Stocks in News
Tata Consultancy Services: The company reported lower consolidated profit at Rs 9,008 crore in Q1FY22 against Rs 9,246 crore in Q4FY21, revenue increased to Rs 45,411 crore from Rs 43,705 crore YoY.
Tata Steel: CARE upgraded long term credit rating on the company to AA+ from AA and the outlook to Stable from Negative.
Bharat Dynamics: The company has signed a contract worth about Rs 499 crore with the Ministry of Defence for the manufacture and supply of Akash Missiles to the Indian Air Force.
Texmaco Rail & Engineering: CARE reaffirmed long term credit rating on the company at A-, but downgraded outlook to Negative from Stable.
Jammu & Kashmir Bank: The Reserve Bank of India has imposed a penalty of Rs 1 crore on the bank, on account of contravention of directions contained in circulars on 'Lending to Non-Banking Financial Companies (NBFCs) and Bank Finance to Non-Banking Financial Companies (NBFCs)'.
Sangam Renewables: The company divested its entire stake in its subsidiary Waacox Energy to Aditya Birla Renewable at an enterprise value of Rs 81,57,55,500 on the transaction. The company will use these proceeds to reduce its short-term debt by Rs 40,32,92,379 on a standalone basis.