Stocks to watch: Shares of firms like TCS, HCL Tech, Delta Corp, Nazara Tech, Airtel, SpiceJet, and others will be in focus on Wednesday’s trade.
Stocks to Watch on July 12: Nifty futures traded 9 points, or 0.05 per cent, lower at 19,528, signaling that Dalal Street was headed for a negative start on Wednesday. Here’s a slew of stocks that will be in focus today for various reasons.
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Results today: 5Paisa, Hathway Cables, HCL Technologies, Steel Strips Wheels and TCS among 10 companies scheduled to announce June quarter earnings on Wednesday.
TCS: Wage hikes to erode margin in Q1FY24; The weakness may come on account of a worsening demand environment, which is leading to cancellation and delay in projects, a longer sales cycle and slower revenue conversion.
HCL Tech: The IT firm will likely report muted sequential growth in revenue for the June quarter (Q1FY24) amid a persistently weak global demand environment and weakness in the company’s engineering and R&D (ER&D) business, as per analysts.
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Delta Corp, Nazara Technologies: The Goods and Services Tax (GST) Council on Tuesday approved the imposition of a uniform 28 per cent tax on full “face value” of bets involving online gaming, casinos and horse racing. Industry stakeholders had been arguing that games of skill be treated differently from games of chance for tax purposes.
SpiceJet: Aviation watchdog DGCA has put SpiceJet under “enhanced surveillance” amid the budget airline facing multiple financial headwinds in recent months, PTI reported, but the carrier refuted any such development.
Bharti Airtel: The company has entered into an agreement to buy additional 20.6 per cent stake in Lavelle Networks. The firm already owns 25 per cent stake in Lavelle.
Adani Group: The Supreme Court on Tuesday adjourned the hearing in the Adani-Hindenburg case to August 14. The Securities and Exchange Board of India (Sebi) needs to complete its probe into the case by this date.
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Meanwhile, the Gautam Adani flagship firm Adani Enterprises has raised Rs 1,250 crore by way of issue of non-convertible debentures on private placement basis.
Greaves Cotton: “Greaves Electric Mobility Private Limited, (GEMPL), the e-mobility division of Greaves Cotton, has achieved cumulative 200,000 secondary sales of its “Ampere” brand electric 2-wheelers till the first quarter of fiscal year 2024.
Happiest Minds: The company’s board is scheduled to meet on July 14 to consider and approve the issue price, including discount if any, for equity shares to be alloted to Qualified Institutional Buyers (QIBs).
Lupin: The company’s Pithampur Unit-2 manufacturing plant has received the Establishment Inspection Report (EIR) from the US FDA.
Tatva Chintan Pharma: The company’s board has approved fund raise of up to Rs 200 crore.
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