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From Future group stocks to HCL Technologies: Here are top stocks to watch on April 22

Stocks to watch: From Paytm to Tata Communications, here are the key stocks to look out for on Friday's trade.

stocks to watch todayRepresentative image: Pixabay

The benchmark equity indices on the BSE and National Stock Exchange (NSE) continued their winning momentum for the second straight day and ended around 1.5 per cent higher on Thursday. The S&P BSE Sensex surged 874.18 points (1.53 per cent) to end at 57,911.68 while the Nifty 50 settled at 17,392.60, up 256.05 points (1.49 per cent).

Here are the key stocks to watch on Friday, April 22, 2022:

Future group stocks

Listed entities of the Future group firm, including flagship Future Retail, have completed meetings of their respective shareholders and creditors to consider and approve the Rs 24,713 crore deal to sell their assets to billionaire Mukesh Ambani’s Reliance Retail Ventures Ltd despite objections from Amazon.

The entities include Future Retail, Future Enterprises, Future Supply Chain Solutions, Future Lifestyle Fashions, Future Market Networks and Future Consumer.

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The meetings were chaired by respective persons appointed by the National Company Law Tribunal (NCLT) to conduct the meeting as per its order passed on February 28, said the listed entities in separate regulatory filings.

The meetings were held through video conferencing and the requisite quorum was present, the filings added. The meetings of shareholders of the listed entities were held on Wednesday.

One97 Communications (Paytm)

Paytm owner One97 Communications on Thursday posted a shareholding update which showed that retail shareholders have more than doubled their stake in the company. Canada Pension Plan Investment Board (CPPIB) has also increased its stake in Paytm from 1.57 to 1.71 per cent in the quarter ended March 2022, according to the regulatory filing.

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Foreign Portfolio Investors’ shareholding more than halved in the company to 4.42 per cent in March 2022 quarter compared to 9.36 per cent stake held by them in December 2021 quarter. The updated shareholding pattern shows retail investors shares in the company increased to 5,00,42,638 in March 2022 quarter, representing 7.72 per cent stake from 2,26,52,322 shares (3.49 per cent) in December 2021 quarter.

Tata Communications

Tata Communications on Thursday posted a 22 per cent growth in consolidated profit at Rs 365 crore for the quarter ended March 2022. The company had registered a profit of Rs 299.2 crore in the same period a year ago.

HCL Technologies

IT services company HCL Technologies on Thursday reported over a three-fold jump in its consolidated net profit for the fourth quarter ended March 2022 at Rs 3,593 crore as it struck an optimistic note about the “buoyant” market environment and “strong momentum across verticals and service lines” to guide for 12-14 per cent revenue growth for FY23.

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The net profit revved up from Rs 1,102 crore in the corresponding period of the previous year (Q4 FY21).

The company, however, pointed out that there had been an impact of one-time payout in March 2021 quarter, which had depressed the bottomline numbers for that period. HCL Tech explained that seen on a comparative basis, the Q4 FY22 net profit is up about 24 per cent year-on-year.

-with PTI input

First published on: 22-04-2022 at 09:28:57 am
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