Stock to Watch Today - Rupeedesk Reports - 12.07.2023
Stock to Watch Today - Rupeedesk ReportStock to Watch Today - Rupeedesk Reports
Buzzing Stocks: TCS, HCL Tech, Sterlite Tech, Lupin and others in news today.
Results on July 12: Tata Consultancy Services, 5paisa Capital, Anand Rathi Wealth, Steel Strips Wheels, Artson Engineering, Hathway Bhawani Cabletel & Datacom, and Sanathnagar Enterprises will be in focus ahead of their quarterly earnings on July 12.
HCL Technologies is expected to report a net profit of Rs 3,782 crore in Q1FY24, according to average of the estimates by Philip Capital, Nirmal Bang, AMP, and HDFC Securities. This is a 5.3 percent decline quarter-on-quarter, and a 8.1 percent increase year-on-year. Dollar revenues are expected to be around $3,268 million in the April to June quarter, a 0.8 percent growth sequentially and a 7.8 percent growth year-on-year. Revenue (in Rupees) for the tech company is estimated to be around Rs 26,858 crore in Q1FY24, a 0.4 percent increase quarter-on-quarter and 13.8 percent increase year-on-year in the company’s revenue numbers, according to a mean consensus of the above four brokerage firms.
J&K Bank: The bank's Board of Directors in their meeting scheduled for July 15, 2023 shall consider the raising of capital (Tier I/Tier II) during the financial year 2023-24.
Greaves Electric Mobility Private Limited (GEMPL): The e-mobility division of Greaves Cotton Limited achieved a cumulative secondary sales milestone of 200,000 units for its Ampere brand electric 2-wheelers till the first quarter of the fiscal year 2024. In April, the Company announced surpassing the 100,000 sales milestone of its Ampere brand electric 2-wheelers in the fiscal year 2023.
Lupin: The pharma major has received the establishment inspection report (EIR) from the United States Food and Drug Administration (USFDA) for its Pithampur Unit-2 manufacturing facility that manufactures oral solids and ophthalmic dosage forms. The EIR was issued post the last inspection of the facility conducted from March 21 to March 29, 2023. The USFDA has determined that the inspection classification of the facility is Voluntary Action Indicated (VAI).
Prataap Snacks: The company has informed that July 27, 2023 shall be the record date for the purpose of determining the name of members of the Company eligible for payment of dividend and holding the 14th Annual General Meeting of the Company on Thursday, 3rd August, 2023.
Credent Global Finance: The company said that the Rights Issue Committee of the Board at its meeting held on 11th July 2023, have inter alia considered and approved rights issue size of 34,68,750 shares. It also approved the price at Rs 140 per share. Rights Entitlement Ratio will be 1 share for every 2 fully shares held by the eligible equity shareholders. Record date is July 17.
Sterlite Technologies: The company has announced its partnership with Windstream, a privately held communications and software company, to support their large-scale fiber expansion projects. The collaboration started in February 2021, when the STL began providing Optical Networking Solutions to Windstream.
North Eastern Carrying Corporation: The rights issue offer closed on July 11, 2023. The company is raising Rs 81 crore from the issue.
Plastiblends India: The company's Q1 profit was down 24 percent YoY at Rs 7.6 crore vs Rs 10 crore. Revenue fell 4.2% to Rs 195.7 crore YoY. EBITDA margin was at 6.8% Vs 8% in the same quarter last year.
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