Stocks in News
Veranda Learning Solutions: The learning solutions provider has acquired T.I.M.E. (Advanced Educational Activities Pvt Ltd), the leading test-prep institute with a pan-India presence operating through 188 centres. The company bought T. I. M. E. for Rs 287 crore.
Lemon Tree Hotels: The company has signed a License Agreement for a 60 room hotel at Kharar, near Chandigarh under the brand 'Lemon Tree Hotel'. The hotel is expected to be operational by November, 2025. Its subsidiary Carnation Hotels will be operating and marketing this hotel.
Mahindra CIE Automotive: Profit in the quarter ended March 2022 grew by 1,499 percent year-on-year to Rs 161.43 crore due to lower tax expenses and higher revenue growth. Topline increased 18.2 percent to Rs 2,588.4 crore compared to corresponding period last fiscal.
Aarti Industries: Life Insurance Corporation of India acquired additional 2.24 lakh equity shares in the company via open market transactions on April 22. With this, LIC's stake in the company stands increased to 5.03 percent, up from 4.97 percent earlier.
Gujarat Mineral Development Corporation: The company recorded consolidated profit at Rs 177 crore for the quarter ended March 2022, against loss of Rs 184.64 crore in same period last year, driven by topline. Revenue grew by 87 percent year-on-year to Rs 1,057.3 crore in the same period.
The Ruby Mills: The company has repaid its entire term loans and all unsecured loans of Rs 145 crore.
Tatva Chintan Pharma Chem: The company reported a 17 percent year-on-year decline in profit at Rs 17.51 crore for March 2022 quarter, dented by lower topline and operating income. Revenue fell 9.3 percent to Rs 98.53 crore during the same period, with margin declining 200 bps YoY.