Stocks to watch: Wipro, Aditya Birla Capital, Yuken India, Kamdhenu, Quess Corp, Aarti Drugs

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Here is the list of top stocks that could be in focus on April 16.

Yuken India: Yuken India has received approval for the draft Scheme of Amalgamation (Scheme) of Yuflow Engineering (Wholly owned Subsidiary) with Yuken India and their respective shareholders and creditors, subject to sanction of the Scheme by the jurisdictional National Company Law Tribunal under the provisions of Section 230 to 232 of the Companies Act, 2013. The board of Directors at their meeting held on April 15, 2021 has approved the same.

Integrated Capital Services: The company has received approval from its board for the grant of loan upto Rs 50 lakh to RAAS Consulting, a Wholly Owned Subsidiary (WOS) of the company. The approval is to enable the WOS to part repay its loan liability, this loan to be advanced to RAAS Consulting will result reduction of its outside indebtedness and reduce the aggregate indebtedness of the company on consolidated basis. The loan shall be unsecured and shall carry interest.

Amarjothi Spinning Mills: The company has received approval for the purchase of land admeasuring 3 acres and 88.50 Cents from Jaichander Wind Farms for an overall consideration of Rs 15.62 lakh. The board of Directors at their meeting held on April 15, 2021 has approved the same.

Kamdhenu: The company has signed ace Bollywood celebrity and entrepreneur, Preity G Zinta as its brand ambassador for their decorative paints business under the brand name ‘Kamdhenu Paints’. This collaboration will help enhance the brand’s pan-India reach and recall, helping catapult the brand as the preferred consumer choice.

Ashoka Buildcon: Ashoka Buildcon has received a Letter of Award (LoA) from Gujarat Rail Infrastructure Development Corporation (G-RIDE) for the Project viz ‘Gauge Conversion of Bechraji (63.83 KM) – Ranuj (101.983 KM) Section, Total Length of 38.153 KM Metre Gauge to Broad Gauge with 25 KV AC Electrification in Ahmedabad Division of Western Railway’. The accepted project cost is approximately Rs 334 crore.

Wipro: The IT firm has reported results for fourth quarter ended March 31, 2021. The company has reported a rise of 39.60% in its net profit at Rs 3013.00 crore for the quarter under review as compared to Rs 2158.30 crore for the same quarter in the previous year. Total income of the company increased by 0.75% at Rs 13793.20 crore for Q4FY21 as compared Rs 13690.90 crore for the corresponding quarter previous year. On the consolidated basis, the company has reported a rise of 27.78% in its net profit attributed to equity holders at Rs 2972.30 crore for the quarter under review as compared to Rs 2326.10 crore for the same quarter in the previous year. Total income of the company increased by 2.68% at Rs 16778.70 crore for Q4FY21 as compared Rs 16340.50 crore for the corresponding quarter previous year.

Aditya Birla Capital: The company has received approval for the initial public offering by way of an offer for sale (IPO) of Aditya Birla Sun Life AMC (ABSLAMC), a material subsidiary of the Company, and has also approved sale of up to 28,50,880 equity shares of face value of Rs 5 each held by the Company in ABSLAMC out of the paid-up share capital of 28,80,00,000 equity shares of face value of Rs 5 each of ABSLAMC in the IPO.

Ashoka Buildcon: The company said that the company has received a Letter of Award (LOA) from Gujarat Rail Infrastructure Development Corporation (G-RIDE) for the Project viz. ‘Gauge Conversion of Bechraji (63.83 KM) – Ranuj (101.983 KM) Section, Total Length of 38.153 KM Metre Gauge to Broad Gauge with 25 KV AC Electrification in Ahmedabad. The accepted project cost is Rs 333.625 crore.

Aarti Drugs: The company informed that ICRA has reaffirmed credit rating on commercial paper and term loan and assigned credit rating on Long term- Fund based term loan, Long term- Fund based CC and Short term- Fund based/Non-fund based facilities of the company.

National Fertilizers: National Fertilizers said that Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, Government of India has intimated regarding issue of RFP for engagement of Legal Advisors, Merchant Bankers and Selling Brokers for the Disinvestment of 20% paid up equity capital in the company out of Government of India’s shareholding through the Offer for Sale by promoters through the Stock Exchanges method in the domestic market.

Quess Corp: Quess Corp announced the acquisition of 30% stake in Conneqt Business Solutions Ltd. (Conneqt) pursuant to the Put Option notice by Tata Sons Pvt. Ltd. (Tata). With this transaction, Conneqt will become a wholly owned subsidiary of Quess.