Union bank

Stocks to watch: Infosys, Tata Steel, Union Bank Of India, Tvs Motor

NEW DELHI: Here is a list of actions that could be targeted on Wednesday:

Infosys: The IT major will announce its results for the fourth fiscal quarter on Wednesday. Analysts expect Infosys to guide double-digit revenue growth for FY23 while keeping its Ebit margin forecast in the 22-24% range.

Tata Steel: Completed the acquisition of the entire 50% stake held by Steel Authority of India, in S&T Mining Company. Its subsidiary Tata Steel Mining Ltd has acquired indebted Rohit Ferro-Tech Ltd for 617.12 crores via an insolvency resolution process on Tuesday.

Union Bank of India: The lender will buy out the 75% stake jointly held by Bank of Baroda and Indian Overseas Bank in India International Bank Malaysia. The proposal awaits formal approval from RBI. It will also require government approval, including the green light from the Ministry of Foreign Affairs, as the bank is of strategic importance.

TVS engine: Swiss E-Mobility Group (Holding) AG, a subsidiary of the company, acquired 100% of the capital of Alexandr’Ro Edouard’O Passion Vélo Sàrl for CHF 2.79 million. The Company is engaged in the sale of electric bicycles as well as electric bicycle accessories.

Capital Dependency: Amid an impasse over the tender process for Reliance Capital Ltd (RCL) and its debt-ridden subsidiaries, lenders have dismissed concerns raised by the RBI-appointed administrator and decided to to move forward with their own proposal. In November, the RBI replaced RCL’s board following payment defaults and governance failures.

Hathway Cable & Datacom: announced a 60.6% year-on-year decline in its consolidated net profit at 28.42 crores for the quarter ended March 2022. Total revenue during the period increased by 3.32% to reach 462.87 crores.

Fino Payments Bank: Will buy a minority stake in New Delhi-based fintech PaySprint for an undisclosed amount. The bank acquires up to 12.19% of the capital of the company which offers APIs (application programming interfaces) in the fields of banking, payments, travel, loans, insurance and investments.

ICICI Bank: The private sector lender at a board meeting scheduled for April 23 will consider raising funds through a debt issuance.

Veranda Learning Solutions: Nomura Singapore left the company by selling an additional 7,78,600 shares at an average price of 162.51 each, via open market transactions. The European financial services group Societe Generale acquired 7,68,398 shares of Veranda at an average price of 162.50 each.

McDowell Holdings: The National Court of Company Law initiated collective proceedings against the company and appointed a professional adviser. The NCLT admitted the plea filed by Sun Star Hotels and Estate Pvt Ltd, a financial creditor of the former company promoted by Vijay Mallya, claiming default of 16.80 crore.

To subscribe to Mint Bulletins

* Enter a valid email

* Thank you for subscribing to our newsletter.