Stocks in the news: Tech Mahindra, Cipla, Alkali Metals, JB Chemicals, Edelweiss Financial

 Alkali Metals | Subros | Cipla | Edelweiss Financial Services | Jamna Auto and Bajaj Electricals are stocks, which are in news today.

Here are the stocks that are in news today:

Results today: Cipla, Bank Of Baroda, IndusInd Bank, Sintex Industries, Canara Bank, Central Bank Of India, ADF Foods, Allcargo Logistics, Ashoka Buildcon, Bajaj Electricals, Bajaj Hindusthan Sugar, Balaji Telefilms, Cummins India, GeeCee Ventures, GE T&D India, GSFC, Heritage Foods, ITD Cementation, Jindal Saw, JK Lakshmi Cement, MOIL, MRO-TEK Realty, Quess Corp, The Ramco Cements, Rane Brake Lining, Redington, Sicagen India, Skipper, Symphony, Thermax

Tech Mahindra Q4: Net profit down 6.6% at Rs 1,132.5 crore against Rs 1,206.8 crore, revenue down at Rs 8,892.3 crore versus Rs 8,943.7 crore, QoQ

DLF Q4: Net profit up 78.7% at Rs 434.8 crore versus Rs 243.3 crore, revenue up 81.5% at Rs 2,500.4 crore versus Rs 1,377.7 crore, YoY

India Glycols Q4: Net profit down 32.9% at Rs 27.4 crore versus Rs 40.8 crore, revenue up 18.1% at Rs 875.6 crore versus Rs 741.1 crore, YoY

Eris Lifesciences Q4: Net profit down 8.9% at Rs 52.4 crore versus Rs 57.5 crore, revenue up 2.3% at Rs 198.4 crore versus Rs 194 crore, YoY

Tamilnadu Petro Q4: Net profit up 14.5% at Rs 11.4 crore versus Rs 10 crore, revenue up 28.4% at Rs 332.8 crore versus Rs 259.2 crore, YoY

Triveni Engg Q4: Net profit at Rs 92.5 crore versus loss of Rs 109.5 crore, revenue up 16.3% at Rs 854.3 crore against Rs 734.3 crore, YoY

Prataap Snacks Q4: Consolidated net profit up 35.9% at Rs 14 crore versus Rs 10 crore, revenue up 14.9% at Rs 1,170.5 crore versus Rs 1,018.4 crore, YoY

Subros Q4: Net profit up 25.7% at Rs 76 crore, revenue up 7.9% at Rs 2,124.4 crore

JSPL Q4: Net loss at Rs 2,713 crore versus loss of Rs 426 crore, revenue up 18% at Rs 10,159 crore versus Rs 8,599 crore, YoY

Jamna Auto Q4: Net profit down 28.5% at Rs 33.4 crore, revenue down 8.9% at Rs 542.8 crore

JB Chemicals Q4: Net profit up 91.4% at Rs 42 crore versus Rs 22 crore, revenue up 19% at Rs 379 crore versus Rs 318.4 crore, YoY

Crompton Greaves Consumer Q4: Net profit up 37.3% at Rs 141.7 crore versus Rs 103.2 crore, revenue up 7.2% at Rs 1,206.9 crore versus Rs 1,126.3 crore, YoY

Vaibhav Global Q4: Consolidated net profit up 1.6% at Rs 32.4 crore versus Rs 31.9 crore, revenue up 8.9% at Rs 461.5 crore versus Rs 423.9 crore, YoY

Surya Roshini Q4: Net profit up 18.9% at Rs 44 crore versus Rs 37 crore, revenue up 19.7% at Rs 1,706.5 crore versus Rs 1,425.8 crore, YoY

Somany Ceramics Q4: Net profit down 15.7% at Rs 19.8 crore versus Rs 23.5 crore, revenue down 2.2% at Rs 515 crore versus Rs 526.7 crore, YoY

Mukta Arts Q4: Consolidated net profit at Rs 0.8 crore versus loss Of Rs 6.3 crore, revenue up 53% at Rs 43.8 crore versus Rs 28.6 crore, YoY

