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HomeNewsStocks to watch: Infosys, Mindtree, HCL Tech, Wipro, Adani Ports, PVR, SBI

Stocks to watch: Infosys, Mindtree, HCL Tech, Wipro, Adani Ports, PVR, SBI


Stocks to watch: Weak foreign flows coupled with subdued market movement overseas may prompt domestic equity to edge lower in Thursday’s trade. At 7:05 am, the SGX Nifty Futures quoted at 17,042 levels, over 50 points lower.

Globally, the US were flat in Wednesday’s trade. Dow Jones, the S&P 500, and NASDAQ Composite declined up to 0.3 per cent.

Asia-Pacific markets, too, joined the league and traded muted on Thursday.

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

Q2 results: Infosys, MindTree, Angel One, Cyient, Anand Rathi Wealth, Aditya Birla Money, Atharv Enterprises, and Shri Niwas Leasing will report July-September results (Q2FY23) on Thursday, October 13.

HCL Technologies: The IT services company registered 7 per cent year-on-year (YoY) rise in consolidated net profit to Rs 3,489 crore in Q2FY23 from Rs 3,259 crore, a year ago. Revenue, too, climbed 19.5 per cent YoY higher to Rs 24,686 crore in Q2FY23. The board also declared an interim dividend of Rs 10 per share. READ MORE

Wipro: The IT major saw a 9.3 per cent YoY drop in Q2FY23’s net profit to Rs 2,659 crore from Rs 2,930.6 crore, a year ago. Revenue from operations, too, surged 14.6 per cent to Rs 22,539.7 crore in Q2 from Rs 19,667.4 crore in Q1FY23. READ MORE

Power Grid: In the past five months, LIC has sold over 2 per cent of its holding in Power Grid for Rs 3,079.43 crore. The shares were sold at an average price of Rs 220.4 per share, during the period, through an open market sale. READ MORE

Adani Wilmar: The edible oil major warned that the company’s overall revenue in Q2FY23 may grow in low single-digit YoY, amid fall in edible oil rates. Txhe company anticipates revenues and volumes to grow in low double-digits in the first half of this fiscal year (H1FY23). READ MORE

Adani Ports: A letter of award was handed over to for the development of a deep-sea port at Tajpur by the West Bengal government. According to reports, the port would entail an investment of about Rs 15,000 crore and another Rs 10,000 for infrastructure development.

PVR, Inox Leisure: PVR announced that the shareholders approved a proposed merger with Inox Leisure on Wednesday, October 12. The meeting was convened following the NCLT’s directions. Earlier this year, both the companies said they received approval from NSE and BSE.

SAIL: The government scrapped privatisation of the company’s Bhadravathi plant due to low bidder interest. Officials said that the private bidders are interested in steel plants that have higher production volume. Earlier, the CCEA had accorded ‘in-principle nod’ for strategic disinvestment of three units of SAIL.

AU Small Finance Bank: The private sector lender hiked fixed deposit rates by 50 basis points (bps) to 7.5 per cent. Senior citizens will get an interest of 8 per cent on their fixed deposits. The hike in fixed deposit rates offers one of the most competitive fixed deposit interest rates in the industry, said the bank.

SBI, HDFC: Both the leading lenders announced discounted interest rates at 8.4 per cent as part of their festive offerings. Earlier, leading banks and mortgage players increased lending rates by up to 0.50 percentage point after the Reserve Bank of India last raised its repo rate by 50 bps to tame inflation.

Vedanta: The company received shareholders approval to transfer Rs 12,857 crore from its general reserve to its profit and loss (P&L) account. The money will be utilised to create further value of shareholders, the company said.

Stocks in F&O ban: Delta Corporation, Indiabulls Housing Finance were banned in the F&O ban period on Thursday, October 13.


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