Here are the top 10 stocks that are likely to be in focus on Tuesday:
LTIMindtree: The IT services firm reported a net profit of ₹1,151 crore, a 4% increase in the June quarter. Its operational revenue for the quarter stood at ₹8,702 crore, marking a 14% growth. The company recorded earnings before interest, tax, depreciation, and amortisation of ₹1,635 crore for the June quarter, reflecting a 9% year-on-year rise.
Tata Elxsi: The company reported a net profit of ₹188.9 crore, up 2.3% atyear-on-year. Its revenue saw an impressive 17.1% surge, reaching ₹850.3 crore as opposed to ₹725.9 crore YoY. Earnings Before Interest and Taxes (EBIT) also increased by 4.1% at ₹230.1 crore compared to ₹221.1 crore YoY. However, the company’s margin saw a decline, registering at 27.1% versus 30.5% YoY.
Reliance Industries: The National Stock Exchange will conduct a special pre-market session on 20 July for Reliance on account of demerger of its financial services business into Reliance Strategic Investments Limited. BSE also announced that Jio Financial will be added to 18 of the S&P BSE indices, including the S&P BSE Sensex, starting 20 July for a period of three days – on account of Reliance Industries being a part of the special pre-open session. After three days, it will be dropped from all the S&P BSE indices at the last traded price.
Sheela Foam: The company’s board had approved two acquisitions involving a 94.6% stake in Kurlon Enterprise Limited (KEL) and a 35% stake in Furlenco owner House of Kieraya Pvt Ltd. It is acquiring 94.66% of KEL at an equity valuation of ₹2150 crore, subject to customary adjustments for working capital, debt and surplus cash.
Maruti Suzuki: The automaker said it has incorporated a pedestrian safety vehicle alarm feature in the electric hybrid versions of its SUV Grand Vitara. This upgrade, known as the Acoustic Vehicle Alerting System (AVAS), will increase the prices by up to ₹4,000. AVAS has been added to the smart electric hybrid models of the Grand Vitara to enhance safety for both drivers and pedestrians. The system is designed to alert individuals to the vehicle’s presence.
Indian Oil Corp: The state-owned company has entered into contracts to import liquefied natural gas on a long-term basis from the Abu Dhabi Gas Liquefaction Co Ltd in the UAE and TotalEnergies of France. IOC will import 1.2 million tonnes per annum of LNG from Adnoc-LNG for 14 years starting in 2026. The deal with TotalEnergies is for the import of 0.8 million tonnes a year of LNG for 10 years starting in 2026.
Federal Bank: The lender’s subsidiary Fedbank Financial Services, also known as FedFina, said its board has proposed to launch an IPO during a board meeting on Monday. The IPO of FedFina will be executed through a blend of a new issue and an offer for sale.
Infosys: The IT services company has reached a framework agreement with an existing strategic client to offer services related to AI and automation-led development, modernization, and maintenance. The client’s projected expenditure over the course of five years is expected to reach around $2 billion.
Indraprastha Gas: The company announced setting up of an integrated smart meter manufacturing facility, with a capital expenditure of ₹110 crore in a joint venture with Genesis Gas Solutions. Initially, the plant will have the capacity to produce one million meters per year. The operation of the facility is scheduled to commence by April 2024.
Hindware Home Innovation: The consumer appliances company on Monday announced the appointment of Salil Kapoor as the company’s new chief executive officer, effective 11 July. Kapoor will lead the consumer business overseeing both consumer appliances and retail divisions along with the water heater JV with Groupe Atlantic of France.
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Updated: 18 Jul 2023, 07:21 AM IST