Key Stocks to Watch for April 21: Vedanta, JSW Steel, PNB Housing Finance, TVS Motor, and More
JSW Steel and POSCO Form Odisha JV
JSW Steel has entered into a joint venture agreement with South Korea’s POSCO Group to establish a 50:50 joint venture. This significant step aims to develop a 6 million tonnes per annum (MTPA) integrated steel plant in Odisha, marking a major move in India's steel sector. The partnership is expected to enhance production capabilities and strengthen the company's market position.
Vedanta Sets Demerger Record Date
Vedanta Ltd has set May 1, 2026, as the record date for its ongoing demerger. The board has approved the scheme, which will take effect from the same date. Under the composite scheme of arrangement, existing Vedanta shareholders will receive equity shares in Vedanta Aluminium Metal Ltd (VAML), Talwandi Sabo Power Ltd (TSPL), Malco Energy Ltd (MEL), and Vedanta Iron and Steel Ltd (VISL) in proportion to their current holdings. This strategic move is designed to streamline operations and unlock value for shareholders.
PNB Housing Finance Reports Strong Q4 Results
PNB Housing Finance has reported a robust 14.39% year-on-year rise in net profit to ₹648.7 crore for the fourth quarter, compared with ₹567 crore in the same period last year. Net interest income (NII) grew 8.2% to ₹796 crore from ₹736 crore. The board has recommended a final dividend of ₹8 per share, reflecting the company's strong financial performance and commitment to shareholder returns.
TVS Motor Partners with Hyundai for Electric Micromobility
TVS Motor has signed a joint development agreement with Hyundai Motor Company to develop, manufacture, and commercialize electric micromobility three-wheelers for India and global markets. This partnership follows the unveiling of an electric three-wheeler concept at the Bharat Mobility Global Expo 2025. Hyundai will lead product design, while both companies will handle development with defined responsibilities across different phases.
Hindustan Copper Unveils Vision 2030
Hindustan Copper Ltd has announced a ₹7,188.60 crore mine expansion plan and unveiled its Vision 2030 roadmap at its annual meeting. The company plans phased capital expenditure through 2030, aiming to nearly triple ore production capacity from 4.21 MTPA in FY26 to 12.20 MTPA by FY30. The milling capacity is also set to rise to 12.20 MTPA, positioning the company for significant growth in the coming years.
NELCO Reports Positive Q4 Results
NELCO Ltd has reported a net profit of ₹1.1 crore for the fourth quarter, compared to a net loss of ₹4.1 crore a year ago. Revenue rose 17.3% year-on-year to ₹79.2 crore. The board has recommended a final dividend of ₹1 per share (10%) for FY26, subject to shareholder approval at the upcoming AGM. This turnaround reflects the company's improved operational efficiency and financial health.
SML Mahindra Sees Marginal Profit Growth
SML Mahindra Ltd has reported a marginal 2.36% year-on-year rise in net profit to ₹54.2 crore for Q4, compared with ₹53 crore in the same period last year. Revenue grew strongly by 16.4% to ₹898 crore from ₹771 crore, while EBITDA remained flat at ₹90.4 crore. Operating margins, however, declined to 10.1% from 11.7% a year ago. The board has recommended a final dividend of ₹23.5 per share for FY26, indicating a steady performance despite margin pressures.
Oberoi Realty Reports Strong Q4 Bookings
Mumbai-based real estate firm Oberoi Realty Ltd reported a gross booking value of ₹1,673 crore for Q4 FY26, nearly doubling both sequentially and year-on-year from ₹836 crore in Q3 and ₹853 crore in the year-ago period. This significant increase highlights the company's strong sales momentum and market demand for its projects.
Eris Lifesciences Addresses Regulatory Issues
Eris Lifesciences Ltd has been flagged by Croatia’s regulator HALMED for some procedural issues at its subsidiary Swiss Parenterals Ltd’s Ahmedabad units after an inspection in March. The company stated that it will address these issues and respond within the timelines, noting that the impact on current business is minimal, though some delays in its Europe-focused product pipeline are expected.
Muthoot Microfin Reports AUM Growth
Muthoot Microfin reported a 13% year-on-year growth in assets under management (AUM) to ₹14,006 crore in Q4, compared with ₹12,357 crore a year ago. For FY26, disbursements rose 6% to ₹9,418 crore from ₹8,872 crore, while collection efficiency improved to 96.43% from 93.07% in the previous year. These positive metrics underscore the company's robust financial performance and market leadership in the microfinance sector.
