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HomeBusinessStocks to watch: Infosys, Mindtree, Bajaj Auto, Shree Cement, Power Mech

Stocks to watch: Infosys, Mindtree, Bajaj Auto, Shree Cement, Power Mech


Stocks to watch: Strong global cues coupled with falling crude oil prices are likely to lend strength to the Indian equity on Friday. At 7:01 am, the SGX quoted 17,200 levels, indicating a gap-up open of 243 points.

Globally, the US underwent a whipsaw trade to close higher on Thursday as investors brushed aside higher-than-estimated headline inflation data of 8.2 per cent in September. All the three-major US indices closed over 2 per cent higher.

Tracking Wall Street’s rally, Asia-Pacific markets, too, cheered in Friday’s trade. Key indices like Nikkei 225, Topix, S&P 200, Kosdaq, Hang Seng, and Shanghai Composite gained up to 3 per cent.

Meanwhile, back home, here’s a list of stocks that may see action in Friday’s trade.

Q2 results: Bajaj Auto, Shree Cement, Tata Elxsi, Federal Bank, Oberoi Realty, Just Dial, GI Engineering Solutions, Infomedia Press, and Plastiblends India will share their September quarter results (Q2FY23) on Friday, October 14.

On the other hand, HDFC Bank, Avenue Supermarts, ICICI Prudential Life Insurance Company, Larsen & Toubro Infotech, Butterfly Gandhimathi Appliances, Alok Industries, and GTPL Hathway will be in focus ahead of their Q2FY23 numbers due on Saturday, October 15.

Infosys: The IT major posted better-than-estimated 11 per cent year-on-year (YoY) rise in consolidated net profit to Rs 6,021 crore in Q2FY23. The company’s revenue, too, climbed 23.4 per cent YoY to Rs 36,538 crore in Q2. That apart, they announced Rs 9,300 crore share buyback, for a price up to Rs 1,850 per share. They also declared an interim dividend of Rs 16.5 per share. READ MORE

Mindtree: The IT services player reported a 27.5 per cent YoY surge in net profit to Rs 508.7 crore for Q2FY23. Revenue, meanwhile, was up 31.5 per cent YoY to Rs 3,400 crore. Despite wage hike across the board, the company said that they maintained an EBITDA margin at a healthy 21 per cent. However, attrition continued to be high at 24.1 per cent in the recently concluded quarter. READ MORE

Power Mech Projects: The company entered into a joint venture with RITES as they bagged order worth Rs 499.41 crore from the Bangalore Metro Rail Corporation Ltd (BMRCL) to construct Depot cum workshop at Challaghatta in Reach-2 Extension of Bangalore Metro Rail Project, Phase-2. The project has been awarded to RITES- PMPL. READ MORE

Bandhan Bank: The private sector lender plans to diversify its asset base by raising exposure to secured loans to 70 per cent by 2025. That apart, the bank is also looking at geographical diversification and plans to increase the number of branches to 8,000 in 2025 from 5,640. READ MORE

Coal India: The company plans to set up a 1,190 megawatt (MW) solar power plant in Bikaner district of Rajasthan as it signed an MoU with the Rajasthan Vidyut Utpadan Nigam Ltd (RUVNL). Around 4,846 hectare of land is earmarked by the Rajasthan government to develop the park, of which the RUVNL would set up 810 MW and the rest 1,190 MW by Coal India. READ MORE

Angel One: The company posted 17.7 per cent quarter-on-quarter (QoQ) rise in profit to Rs 213.6 crore for Q2FY23. The consolidated total income, too, grew 9 percent QoQ to Rs 745.9 crore, during the same period. The company shared a second interim dividend of Rs 9 per share.

Den Networks: The digital cable TV service provider saw consolidated net profit to grow 27.7 per cent YoY to Rs 48.12 crore for Q2FY23, on the back of lower tax expenses and associate-related losses. However, revenue declined 11.6 per cent YoY to Rs 287.3 crore, during the recently concluded quarter.

Anand Rathi Wealth: The company reported 8.15 per cent QoQ growth in consolidated profit to Rs 42.95 crore for Q2FY23, whereas operating profit saw 8.4 per cent QoQ growth to Rs 60.4 crore. Revenue, on the other hand, rose 3.4 per cent YoY to Rs 136 crore in Q2FY23.

HDFC Life: The company received final nod from insurance regulator Insurance Regulatory and Development Authority of India (IRDAI) to merge Exide Life Insurance with itself. The appointed date for the scheme of amalgamation is April 1, 2022 and the scheme will be effective from the end of October 14, 2022.

Stocks in F&O ban: Delta Corporation and Indiabulls Housing Finance were banned in the F&O ban period on Friday, October 14.


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