Stocks to keep an eye on today: ICICI Bank, Ashok Leyland, Nestle India



News24

LAST UPDATED: Feb. 17, 2021, 2:13 p.m.

New Delhi (Anish Yande): Sensex declined on Monday with a decrease of more than 370 points. The benchmark index was recorded at 52,047 following the opening bell. Sensex declined past the 52,000 mark on Monday, which is at 51,754. Nifty 50 was recorded at 15,304 following the opening bell. The index decreased by 95 points on Wednesday’s trading session. 

ICICI Bank:

ICICI Bank has formalized an agreement with the fintech company Thillais Analytical Solutions Pvt Ltd. The bank acquired a stake of 9.65% in the fintech startup. The company operates the banking platform Vanghee.  The platform connects MSMEs and corporates with banking solutions. Vanghee is assisting ICICI Bank in improving relationships with their customers. 

The bank has also acquired a 5.40% stake in Tap Smart Data Information Services, which owns and operates CityCash. ICICI Bank has finalized the acquisition for a consideration of Rs 4.93 crore. CityCash provides payment and ticket system technology to State Transport Corporations. 

Nestle India: 

Nestle India recorded a rise in its net profit to Rs 483.3 crore in the quarter ended in December 2020. The net profit of the company was recorded at Rs 472.6 crore in the quarter ended in December 2019. The company recorded an increase of 2.25% in net profit. 

The revenue of Nestle India was recorded at Rs 3,149.3 crore in the December quarter of the previous fiscal. Nestle India’s revenue rose to Rs 3,432.6 crore on a year-on-year basis.

TVS Srichakra:

TVS Srichakra has planned a capital expenditure program amounting to Rs 1,000 crore in the December quarter. The company finalized a Memorandum of Understanding with the Tamil Nadu Government for a capital expenditure program. 

READ ALSO :  Vijay Devarakonda hits 10 Million on Instagram

The net profit of TVS Srichakra rose to Rs 36.25 crore, an increase of 183.6 percent.  The net sales of the automobile company rose to Rs572.70 crore in the December quarter.

Ashok Leyland:

Ashok Leyland has acquired a stake of 26 percent in a solar power generating company Prathama Solarconnect. 

Hinduja Renewables has built a solar plant for Ashok Leyland. The solar plant has a capacity of 75 MWp, located in Tamil Nadu. The plant generates more than 120 million units of power on a yearly basis. 

Image Credit: Google



Source link

Leave a Comment