Five largecap names that were in focus today!

Among the largecap companies, HDFC Bank, Mahindra & Mahindra, Zydus Lifesciences, Tata Steel and Ultratech Cement were among the stocks that were in news on Monday. Let us see why!   

HDFC Bank: India’s largest private banker (by market capitalization) posted an increase of 23.8% in Q4 consolidated net profit of Rs 10,443 crore on a YoY basis. Consolidated advances grew by 19.9% from Rs 1,185,284 crore as on March 31,2021 to Rs 1,420,942 crore as on March 31, 2022.The consolidated net profit for the year ended March 31, 2022, was Rs 38,053 crore, up 19.5% the same day last year. The stock closed 4.6% on the lower side on Monday.

Mahindra & Mahindra: The company will sell 34,75,264 equity shares of Rs 10 each of Mahindra Sanyo Special Steel Private Limited (MSSSPL) constituting 22.81% of the Paid-up Capital of MSSSPL to Sanyo Special Steel Co Ltd (Sanyo) pursuant to exercise of a Put Option available to the company on Sanyo under the shareholders’ agreement. In a separate filing the company has also announced a price hike of 2.5% on its range of vehicles which will increase to Rs 10,000- Rs 63,000 on the ex-showroom price across the range effective from April 14, 2022. In Monday's trading session, the stock closed 0.92% higher.  

Zydus Lifesciences: The company has received final approval from the USFDA to market Cyanocobalamin Injection which is used to treat and prevent lack of vitamin B12. The drug will be manufactured at the group’s injectables manufacturing facility at Jarod, Gujarat. The group now has 331 approvals and has so far filed over 400 ANDAs since the commencement of the filing process in FY 2003-04. The share ended the session almost on a flat note being 0.055% up.

Tata Steel: The company in its board meeting will consider a proposal for a sub-division of the equity shares of the company having a face value of Rs 10 each. The board meeting is proposed to be held on May 3, 2022. The stock has been rallying in today’s opening session, gaining 3% from the previous close of Rs 1319.50. The stock closed the session 1.57% on a higher side.

UltraTech Cement: The company has announced that it has invested in 29.39% equity share capital of RAK Cement Co for White Cement and Construction Materials PSC', (RAKWCT) a company listed on the Abu Dhabi and Kuwait stock exchanges. The investment is made through its wholly-owned subsidiary, UltraTech Cement Middle East Investments Limited, (UCMEIL). The transaction price of this investment is USD 101.10 million. The stock settled the trading session 1.42% lower.