Stocks in News Today

Stocks in News Today. Top stocks which are in news: ACC Limited, Sona Comstar, JTL Infra, Atul Auto, Nykaa, Angle Broking, Glenmark Life Science

Stocks in News Today

Publish Date: April 21, 2022

Greetings Investors!! Here are top stocks which are in news.

ACC Limited reports March 2022 quarter result. Year on year Sales are up by 3% but profitability has taken a hit. EBITDA down by 26% and PAT by 30%. EBITDA margin has declined from 20% to 15%. Due to sharp rise in raw material and fuel price. Raw material cost up by 14%, while power and fuel cost up by 32%.

Sona Comstar announces strategic partnership with Enedym Inc. to produce magnet-less EV motors. Enedym owns a patented technology to make EV motors, which does not require permanent magnets or other rare earth metals. Sona would use this technology to make EV motors for 3 wheeelers for India market. Motors produced with this technology is expected to have significant cost advantage as well as high efficiency in harsh environment like high-temperature conditions.

JTL Infra is a steel tube manufacturer. Sales for March quarter grew by 47% Year on year, Rs 301 Cr from Rs 204 Cr. Gross margin has improved by 158bps due to improved product mix, leading to PAT of 16 Cr, 31% rise from last year. Full year EPS for FY2022 is Rs 8.45 vs Rs 3.78 of last year. Share price has gained ~22% in last one month.

Atul auto is developing the prototype cargo and passenger three wheelers using Honda's E-swap technology. The vehicles will have battery swapping functionality. Atul Auto manufactures and sales Auto Rickshaws in domestic and overseas market. Some of their brands: Shakti, Elite, Gemini, Gem

Beauty and Lifestyle retailer Nykaa partners with Global haircare leader Aveda to launch Aveda X Nykaa. Salon would be providing 100% vegan premium Hair services - Color, haircut styling and haircare along with exclusive rejuvenating rituals.

Angle broking posts robust growth. Sales 64% up from Rs 409 Cr in March FY2021 to Rs 671 Cr in FY2022. Profit after tax became more than doubled from 102 Cr to 205 Cr. Company attributes the growth to tech adoption.

Glenmark life science reports 10% YoY growth on sales but PAT down by 5% due to higher other expenses. Free cash flow for the company has increased from 320 Cr in FY21 to 465 Cr this year. Upcoming capacity expansion for the company.

End of thread. See you tomorrow. Happy Investing 😊