Aarti Industries Q4: Net profit up 46.9% at Rs 124 crore versus Rs 84.7 crore, revenue up 17.7% at Rs 1,211.4 crore versus Rs 1,029.3 crore, YoY

KEI Industries Q4: Net profit up 21% at Rs 60 crore versus Rs 49.5 crore, revenue up 22.2% at Rs 1,258.7 crore versus Rs 1,030.4 crore, YoY

Sintex Plastic approved to explore the sale of Auto Division of Sintex-BAPL, the wholly owned material subsidiary of the company

Arthur J. Gallagher & Co. to acquire minority stake in Edelweiss Insurance Brokers, a wholly owned subsidiary of Edelweiss Financial Services

Infosys Finacle and Global Treasure Bank announced the successful implementation of the Finacle Core Banking solution at the Bank

ICRA downgrades IDFC First Bank long-term rating to ‘AA’

Endurance Technologies- CRISIL reaffirmed AA/Positive to the long-term bank credit facilities and A1+ to the short term credit facilities/CPs

Bharti and Vodafone Group Plc. announces proposed CEO and CFO for merged entity

Cyient and OneStrand Inc. announce partnership to offer interactive technical publication solutions

Acuite Ratings & Research reaffirmed A1+ rating to the commercial papers of the Future Enterprises and AA/Stable to the NCDs

Alkali Metals received an Establishment Inspection Report (EIR) from United States Food and Drug Administration (US FDA) for its Visakhapatnam Unit in Andhra Pradesh.

India Glycols approved fund raising, subject to the approval of the members, for an amount not exceeding Rs 250 crore

Triveni Enginerring board meeting on June 3, 2019, to consider, a proposal for buy back of the equity shares of the company

Asian Granito  passed circular resolution for divestment in JV AGL Panaria

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Stocks in the news: Tata Motors, DLF, Tech Mahindra, Adani Green, HPCL, Panacea Biotec, GAIL

Here are the stocks that are in news today:

Results Today: DLF, Tech Mahindra, IFCI, JSPL, Bharat Financial Inclusion, Bodal Chemicals, Bosch, Cochin Shipyard, Crompton Greaves Consumer Electricals, Dhanuka Agritech, JBChemicals, KEI Industries, Mukta Arts, Prakash Industries, RSWM, Somany Ceramics, Spice Mobility, Sunflag Iron, Timken India, Triveni Engineering, VA Tech Wabag

Adani Green: Promoters to sell up to 5.59% stake via OFS at floor price at Rs 43 per share

Indostar Capital board approved raising up to Rs 10,000 crore via NCDs

Panacea Biotec received Azacitidine USFDA approval for the US market

ICICI Bank to buy 9.9% stake in India International Clearing Corp

Indostar Capital board approved raising up to Rs 10,000 crore via NCDs

GAIL board meeting n May 27 to consider issue of bonus shares and Q4 results

Dhampur Sugar Mills recommended final dividend of RS 3 per equity share

BPCL Q4: Net profit was at Rs 3,124.9 crore and revenue down 6.6 percent at Rs 73,990.4 crore, QoQ

Tata Motors Q4: Consolidated net profit falls 49% at Rs 1,108 crore agaisnt Rs 2,175 crore. Revenue declined to Rs 86,422 crore against Rs 89,928.97.

Monte Carlo Fashions Q4: Loss at Rs 18.8 crore versus loss of Rs 8.7 crore, revenue up 14.6% at Rs 96 crore versus Rs 84 crore, YoY

Astral Poly Technik Q4: Net profit down 4.3% at Rs 62.5 crore versus Rs 65.3 crore, revenue up 21.3% at Rs 774.7 crore versus Rs 638.8 crore, YoY

Nila Infrastructures Q4: Net profit up 25.4% at Rs 7.4 crore versus Rs 5.9 crore, revenue up 53.8% at Rs 73.9 crore versus Rs 48 crore, YoY

