Market this week 22-4-2022

Market this week 22-4-2022
  • PSP Projects has made a profit after receiving orders worth Rs 940 crore.
  • Although the RERA Act has improved India’s real estate business, issues still exist.
  • On a promoter proposal to sell a stake in INEOS Styrolution, the stock drops 14% to a 52-week low.
  • The share price of Tata Steel has increased by 2% as a result of a proposal to divide equity shares.
  • As the board considers a bonus issue, the Australian Small Finance Bank reaches a 52-week high.

PSP Projects has made a profit after receiving orders worth Rs 940 crore.

On April 20, PSP Projects’ stock rose 4% intraday after the construction company received orders.

PSP Projects received orders worth Rs 938.76 crore (excluding GST), including Rs 511.39 crore (including Rs 503.56 crore for the construction of a sports complex in Ahmedabad) and Rs 327.39 crore in FY22 and FY23, respectively, as well as additional scope in existing contracts worth Rs 99.98 crore in FY22.

The entire work orders received as of the conclusion of the financial year 2021-22 equal to Rs 1,802.23 crore. Government, residential, and institutional orders account for the majority of the orders.

Although the RERA Act has improved India’s real estate business, issues still exist.

Delays in residential real estate developments have long been one of the industry’s biggest problems. Such delays erode client confidence and result in financial losses for customers and investors, as well as affecting the industry’s perception among numerous stakeholders.

Delays can occur for a variety of reasons, including a lack of timely approvals, an inability to mobilise essential money (debt or equity), a poor sales response leading to insufficient customer advances, or, in rare situations, mismanagement and fund diversion

While such issues continue to affect the sector, particularly in the wake of the COVID-19 pandemic, which has disrupted construction activities to some extent in FY2021, the execution track record has improved significantly since the implementation of the Real Estate Regulation and Development Act (RERA) in 2016. The subsequent reduction in supply from smaller and less well-known developers has also helped to shorten execution cycles.

On a promoter proposal to sell a stake in INEOS Styrolution, the stock drops 14% to a 52-week low.

In the morning session on April 19, the share price of INEOS Styrolution India was down more than 14% after promoter INEOS Styrolution APAC Pte Ltd planned to sell a 14.4 percent stake through an offer for sale (OFS).

It has also maintained the option of selling a 9.6 percent stake through OFS open. This year’s OFS will take place on April 19 and 20.

On the National Stock Exchange, the stock was trading at Rs 930.20, down Rs 147.80, or 13.71 percent. It fell to Rs 907, a 52-week low. It was trading with 26,576 shares, up from 2,645 in the previous five days, a 904.84 percent rise.

The share price of Tata Steel has increased by 2% as a result of a proposal to divide equity shares.

Tata Steel’s stock gained 2% intraday on April 18 as the business announced plans to divide its equity shares.

On May 3, the Tata Steel board of directors will discuss the share sub-division and record the audited standalone and unaudited consolidated financial statements and results for the quarter ended March 31, 2022.

On that day, the Board will also recommend a dividend, if any, for the fiscal year ending March 31, 2022.
The firm intends to subdivide its equity shares with a face value of Rs 10 each in the manner specified by the board of directors, subject to any regulatory/statutory clearances that may be required as well as shareholder consent.

As the board considers a bonus issue, the Australian Small Finance Bank reaches a 52-week high.

The share price of AU Small Finance Bank hit a 52-week high of Rs 1,442.70 on April 18, up more than 4% intraday as the firm considers a bonus issuance.

On April 25 and 26, the board of directors of the AU Small Finance Bank will convene in Jaipur for a two-day meeting to make a final decision on the matter.

The bank’s audited financial statements for the quarter and fiscal year ended March 31, 2022 will also be considered by the board. The proposal for the issuing of bonus shares, subject to the necessary approvals, will be on the agenda, together with dividend recommendations for the fiscal year ending March 2022.

FREE Multibagger India 2023

multibagger stock free india stock market

Subscribe

* indicates required

Multibagger with Expansion Plans | Low PE Ratio | Low Book Value Ratio | Intrinsic Value Discount 70 % | PLUS Free Value Investing Education

Past Multibaggers Bajaj Finance gained 5000% in 10 Years

Discussion on India Stock Market