TCS, HCL Tech, HDFC Bank, Wipro, Patanjali Foods, SpiceJet, and Other Stocks to Keep an Eye on

As a result of Nifty futures trading 10 points, or 0.05 percent, down at 19,555, Dalal Street was expected to open flat on Thursday. These stocks will be the subject of today’s attention for a variety of reasons.

current quarterly profits

Among others, Federal Bank, Wipro, and Angel One will present their first quarter results today.

Tata Consultancy Services: Tata Consultancy Services (TCS) Ltd. said on Wednesday that its consolidated net profit for the first quarter of the current fiscal year that ended in June (Q1FY24) increased by 16.84% year over year to Rs 11,074 crore. In the same time last year, the business generated a profit of Rs 9, 478 crore. The consolidated net profit decreased 2.8% sequentially. The IT company’s consolidated revenue from operations increased from Rs 52,758 crore in Q1FY23 to Rs 59,381 crore in the quarter that ended in June. Up 0.4% sequentially from Rs 59,162 crore in Q4FY23.

HCL Tech: On Wednesday, the third-largest exporter of software services from India, HCL Technologies Ltd, announced a 7.6% increase in net profit over the same period last year, coming in at Rs 3,534 crore. The business reported rupee sales of Rs 26,296 crore for the June quarter, a 12.1% increase from the same period last year but a 1.2% sequential decline. In constant currency (CC) terms, revenues increased 6.3% over the prior year. Earnings fell short of both corporate and market forecasts.

HDFC Bank: Starting on July 13, HDFC stock will no longer be listed and start trading as HDFC Bank. As a consequence, stockholders will have their shares changed to HDFC Bank and HDFC will be delisted from the stock market. After the conversion, HDFC Ltd. stockholders would own a 41% shareholding in HDFC Bank Ltd. This transaction, which happened on April 4, 2022, is regarded as the biggest in corporate history of India. In a $40 billion transaction, HDFC Bank and the biggest domestic mortgage lender came together to build a powerful financial services giant.

Vedanta: At the 58th Annual General Meeting (AGM) today, Vedanta’s chairman Anil Agarwal said that the company had partners lined up for semiconductor initiatives. According to him, the business has a number of partners and is awaiting government permissions. Days after its former partner Foxconn chose to end its relationship with Vedanta, the news was made. “After the government gives its clearance, we will start our historic journey into producing semiconductor fabs and glass fabs. This will provide the business a completely new path for quick development in a crucial industry for the nation, he said.

Hindalco Industries: A proposal to sell a land piece in Kalwa, Maharashtra, for Rs 595 crore was accepted by the board of directors of Hindalco Industries Limited. The property piece has a total size of 12.95 acres and is situated in the Kalwa MIDC region. Hindalco’s plan to concentrate on its core industries and pay off its debt includes selling the property piece. The sale’s revenues will be used to debt repayment and other basic business needs.

SpiceJet: SpiceJet said on Wednesday that its promoter Ajay Singh would invest Rs 500 crore in the business to improve the financial standing of the airline. According to a statement from the firm, the recent equity injection would enable the carrier to get new credit facilities totaling Rs206 crore via the Emergency Credit Line Guarantee Scheme (ECLGS). In order to improve the company’s financial condition, Ajay Singh volunteered to invest 500 crore, which the SpiceJet board of directors took into consideration on Wednesday.

Wipro: Over the next three years, IT services provider Wipro Ltd. plans to spend $1 billion in artificial intelligence (AI). Wipro said in a statement on Wednesday that the investment would assist the firm in advancing its foundation in AI, data and analytics skills, building new consulting capabilities, and more. Additionally, the business announced the establishment of Wipro ai360, an environment for AI-first innovation, and announced plans to educate all 250,000 of its staff members in AI over the course of the next year.

Food and ayurvedic product manufacturer Patanjali Foods Ltd said on Wednesday that its main promoter Patanjali Ayurved Ltd intends to sell at least 7% of the share for Rs 2,533.9 crore through an OFS on exchanges. The OFS is intended to assist Patanjali Foods in adhering to the Sebi’s minimum public shareholding requirements. According to a filing with the exchange, Patanjali Ayurved would sell 25.3 million shares for $1,000 each as part of the OFS. The OFS subscription period runs from Thursday through Friday. On July 14, small-scale investors may submit their offers.

India Thomas Cook: Thomas Cook India, a supplier of travel services, said on Wednesday that DEI Holdings Limited in the UAE has bought a 50% share in 500 FT SPV Limited. The amount of investment DEI Holdings made in the UAE-incorporated 500 FT SPV Limited was not made public by Thomas Cook India. A 51% step-down subsidiary of the corporation in the UAE, DEI Holdings Limited (DEI), has invested in “500 FT SPV Limited,” a business established there. Following the transaction, Thomas Cook India told the BSE in a regulatory filing that DEI now has a 50% share in 500 FT SPV Limited.

Power Finance Corporation: To fund Rs 10,000 crore via NCDs, the state-owned Power Finance Corporation (PFC) has submitted a draft shelf prospectus. The prospectus was submitted by the firm to the BSE on July 6. The public offering of secured, graded, listed, and redeemable NCDs would be done in one or more tranches, each with a face value of Rs 1,000. At least 75% of the net proceeds will be used by PFC for future lending, financing, debt refinancing, and debt service, with the remaining 25% going toward general company purposes.