Top Trending Stocks Today: HCL, IndiGrid, Cyient, Reliance Infra & more

Top Trending Stocks Today: HCL, IndiGrid, Cyient, Reliance Infra & more

Results scheduled for April 21st-22nd

On April 21st, Reliance Industries is scheduled to announce its quarterly and full year earnings, which will be closely watched by investors. Several other companies, including Aditya Birla Money, Hindustan Zinc, Tejas Networks, Bheema Cements, Metalyst Forgings, Rajratan Global Wire, and Wendt (India), will also release their quarterly earnings results on the same day.

On April 22nd, ICICI Bank is scheduled to announce its quarterly and full year earnings which will be closely watched by investors. Several other companies including Yes Bank, Macrotech Developers, CE Info Systems, Star Housing Finance, and Nath Bio-Genes (India) will also release their quarterly earnings results on the same day.

HCL Technologies

HCL Technologies Q4 Results 2023: PAT of Rs 3983 Cr Consolidated
HCL Technologies Q4 Results 2023

HCL Technologies, the IT services company, has announced its Q4FY23 earnings, which fell short of expectations. The company’s profit dropped 2.8% QoQ to Rs 3,983 crore, while revenue declined 0.4% to Rs 26,606 crore. On the operating side, EBIT fell 7.5% sequentially to Rs 4,836 crore, resulting in a margin decline of 140 bps to 18.2% for the quarter. Although revenue in dollar terms declined 0.3%, the IT attrition rate improved sequentially, dropping to 19.5% from 21.7%. Additionally, the topline in constant currency terms decreased by 1.2% QoQ.

India Grid Trust

IndiGrid secures Rs 1,140 Cr long-term NCD funding from IFC
IndiGrid secures Rs 1,140 Cr long-term NCD funding from IFC

IndiGrid, a listed infrastructure investment trust, has received a subscription of Rs 1,140 crore from the International Finance Corporation (IFC) for its listed non-convertible debenture (NCD) issuance. The NCD has a total tenure of 18 years and was priced at a competitive rate that is fixed for a long duration. IndiGrid intends to use this debt to fund its refinancing opportunities in the upcoming fiscal year, FY24.

Cyient

Cyient Q4 Results 2023
Cyient Q4 Results 2023

Cyient, an engineering and technology solutions company, has reported a 4.6% QoQ growth in its consolidated profit to Rs 163.2 crore for the quarter ended March FY23. The company’s revenue for the quarter was Rs 1,751.4 crore, showing a growth of 8.2%, while dollar revenue at $213 million increased by 8.1%. The constant currency revenue growth for the quarter was 6.6% QoQ. These strong topline and operating numbers contributed to the growth in profit.

Reliance Industrial Infra

Reliance Infrastructure Q4 Results 2023
Reliance Infrastructure Q4 Results 2023: PAT of Rs 11.54 Cr Consolidated

Reliance Industrial  Infrastructure has released its financial results for the March-ended quarter and the entire fiscal year 2022-23. The company reported a total income of ₹2080 lakh and ₹8093 lakh, up 1% on a quarterly basis and steady for the entire fiscal year. The company also disclosed a net profit of ₹1154 lakh and ₹1756 lakh for the quarter and the entire fiscal year, respectively. This marks a substantial increase of 983% and 110% for the respective periods.

ICICI Prudential Life Insurance

ICICI Prudential Life Insurance
ICICI Prudential Life Insurance

ICICI Prudential Life Insurance Company has reported a 31% YoY growth in premium for March and a 13% growth in premium for the entire FY23 compared to FY22. Additionally, the company witnessed a substantial growth in retail Annual Premium Equivalent (APE) for March, with a YoY growth of 59%. These numbers were reported by CNBC-TV18.

Siemens

Siemens secures Rs. 26,000Cr Indian Railways locomotive contract
Siemens secures Rs. 26,000Cr Indian Railways locomotive contract

Siemens, in partnership with Rail Vikas Nigam, has secured two distinct orders from the Gujarat Metro Rail Corporation (GMRCL), with Siemens’ share in the orders being Rs 678 crore. The orders are for the first phase of the Surat Metro and the second phase of the Ahmedabad Metro.

Finolex Cable

Finolex Cables Rs 200 Cr Pune plant expansion plans revealed
Finolex Cables Rs 200 Cr Pune plant expansion plans revealed

Finolex Cables, the electrical and telecommunication cables manufacturer, has announced plans to establish a new plant at its Urse facility in Pune. The new plant will produce optical fibre preforms and increase the company’s fibre draw capacity. The initial production capacity of the plant is expected to be 100 tons of preforms and the project is estimated to cost Rs 290 crore. The entire cost of the project will be funded through internal accruals.

SBI Life Insurance

SBI Life Insurance Company has reported a 23% year-on-year increase in premium for March and a 16% growth in premium for FY23 compared to FY22. However, the growth in retail APE for March was only 12% YoY.

HDFC Life Insurance Company

HDFC Life Insurance Company, including Exide Life Insurance, has reported an impressive 83% year-on-year growth in premium for March and a 16% growth in the previous financial year. The growth in retail APE for March was even higher at 118% YoY, according to reports by CNBC-TV18.

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