Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, and order wins, here’s a quick look at which stocks will be in focus in today's trade:
CESC, PCBL, Just Dial, Valecha Engineering, Vivimed Labs, Brightcom Group, GNA Axles, Hathway Bhawani Cabletel, Shah Metacorp, and Yaari Digital will release their quarterly earnings on January 10.
Avenue Supermarts, Concord Drugs, Kandagiri Spinning Mills, and Rita Finance and Leasing will announce their quarterly earnings scorecard on January 11.
Tata Consultancy Services Q3 (Consolidated QoQ)
TCS profit grows 4% to Rs 12,380 crore Vs Rs 11,909 crore
Revenue declines 0.4% to Rs 63,973 crore Vs Rs 64,259 crore
Dollar revenue falls 1.7% to $7,539 million Vs $7,670 million
EBIT rises 1.2% to Rs 15,657 crore Vs Rs 15,465 crore
EBIT margin expands 40 bps to 24.47% Vs 24.07%
Other income jumps to Rs 1,243 crore Vs 729 crore
Attrition rate increases to 13% Vs 12.3%
TCS announces interim dividend of Rs 10 per share, special dividend of Rs 66 per share
Tata Elxsi Q3 (QoQ)
Profit declines 13.3% to Rs 199 crore Vs Rs 229.4 crore
Revenue falls 1.7% to Rs 939.2 crore Vs Rs 955.1 crore
EBIT slips 7.8% to Rs 220.6 crore Vs Rs 239.3 crore
Margin drops 55 bps to 24.5% Vs 25.05%
Indian Renewable Energy Development Agency Q3 (YoY)
Profit jumps 26.8% to Rs 425.4 crore Vs Rs 335.5 crore
Net interest income grows 38.9% to Rs 622.3 crore Vs Rs 448.1 crore
GTPL Hathway Q3 (Consolidated YoY)
Profit sinks 57% to Rs 10.2 crore Vs Rs 23.7 crore
Revenue increases 4.3% to Rs 887.3 crore Vs Rs 850.9 crore
Stocks To Watch
The nodal agency, GAIL (India), has informed the company that the allocation of APM-priced domestic gas has been revised upwards by 20%, effective January 16. This upward revision will have a positive impact on the company and will help stabilize retail prices for end consumers.
GAIL (India), the nodal agency for domestic gas allocation, has informed Mahanagar Gas that the domestic gas allocation at APM prices has been increased by 26%, effective January 16. This increase will raise the allocation for CNG from 37% to 51%. This boost in gas allocation will positively impact the company's profitability.
Adani Commodities LLP, one of the promoters, is set to sell up to 20% of its equity stake in Adani Wilmar via an offer-for-sale (OFS) on January 10 and January 13. The OFS will include a base issue size of 13.50% equity and a green-shoe option of 6.50% equity. The floor price for the issue has been fixed at Rs 275 per share. The OFS will open for non-retail investors on January 10, and for retail investors on January 13.
The Board has approved the setting up of a BOPET manufacturing film plant in India with an investment of Rs 558 crore. The proposed capacity addition is 52,400 MTPA for BOPET film, while the existing capacity is 90,000 MTPA (for both BOPET and BOPP films).
The company has received an order worth Rs 81.47 crore from Bharat Petroleum Corporation (BPCL) for a CGD (city gas distribution) project on a pan-India basis.
The company issued a clarification regarding a media report that SRF and Navin Fluorine shares surged by 13% each on Thursday. SRF clarified that the reported price hike by a US refrigerant gas distributor pertains to the US market. "Changes in prices of refrigerant gases for SRF will remain a function of demand and supply in our relevant market segment."
The bank has increased interest rates for savings account customers, effective January 10. Balances up to Rs 1 lakh will continue to earn an interest rate of 3%, while balances between Rs 1 lakh and Rs 10 lakh will earn 5%. Balances above Rs 10 lakh and up to Rs 25 lakh will earn 7%. Another new slab for balances ranging from Rs 25 lakh to Rs 1 crore offers an interest rate of 7.25%, and balances from Rs 1 crore to Rs 25 crore will earn 7.50%. For balances above Rs 25 crore, the existing rate of 7.80% remains unchanged.
Samvardhana Motherson International
The development of the Gen 3 prototype, as per the agreed specifications and associated conditions, is still a work in progress and is expected to take some more time. The development requires additional funding to complete the related work and processes. To ensure continuity of the development work and full ownership of the resultant assets and patented technology by MSSL Consolidated Inc., the public auction for Prysm’s assets has been initiated. Until the completion of this process, MSSL Consolidated Inc. has agreed to provide drip financing of up to $3.8 million to ensure the continuation of operations.
The company has delivered the sixth Scorpene-class submarine, Vaghsheer, of Project P-75 to the Indian Navy. Vaghsheer can undertake various missions, including anti-surface warfare, anti-submarine warfare, intelligence gathering, and area surveillance.
The Board has approved the issue of up to 3.34 crore equity shares of the company at a price of Rs 114 per share, amounting to Rs 380.97 crore, on a preferential basis to investors via private placement. The Board has also approved the issue of up to 3.81 crore convertible equity warrants at a price of Rs 114 each, amounting to Rs 435.1 crore, to the promoter group and certain non-promoter persons or entities via preferential issue on a private placement basis.
Bombay Burmah Trading Corporation
The company has entered into a sale deed for a land parcel of 13.91 acres in Kanyakumari, Tamil Nadu, for Rs 13.05 crore. SAV Readymix Concrete, Muthukumar Enterprises, Sri Athisaya Vinayagar Blue Metals, and PMK Builders are the buyers of the land parcel.
The company's subsidiary, NTPC Renewable Energy, has commissioned the second part of its capacity of 60 MW out of the 320 MW Bhainsara Solar PV project, and 50 MW out of the 220 MW Shajapur Solar project (Unit-II). With this, the subsidiary has now commissioned a total capacity of 220 MW for Bhainsara Solar and 100 MW for Shajapur Solar.
The company has received final approval from the United States Food and Drug Administration (USFDA) to market Metoprolol Tartrate and Hydrochlorothiazide tablets USP, 50 mg/25 mg and 100 mg/25 mg, in the US. Metoprolol Tartrate and Hydrochlorothiazide tablets are indicated for the treatment of hypertension and to lower blood pressure.
SME Listing on January 10
Fabtech Technologies Cleanrooms
Stock Trades Ex-Date for Split
Shriram Finance
Stock Trades Ex-Dividend
VTM
F&O Ban
Bandhan Bank, Hindustan Copper, L&T Finance, Manappuram Finance, RBL Bank
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
