Stocks to watch today: Shares of firms like Wipro, HCL Technologies, Infosys, BPCL, Tata Power, IOC, Hindustan Zinc, and others will be in focus in Thursday’s trade
Nifty futures on the Singapore Exchange traded 58.5 points, or 0.34 per cent lower at 17,046.5, signaling that Dalal Street was headed for a negative start on Thursday.
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Infosys, Mindtree, Angel One, Anand Rathi Wealth, Aditya Birla Money, Cyient, and Den Networks will be in focus ahead of quarterly earnings on October 13.
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Here are a dozen stocks that may buzz the most in today’s trade:
HCL Technologies: HCL Technologies posted a 7 per cent on-year rise in consolidated net profit to Rs 3,489 crore for the September quarter and raised the full-year revenue guidance. The net profit stood at Rs 3,259 crore in the year-ago period. The revenue for the three months ended September 30, 2022, came in at Rs 24,686 crore, 19.5 per cent higher than the same period the previous year.
Wipro: The IT services major reported a 9.3 per cent drop in its September quarter net profit, weighed down by rising staff expenses and lower non-US earnings. Profit attributable to equity shareholders of the company at Rs 2,659 crore in July-September was 9.27 per cent lower than Rs 2,930 crore in the year-ago period.
Hindustan Zinc: The government will sell part of its residual stake in Vedanta-controlled Hindustan Zinc (HZL) in the current fiscal, department of investment and public asset management (Dipam) secretary Tuhin Kanta Pandey told FE. An expression of interest (EoI) will be invited for strategic sales of Container Corporation (ConCor) and two former Air India arms – Air Transport Services and Air India Engineering Services by November-December.
Tata Power: The company is going to develop Tata Motors’ seven MW solar project at its Pantnagar manufacturing facility in Uttarakhand. This installation is expected to generate 215 million units of electricity, potentially mitigating over 1.7 lakh tonnes of carbon emissions.
Adani Wilmar: The company expects its revenue for September FY23 quarter to grow at low single digit compared to the year-ago period, whereas the first half of FY23 revenues and volumes are expected to register a low double-digit growth. The food and FMCG basket continued its growth trajectory similar to previous quarters registering growth of over 40 per cent. Its industry essential business also grew close to 20 per cent during the quarter and H1 both.
IOC, BPCL, HPCL: The Union Cabinet has approved a one-time grant of Rs 22,000 crore to three oil marketing companies – Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation (HPCL) – to reduce cost pressures and cover the last two years’ losses on selling LPG in domestic market. The grant will aid the fuel retailers to tackle the under-recoveries that surfaced during this two-year period.
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