Stocks to Watch: TCS, Infosys, M&M Ultratech Cement, LIC, HG Infra

Tata Consultancy Services: The country’s largest IT firm’s net profit improved 2.7% sequentially in the December quarter, and by 7% from a year earlier, to $1.41 billion. TCS reported revenue of $7.28 billion for the third quarter, representing a 1% sequential increase and a 2.9% increase from the same period a year earlier.

Infosys: The firm’s revenue totalled $4.66 billion, a 1.2% sequential decline and only a 0.1% improvement from the year-ago period. Consolidated net profit for the December quarter was $733 million, down 2.3% sequentially and 8.3% year-on-year.

Wipro: The IT company will announce its December quarter earnings today. Analysts at BNP Paribas expect services revenue to decline 2.5% sequentially in line with guidance and due to seasonal furloughs and the continued impact of a slowdown related to a cut in discretionary tech spending.

HCL Tech: The company is likely to report a 6.3% growth in net profit to ₹4,063 crore, driven by robust revenue expansion and a 5.47% sequential uptick in EBIT to ₹5,204 crore, During the second quarter, HCL recorded profit at ₹3,832 crore, and revenue from operations at ₹26,672 crore.

UltraTech Cement: The company has announced the acquisition of a 26% stake in Amplus Ages by investing ₹49 crore. The acquisition is to meet the company’s green energy needs, optimizing energy costs and comply with regulatory requirements for captive power consumption under electricity laws, it said.

Mahindra & Mahindra: The company has approved up to ₹630 crore investment in Mahindra Electric Automotive Limited through a subscription to a rights issue of shares of MEAL. Each share, valued at ₹10, will see an additional premium of ₹4.50 per share.This investment will help MEAL meet its financial requirements for ongoing business operations.

Life Insurance Corp: LIC said tax authorities have slapped two demand notices aggregating to about ₹3,529 crore on it. The insurer would file an appeal against the said orders within the prescribed timelines, it said.

HG Infra: The company has been declared L-1 bidder for a project worth ₹716 crore by Central Railway on an engineering, procurement, and construction basis.

Bhansali Engineering Polymers: The company has received environmental clearance from the State Level Environment Impact Assessment Authority, Rajasthan for the expansion of acrylonitrile butadiene styrene (ABS) resin and saleable styrene acrylonitrile (SAN) resin at its plant at Abu Road.

Shalby Academy: Arm Shalby Academy signs MoU with Kaushalya, the Skill University of Gujarat Government to offer certificate, diploma, and post‐graduate diploma programs focusing on clinical paramedical and allied health science segments.

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Published: 12 Jan 2024, 07:13 AM IST