Stocks to watch today: Shares of firms like TCS, Lupin, HDFC, IDBI Bank, Power Grid, and others will be in focus in Monday’s trade
Nifty futures on the Singapore Exchange traded 278 points, or 1.61 per cent lower at 17,036, signaling that Dalal Street was headed for a negative start on Monday. Here are a dozen stocks which may buzz the most in today’s trade:
Stocks in focus on 10 October
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Tata Consultancy Services (TCS): The IT major will be in focus ahead of September 2022 quarterly result. Experts believe TCS will continue its revenue growth momentum while operating margins are likely to improve from the wage hike impact that was seen in Q1. TCS is seen to record healthy growth across verticals. Attrition rate, EBIT margin outlook, rupee depreciation benefit, and deal wins will be among key things to watch out for.
HCL Technologies: The IT company plans to hire 1,300 people in Mexico over the next two years The move is expected to strengthen its current employee base of 2,400 people in that country.
Star Health and Allied Insurance Company: The company clocked gross direct premium of Rs 5,655.1 crore for the quarter ended 30 September 2022, a 12 per cent growth over a year-ago period, with health-retail segment registering 21 per cent on-year growth at Rs 4,306.4 crore.
Lupin: Kamal K. Sharma Non-Executive Vice Chairman of the Company, will be stepping down from the Board of Directors of the company with effect from 14 October 2022.
HDFC: The Housing Development Finance Corporation will raise up to Rs 12,000 crore by issuing bonds on a private placement basis. The base issue size is Rs 1,000 crore with an option to retain over subscription of up to Rs 11,000 crore, it said in a stock regulatory filing. The secured redeemable Non-Convertible Debentures (NCDs) will carry a coupon rate of 8.07 per cent per annum for a tenor of 10 years.
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IDBI Bank: The government of India has engaged KPMG India as the transaction adviser and Link Legal as the legal adviser for providing advisory services and managing the transaction of stake sale in IDBI Bank. The government and LIC of India intend to sell little more than 30 per cent stake each in IDBI Bank. The government, which has invited an expression of interest from the bidders, has a 45.48 per cent and LIC a 49.24 per cent shareholding in the bank.
Tata Motors: Jaguar Land Rover sold 88,121 vehicles in the quarter ended September, up 11.8 per cent over the previous quarter but a decline of 4.9 per cent from the year-ago period. Compared to the first quarter, retail sales were higher in China (up 38 per cent), North America (up 27 per cent) and Overseas (up 14 per cent) but were lower in the UK (down 7 per cent) and Europe (down 10 per cent). In the first half of FY23, the company saw a 23.2 per cent decline in sales volume at 1.66 lakh vehicles on-year. Its total order book in Q2FY23 has grown by 5,000 vehicles to 2.05 lakh vehicles from the previous quarter.
Power Grid Corporation of India: Subsidiary POWERGRID Bhind Guna Transmission has successfully commissioned the transmission system in Madhya Pradesh. The subsidiary secured an order to establish transmission system for intra-state transmission work associated with the construction of a 400kV substation near Guna and a 220kV substation near Bhind on build, own, operate and maintain basis.
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