Dhampur Sugar Q4: Net Profit at Rs 108.8 crore versus loss of Rs 8.9 crore, revenue down 3.6% at Rs 888.4 crore versus Rs 921.1 crore, YoY

Jindal Stainless Q4: Net profit down 71.8% at Rs 32 crore versus Rs 115 crore, revenue up 2.5% at Rs 3,251.5 crore versus Rs 3,172.7 crore, YoY

United Breweries Q4: Net profit down 25.3% at Rs 67.9 crore versus Rs 91 crore, revenue up 10.7% at Rs 1,629.4 crore versus Rs 1,471.8 crore, YoY

HPCL Q4: Net profit at Rs 2,969.9 crore versus Rs 247.5 crore, revenue down 5.8% at Rs 67,938.1 crore versus Rs 72,112 crore, QoQ

Manali Petrochemical Q4: Net profit down 21.4% at Rs 21 crore versus Rs 27 crore, revenue down 13.7% at Rs 163.8 crore versus Rs 189.9 crore, YoY

Torrent Pharma Q4: Consolidated net loss of Rs 152 crore versus profit of Rs 228 crore, revenue up 8.7% at Rs 1,856 crore versus Rs 1,708 crore, YoY

Lakshmi Machine Q4: Net profit down 39.9% at Rs 37 crore versus Rs 61.2 crore, revenue down 22% at Rs 580 crore versus Rs 747.3 crore, YoY

NDTV Q4: Consolidated net profit at Rs 13 crore against loss of Rs 18 crore, revenue down 3.4% at Rs 102 crore versus Rs 105.6 crore, YoY

VIP Clothing Q4: Loss at Rs 1.7 crore versus loss of Rs 2.5 crore, revenue at Rs 39.2 crore versus Rs 55.1 crore, YoY

Triveni Turbine Q4: Net profit down 40.6% at Rs 23 crore versus Rs 39.3 crore, revenue down 1.2% at Rs 237 crore versus Rs 239.8 crore, YoY

HEG Q4: Net profit down 17.3% at Rs 524 crore versus Rs 634 crore, revenue up 4.2% at Rs 1,346.6 crore versus Rs 1,292.4 crore, YoY

Dalmia Bharat Sugar Q4: Net profit at Rs 46.2 crore versus loss of Rs 12.5 crore, revenue up 18.2% at Rs 568.9 crore versus Rs 481.1 crore, YoY

HPL Electric & Power Q4: Net profit up 75% at Rs 12.6 crore versus Rs 7.2 crore, revenue up 12% at Rs 352.5 crore versus Rs 314.6 crore, YoY

Triveni Turbine Q4: Net profit down 40.7% at Rs 23.3 crore versus Rs 39.3 crore, revenue down 1.2% at Rs 237.1 crore versus Rs 239.9 crore, YoY

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Tech Mahindra to buyback 2.05 crore shares for Rs 1,956 crore

The board of Tech Mahindra has approved a buyback of up to 2.05 crore shares worth Rs 1,956 crore at Rs 950 per share. The record date for the same is March 6, the company said in a release to exchanges.

Speaking on its first buyback, Manoj Bhat, CFO of Tech Mahindra, told CNBC-TV18 that the company will adopt a dividend plus buyback strategy. " "We will conduct buybacks on an annual basis as done by our peers in the industry. It is tax efficient and we do not want excess cash with the company," he said, adding that the IT major will still hold on to some cash for future acquisitions, as "this is a core feature of our growth strategy."

Bhat did not clarify whether promoters will participate in this process.

Also see: Why IT companies are taking share buyback route even as earnings are strong

A share buyback is a corporate action in which a company takes back shares from its shareholders at a price higher than the market price. In doing so, the number of outstanding shares in the market reduces. This allows companies to invest in themselves.

Cash-rich IT firms have been giving up excess cash to shareholders through dividend and share issues. Last month, Infosys announced a Rs 8,260 crore buyback and Persistent Systems’ board consented to a Rs 225 crore buyback plan.

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Source: Moneycontrol