Stocks to Watch: Mindtree, HCL Tech, BPCL, Ujjivan SFB, HDFC Bk, Adani grp

HCL Technologies is scheduled to announce Q3 results on Friday, while HDFC Bank will report numbers on Saturday. Adani group stocks may be in focus on the back of MoU with POSCO.

The key benchmark indices are likely to start trade on a tepid note given the fragile global cues. The major Asian markets were down 0.5-1.5 per cent in early morning trade on Friday. As of 08:00 am, the SGX Nifty January futures indicated a loss of 50-60points at the opening bell. Meanwhile, here are the stocks in focus for trade today.

Earnings Watch: Ashirwad Capital, Gujarat Hotels, HCL Technologies, Infomedia Press, International Travel House, Onward Technologies, Refnol Resins and Tinplate Company of India are some of the companies to announce December quarter results today.

Over the weekend, Datasoft Applications, HDFC Bank, Metro Brands, Sacheta Metals, Shiva Global Agro and Urja Global will be announcing the third quarter earnings.

Adani Group: The Adani group and South Korean steel major POSCO have entered into a deal to explore business cooperation opportunities, including setting up a green, environment-friendly integrated steel plant at Mundra, Gujarat. The investment is estimated to be up to $5 billion (about Rs 37,000 crore), the Gautam Adani-led group said in a statement on Thursday. READ MORE

Reliance Industries: As part of the investment promotion activity for the now-deferred 10th Vibrant Gujarat Global Summit 2022, Reliance Industries (RIL) on Thursday signed a MoU with the government of Gujarat, which entails an investment of Rs 5 trillion in over the next 10-15 years for setting up a 100-gigawatt (Gw) renewable energy power plant and green hydrogen ecosystem development to make the state net-zero and carbon-free. READ MORE

BPCL: The Vedanta Group is willing to spend $12 billion to acquire India’s state-owned refiner Bharat Petroleum Corp (BPCL). The commodities tycoon expects India to open the bids for BPCL in March. Besides Vedanta Group, PE firms Apollo Global Management and I Squared Capital have also showed interest in acquiring the government’s holding in the oil refiner. READ MORE

TCS, Infosys: Brokerages have given the thumbs up to the results of India’s tier-1 IT services companies – TCS and Infosys. Analysts have upgraded their earnings estimates and target prices. READ MORE

Future Group: The National Company Law Appellate Tribunal (NCLAT) has agreed to hear US e-commerce firm Amazon’s plea challenging the Competition Commission of India’s (CCI’s) suspension of approval to the 2019 transaction with Future Group on February 2. READ MORE

Mindtree: The IT services provider reported a net profit of Rs 437.5 crore for the third quarter of FY22, an increase of 34 per cent YoY and 9.7 per cent OQoQ. Revenue grew 35.9 per cent YoY to Rs 2,750 crore in the Q3, and was up 6.3 per cent on a QoQ basis. READ MORE

Ujjivan Small Finance Bank: The RBI has approved the appointment of Ittira Davis as the managing director and chief executive officer of the firm for a one-year term effective January 14. Ujjivan SFB informed BSE, that accordingly the special committee of directors, formed in September to oversee the operations and administration in the absence of MD & CEO, stood dissolved from January 13, 2022. READ MORE

Tata Metaliks: The company reported a sharp 52.5 per cent fall in Q3FY22 profit to Rs 35.66 crore when compared with Rs 75.18 crore in Q3FY21. Total income, however, was up 31.2 per cent YoY at Rs 693.12 crore from Rs 528.33 crore.

Aditya Birla Money: The company’s Q3 net profit rose by 53.8 per cent to Rs 6.46 crore for the quarter ended December 2021 as against Rs 4.20 crore in the corresponding period a year ago. Total income jumped 23 per cent YoY to Rs 60.75 crore from Rs 49.38 crore.

Gautam Gems: The company’s board approved issue of 1 crore equity shares on a rights basis. For the quarter ended December 2021, the company reported a net profit of Rs 12 lakh as against a net loss of Rs 1.72 crore in the corresponding period a year ago. Total income rose by 15.5 per cent to Rs 37.25 crore from Rs 32.24 crore.

Stocks in F&O ban: Indiabulls Housing Finance, Vodafone Idea and SAIL are the only three stocks in the F&O ban period today.