading at Rs 949 with some marginal loss.
Hatsun Agro Product: The company received a revised rating by CRISIL on the bank loan facilities availed by the company. CRISIL has revised Long term rating to CRISIL AA-/Stable from CRISIL A+/Stable while the Short-Term Rating was revised to CRISIL Al+ from CRISIL Al. At 11.22 am on Wednesday, the stock was trading at Rs 1142.85 with a gain of 2.31%.
Also read: Top buzzing stock: M&M Financial Services
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