MMTC: The state owned distribution company s board has approved the debt restructuring scheme of the state-owned company which envisages settlement of dues out of the disinvestment proceeds of the Neelachal Ispat Nigam Limited (NINL).
Bata India: The shoemaker reported 23.3 per cent fall in consolidated net profit at Rs 29.47 crore for the fourth quarter ended March 31, 2021. The company had posted a net profit of Rs 38.40 crore in the year-ago period.
Tech Mahindra: The IT major is looking for acquisitions in Europe to upgrade its capabilities in various segments, including cloud computing, 5G, SAP and Salesforce softwares, a senior company official said on Wednesday.
Analysts say Q4 numbers are quite telling about YES Bank health, cut price targets
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Analysts said the private lender’s disclosed stressed pool remains high, even as signs of improvement become visible.
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NEW DELHI:
YES Bank s Rs 3,788 crore loss in March quarter, triggered by interest reversals and accelerated provisioning, did not go down well with Dalal Street, as the scrip plunged as much as 13 per cent in Monday’s trade, only to recover some ground later.
Analysts said the private lender’s disclosed stressed pool remains high, even as signs of improvement become visible. They remained cautious on the incremental stress on the corporate book and pegged their price targets in the Rs 12-16 range.
Here are the top stocks to track in today s session:
TCS: The IT major s net profit for the March quarter rose 14.9% year-on-year (YoY) and 6.2% quarter-on-quarter (QoQ) to Rs 9,246 crore. Meanwhile, the revenue for the quarter stood at Rs 43,705 crore, up 5.9 per cent YoY and 4.2 per cent QoQ. The biggest takeaway from the Q4 numbers was the order book at $9.2 billion, the highest ever reported by TCS in a quarter since the company started reporting this metric.
Yes Bank: Sebi imposed a penalty of Rs 25 crore on Yes Bank in the matter of misselling the lender s AT-1 bonds few years ago. Besides, the watchdog has imposed a fine of Rs 1 crore on Vivek Kanwar, who was the Managing Director of Yes Bank, Rs 50 lakh each on Ashish Nasa and Jasjit Singh Banga, who were part of the bank s private wealth management team at the time of violation.