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Nestle India, SBI, Voltas: Top Stocks for Investors on April 22

The stock market on Thursday, April 22 opened on a negative note amid mixed global cues. The BSE Sensex was down 466.41 points or 0.98 percent at 47,239.39. While the Nifty50 was down 136.90 points or 0.96 percent at 14,159.50. Also, close to 430 shares have advanced, while 427 shares declined and 94 remain unchanged.

Top stock to look for the day:

Nestle India: The company has reported a 14.6 percent growth in Q1CY21 profit at Rs 602.2 crore against Rs 525.4 crore in the in the same period in Q1CY20. Its revenue rose to Rs 3,610.8 crore from Rs 3,325.8 crore YoY.

Voltas: Life Insurance Corporation of India (LIC) acquired 46,000 equity shares (0.02% of paid up equity) in Voltas on April 19. The Indian government owned insurance and investment corporation increased its stake in the company to 5.01 percent from 4.99 percent earlier.

State Bank of India: The bank has clarified that IRDAI has imposed a penalty of Rs 25 lakh on SBI General Insurance, its unlisted subsidiary for non-compliance with minimum obligations under Motor Third Party Business, for FY18.

Federal Bank: The bank said its board of directors approved the appointment of Damodaran C as Chief Risk Officer of the bank for a period of three years from May 1, 2021, to replace outgoing Wilson Cyriac.

TV18 Broadcast: The company reported 76.8 percent growth in consolidated profit at Rs 251 crore in Q4FY21 against Rs 142 crore in the corresponding period. However, its consolidated revenue fell 5.4 percent YoY to Rs 1,348 crore in Q4FY21. Also consolidated operating EBITDA increased 16% to Rs 279 crore in Q4FY21 YoY.

Orient Bell: Equity Intelligence India-owned by Porinju Veliyath reduced 3.90 percent stake at the end of March 2021, from 4.25 percent as of December 2020.

Salasar Techno Engineering: The company has bagged new orders worth Rs 27.45 crore and Rs 20.25 crore from Rajasthan Rajya Vidyut Prasaran Nigam.

Dilip Buildcon: The company notified that a meeting of the Qualified Institutions Placement Committee of the board of directors of the company will be held on or after April 26, 2021. The board will consider and approve the issue price and related topics as permitted under SEBI ICDR regulations.

Swaraj Engines: The company reported a sharp increase in its profit which stood at Rs 32.6 crore in Q4FY21 against Rs 15.8 crore in the same period. Its revenue jumped to Rs 304.9 crore from Rs 175.1 crore YoY.

Asahi Songwon Colors: The company said their Chief Financial Officer (CFO) Utsav Pandwar has resigned. Along with Pandwar few key managerial personnel too have put in their papers due to personal reasons.

Network18 Media & Investments: The company reported a sharply higher consolidated profit at Rs 205.8 crore in Q4FY21 against Rs 60.19 crore in the same period last year. Their revenue fell 3.4 percent to Rs 1,414.7 crore from Rs 1,464.51 crore YoY.

Pearl Global Industries: The company informed that Kashmir Singh Rathour has resigned as its Chief Financial Officer (CFO) with effect from Wednesday, April 20.

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Source: News18