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Tuesday, May 17, 2022

From HCL Technologies to Rainbow Children’s Medicare: Here are top stocks to watch on May 10

Stocks to watch: From Borosil Renewables to Infibeam Avenues, here are the key stocks to look out for on Tuesday's trade.

By: Express Web Desk | New Delhi |
Updated: May 10, 2022 9:39:34 am
stocks to watchRepresentative image: Pixabay

Benchmark indices continued to remain under pressure on Monday, with the Sensex tumbling nearly 365 points following a sell-off in global markets and decline in shares of index major Reliance Industries. Unabated foreign fund outflows and rupee hitting an all-time low also weighed on sentiment.

The 30-share BSE Sensex settled 364.91 points or 0.67 per cent lower at 54,470.67. The NSE Nifty fell 109.40 points or 0.67 per cent to end at 16,301.85.

Going ahead, here are the top stocks to watch on Tuesday, May 10, 2022:

Rainbow Children’s Medicare

Shares of Rainbow Children’s Medicare will be listed on the stock exchanges (NSE and BSE) today. The IPO was subscribed 12.43 times during its subscription period from April 27-29, 2022.

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Prudent Corporate Advisory Services

The IPO of Prudent Corporate Advisory Services kicks off today. The IPO comes with a price band of Rs 595-630 per share will be open for public subscription from May 10-12, 2022. At the upper end of the price band, the company will raise around Rs 538.61 crore through the offer.

Borosil Renewables

Solar panel glass manufacturer Borosil Renewables on Monday said it will invest Rs 1,500 over the next two years to expand its capacity by nearly 2.5 times and supply 15 GW of solar modules by FY25.

Godrej Agrovet

Godrej Agrovet on Monday reported a rise of 120.59 per cent in its consolidated profit at Rs 139.81 crore during the quarter ended March 2022 compared to the same period of the preceding financial year. The company’s profit stood at Rs 63.38 crore during the corresponding period of the previous fiscal, Godrej Agrovet said in a statement.

Revenue from operations of the company went up by 42.62 per cent during the quarter under review at Rs 2,075.62 crore compared to Rs 1,455.25 crore in the same period of the previous fiscal.

For the full year, the company posted a 20.59 per cent growth in profit at Rs 419.15 crore compared to Rs 347.57 crore in FY21. Revenue from operations of the company in 2021-22 witnessed a growth of 32.90 per cent at Rs 8,292.93 crore compared to Rs 6,239.60 crore in FY21.

Infibeam Avenues

Infibeam Avenues on Monday reported an 11 per cent drop year-on-year in its consolidated net profit to Rs 28 crore for the fourth quarter ended March 2022. However, the company’s gross revenue rose 84 per cent year-on-year to Rs 369 crore in the just-ended quarter.

On a sequential basis, the consolidated net profit was 17 per cent higher over the December 2021 quarter.

HCL Technologies

HCL Technologies on Monday said it will acquire Bengaluru-based Quest Informatics through its wholly-owned subsidiary, in an all-cash deal. In a BSE filing about the deal, the company pegged the purchase consideration at Rs 15 crore.

According to HCL Tech statement, Quest currently serves more than 40 global leaders in the ‘after-market’ space with its cloud-enabled after-market ERP, field services management, and digital parts catalog product suites. After-market digital spending is one of the fast-growing segments in the transportation and manufacturing industries.

The deal is expected to be completed before July 31, 2022.

-with PTI inputs

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