Stocks to Watch on January 15: The domestic markets may see a gap-up start Monday amid the December quarter results, and despite the largely weak global sentiment.
At 7:40 AM, Gift Nifty was quoting 96 points higher at 22,043 levels.
Asian stocks are trading mixed with Nikkei up 0.57 per cent. Kospi, Hang Seng, and Shanghai Composite, meanwhile, were down up to 0.76 per cent.
Last Friday, the Dow Jones Industrial Average lost 0.31 per cent, but the S&P 500 ended the day 0.08 per cent higher and the tech-heavy Nasdaq Composite closed 0.02 per cent up.
Here’s a list of stocks to watch today:
Q3FY24 earnings today: Angel One, Brightcom Group, Choice International, Jai Balaji Industries, Jio Financial Services, Kesoram Industries, and PCBL.
Wipro: IT major Wipro has forecast a muted sequential revenue growth of -1.5 per cent to 0.5 per cent in constant currency for the fourth quarter ended March 2024 as deal ramp ups and client decision making are yet to gain pace.
It posted a net profit of Rs 2,700 crore for the third quarter ended December 2023, down 12 per cent from a year ago but up 1.2 per cent quarter-on-quarter.
The American Depository Receipts (ADRs) of Wipro jumped 17 per cent on the New York Stock Exchange (NYSE) on January 12 as the company’s third quarter results were in line with expectations.
HCL Technologies: The company’s revenue for the quarter grew 6.5 per cent year-on-year to Rs 28,446 crore, and 6.7 per cent on a quarter-on-quarter basis.
This is one of the highest revenue growths since Q3FY21. It reported a net profit of Rs 4,350 crore, up 6.2 per cent year-on-year, and 13.5 per cent sequentially.
Avenue Supermarts: The owner and operator of retail chain DMart, on Saturday, reported a 17 per cent rise in its consolidated net profit to Rs 690.41 crore for the third quarter ended December 31.
Its revenue from operations grew 17.31 per cent to Rs 13,572.47 crore during the quarter.
Sheela Foam: The company has completed the acquisition of 2.57 per cent of the share capital of Kurlon Enterprises for an aggregate consideration of approximately Rs 55.33 crore. Sheela Foam Limited now holds 97.23 per cent of the share capital of KEL.
BHEL: Bharat Heavy Electricals has received a Letter of Award (LoA) for EPC package for Talabira Thermal Power Project (NTTPP) from NLC India Limited. The size of the order is in excess of Rs 15,000 crore.
Tata Consumer Products: Tata Consumer Products has signed definitive agreements to acquire 100 per cent equity shares of Capital Foods, owner of the brands ‘Ching’s Secret’ and ‘Smith & Jones’, in a phased manner.
75 per cent of the equity shareholding will be acquired upfront and the balance 25 per cent shareholding will be acquired within the next three years, the company said.
Just Dial: It reported a 22.3 per cent year-on-year rise in consolidated net profit to Rs 92 crore in Q3FY24, up from a PAT of Rs 75.3 crore.
Avalon Technologies: The company is now a strategic manufacturing partner for C-DAC (Centre for Development of Advanced Computing), a premier R&D organization of the Ministry of Electronics and Information Technology (MeitY).
Goodluck India: Goodluck India Ltd. has launched its qualified institutional placement to raise up to Rs 200 crore.
The company’s board has set the floor price for the issue at Rs 989.40 apiece, a discount of 10 per cent from its closing price of Rs 1,100.50 apiece on Friday.
Life Insurance Corp: It has received a tax demand worth Rs 1,370.6 crore from the Mumbai tax authority.
Allcargo Gati: The company’s total monthly volume, including surface and air express, stood at 105 kilo tonne, up 7 per cent Y-o-Y.
InterGlobe Aviation: The company has received an order from Sri Lanka Customs levying a penalty of Sri Lankan Rupees 50,000 (approximately Rs 13,000) for violation of Section 63 of the Customs Ordinance (Chapter 235), Sri Lanka.