Stocks to watch: Tech Mahindra, Castrol India, Tata Steel, SBI Cards, Vakrangee

Here is the list of top stocks that could be in focus on April 27.

Tech Mahindra: Tech Mahindra through its wholly-owned subsidiary — Tech Mahindra (Americas) Inc. has approved the proposal to acquire 100% equity shares in Eventus Solutions Group, LLC,(Eventus). The acquisition will bolster consulting capabilities in Customer experience (CX) and customer management space and will enable Tech Mahindra to build an industry-leading consulting practice. The transaction is expected to close by June 15, 2021.

Power Mech Projects: The company has received Letter of Intent (LoI) from Singareni Collieries Company for award of contract for Operations and Maintenance of 2×660 MW STPP. The contract value is Rs 343.44 crore.

Shilpa Medicare: Shilpa Medicare’s US operating company — Shilpa Pharma, Inc. has filed patent infringement lawsuit against Novartis Pharmaceutical Corporation in the United States District court for the district of Delaware seeking relief for the infringement of the US Patent entitled ‘Fingolimod Polymorph and Their Processes’.

Castrol India: The company has reported results for first quarter ended March 31, 2021. The company has reported 94.57% rise in its net profit of Rs 243.60 crore for the quarter under review as against net profit of Rs 125.20 crore for the same quarter in the previous year. Total income of the company increased by 62.90% at Rs 1,153 crore for quarter ended March 31, 2021 as compared Rs 707.80 crore for the corresponding quarter previous year.

Tata Steel: Tata Steel has increased its daily oxygen supply limit to 600 tonne a day to health centres for the treatment of COVID-19 patients. Earlier, the company was supplying 300 tonne of Liquid medical oxygen (LMO) daily to various states.

SBI Cards: SBI Cards And Payment Services has reported results for fourth quarter and year ended March 31, 2021. The company has reported 2-fold jump in its net profit at Rs 175.42 crore for the quarter under review as compared to Rs 83.55 crore for the same quarter in the previous year. However, total income of the company decreased by 1.68% at Rs 2,468.14 crore for Q4FY21 as compared Rs 2,510.40 crore for the corresponding quarter previous year. For the year ended March 31, 2021, the company has reported a fall of 20.91% in its net profit at Rs 984.52 crore as compared to Rs 1,244.82 crore for the previous year. Total income of the company marginally decreased by 0.40% at Rs 9,713.58 crore for year under review as compared to Rs 9,752.29 crore for year ended March 31, 2020.

Vakrangee: Markets regulator — Sebi has imposed a total fine of Rs 1.75 crore on several entities for indulging in fraudulent trading in the scrip of Vakrangee. The entities have violated Prohibition of Fraudulent and Unfair Trade Practices norms.