Stocks To Watch: HCL Tech, Wipro, AstraZeneca Pharma, Infosys, L&T Finance, TCS, Delta Corp, RIL, M&M
Stocks to watch before going into trade today.
Shares swung slightly higher in Japan and Australia while South Korea’s benchmark index fell after the central bank pivoted back to outsized interest-rate increases. US futures edged up after the S&P 500 fell for the fifth consecutive session and the Nasdaq 100 tumbled more than 1% to set a fresh two-year low.
At 7:20 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- rose 0.29% to 16,983.50.
Rising rates in the US and the Bank of Japan’s ultra-loose stance are pushing the yen to levels that are causing alarm in Tokyo. The divergence is in focus this week with US consumer price data due Thursday that may determine if the Fed increases rates by 75 basis points in a fourth consecutive move in November.
Oil dropped for a third day on escalating concerns that a global slowdown will hurt energy demand amid a broad shift away from risk assets.
Source: Bloomberg
Delta Corp. Q2 FY23 (Consolidated, QoQ)
Revenue up 8% at Rs 270 crore Vs Rs 250 crore
EBITDA up 15% at Rs 100.34 crore Vs Rs 87.5 crore
EBITDA margin 37% Vs 35%
Net profit up 19% at Rs 68.25 crore Vs Rs 57.13 crore
Stocks To Watch
AstraZeneca Pharma India: The nasal Covid-19 vaccine by the company’s parent, AstraZeneca Plc, failed to elicit a strong immune response in an early test, reported Bloomberg.
Reliance Industries/ Mahindra & Mahindra: Jio-bp, the fuel retailing JV between Reliance Industries and bp, will extend its partnership with Mahindra & Mahindra to set up charging infrastructure for the upcoming electric launches of the Indian SUV maker.
Infosys: Ravi Kumar S., has stepped down from the office of President of Infosys, with effect from Oct. 11, 2022.
Tata Consultancy Services: The company enhanced its Quartz solution, which can be used by central and commercial banks to support the entire lifecycle of CBDCs, including issuance, book-keeping and transactions.
Shipping Corporation Of India: In separate meetings, unsecured and secured creditors, and equity shareholders of the company approved demerger of non-core assets of the company Shipping Corporation of India Land And Assets Ltd.
Indian Railway Finance Corporation: The company has signed a MoU with India Infrastructure Finance Company to strengthen cooperation in financing railway infrastructure projects with forward and backward linkages to Indian railways sector.
L&T Finance Holdings: SEBI approved the sale of L&T Investment Management Ltd., a wholly owned subsidiary and asset manager of L&T Mutual Fund, to HSBC Asset Management (India) Pvt. Ltd., subject to compliance with certain conditions.
Suzlon Energy: The company has secured an order from Aditya Birla Group to supply 69 units of wind turbine generators with a total installed capacity of 144.9 MW in Gujarat and Madhya Pradesh by 2023.
Adani Green Energy: Adani Renewable Energy Holding Four Ltd., wholly owned subsidiary of the company, has incorporated two new subsidiaries—Adani Renewable Energy Forty Four Ltd. and Adani Renewable Energy Forty Eight Ltd. The step down subsidiaries will operate in the field of renewable energy.
Genesys International Corporation: The company received an order worth Rs 46 crore from Andhra Pradesh government for land titling project.
DB Realty: The company has acquired entire equity shares of DB Man Realty, a subsidiary in which the company and its nominees already held 91% stake, making it a wholly owned subsidiary. The company also acquired entire equity shares of its another subsidiary, Spacecon Realty.
Fino Payments Bank: The board of PaySprint has approved allotment of 867 equity shares of face value of Rs 10 each to the bank at a premium of Rs 28,801 apiece, aggregating to Rs 2.5 crore, representing 7.98% of the former’s paid up share capital in accordance with a share subscription and shareholders’ agreement signed earlier this year.
NMDC: The Ministry of Corporate Affairs approved the merger of NMDC into NMDC Steel and their respective shareholders and creditors.
Spandana Sphoorty Financial: The board of the company will meet on Oct. 14 to consider and approve fundraising through the issue of NCDs on a private placement basis.
Gujarat Pipavav Port: Quarterly Updates QoQ
Container volume declined 0.53% during quarter ended Sept. 30, 2022.
Dry bulk volume increased 39.78% at 1.30 million metric tonnes.
Liquid cargo volume increased 5% to 0.21 million metric tonnes.
Earnings
Wipro, HCLTech, Sterling and Wilson Renewable Energy, Nxtdigital, National Standard (India)
Offerings
Tracxn Technologies: The issue was subscribed 54% on its second day. The retail portion was subscribed 2.61 times, whereas non-institutional basket was subscribed only 0.25 times. No demand was seen for the QIB portion.
Bulk Deals
IndusInd Bank: Goldman Sachs Investment (Mauritius) I bought 69.67 lakh shares (0.9%) at Rs 1,167.53 apiece, Route One Fund I LP sold 1.2 crore shares (1.55%) at Rs 1,168.26 apiece.
Motilal Oswal Financial Services: PPFAS Mutual Fund bought 5 lakh shares (0.34%), John Hancock Funds II International Value Fund sold 5 lakh shares (0.34%) at Rs 703 apiece.
Tilaknagar Industries: BofA Securities Europe SA bought 46.88 lakh shares (2.82%) at 99.98 apiece, EARC Trust SC 269 sold 21.5 lakh shares (1.3%) at Rs 100 apiece, EARC Trust SC 241 sold 20 lakh shares (1.21%) at Rs 100.07 apiece, EARC Trust SC 233 sold 8.5 lakh shares (0.51%) at Rs 100.03 apiece.
VST Tillers Tractors: First Sentier Investors ICVC-SI Asia Pacific Sustainability Fund sold 1.63 lakh shares (1.88%) at Rs 2,120.02 apiece.
Who’s Meeting Whom
Tata Elxsi: To meet investors and analysts on Oct. 14.
Eris Lifescience: To meet investors and analysts on Oct. 20.
Castrol India: To meet investors and analysts on Oct. 31.
Gland Pharma: To meet investors and analysts on Oct. 26.
Dabur India: To meet investors and analysts on Oct. 27.
GTPL Hathway: To meet investors and analysts on Oct. 17.
Trading Tweaks:
Price Band Revised From 20% To 10%: Jaiprakash Associates
Ex-Date Bonus: Shivalik Bimetal Controls
Move Into Short-Term ASM Framework: Lancer Container Lines, HBL Power Systems