The key benchmark indices are likely to start trade on a positive start on the back of strong performance by IT majors Infosys and TCS. As of 08:10 am, the SGX Nifty January futures quoted at 18,353, indicating a likely 100-point gap-up for the NSE benchmark. Meanwhile, here are the stocks in focus for trade on Thursday.
Earnings Watch: Aditya Birla Money, CESC, Gautam Gems, GTPL Hathway, Mega Corporation, Mindtree, Palm Jewels, Rotographics India, Surana Solar and Tata Metaliks, are some of the companies to announce December quarter results today.
The three IT majors – Infosys, TCS and Wipro are likely to be in focus after announcement of the Q3 earnings post market hours on Wednesday. While the former two beat expectations, Wipro lagged. READ MORE
Infosys: The IT major beat analysts’ expectations by reporting a strong 7.1 per cent QoQ jump in net profit to Rs 5,809 crore, on the back of a 7.6 per cent QoQ rise in total income to Rs 31,867 crore. The company also upped its FY22 revenue guidance to a range of 19.5 per cent to 20 per cent from the earlier 16.5 per cent to 17.5 per cent.
TCS: India’s largest IT firm, reported a marginal growth of 1.4 per cent on QoQ basis in net profit at Rs 9,769 crore, and a 4.3 per cent growth in total revenue to Rs 48,885 crore for the quarter ended December 2021. The company’s board also approved a share buyback plan worth Rs 18,000 crore at Rs 4,500 per share.
Wipro: The company fell short of market expectation, as it’s net profit was up 1.3 per cent on a QoQ basis at Rs 2,969 crore for the third quarter ended December 2021. Total income grew by 3.3 per cent on a sequential basis to Rs 20,314 crore.
Vodafone Idea: The telecom player’s decision to convert government dues into equity and issue shares worth Rs 16,000 crore, does gives it a breathing space of four more years, but the company still has a crippling debt burden. On operational variables, the company lags behind the other two major telcos. READ FULL ANALYSIS
Paytm: The company’s CEO Vijay Shekhar Sharma said on Wednesday that the company's share market performance has been in line with that of global peers due to macroeconomic factors. The stock as of Wednesday had declined 50 per cent from its issue price of Rs 2,150. According to analysts, the market has punished the stock for a thinly spread business model, scant revenues and an unclear path to profitability. READ MORE
Easy Trip Planners (EaseMyTrip): The online travel platform’s board has approved issuance of bonus shares in the ratio of 1:1, out of its free reserves created out of profit. READ MORE
Mahindra & Mahindra: The company informed BSE, that ratings agency CRISIL Ratings had reaffirmed its 'CRISIL AAA/Stable/CRISIL A1+' ratings on the bank facilities and debt instruments.
Dixon Technologies: The company has formed a joint venture with Rexxam for undertaking business of manufacture of Printed Circuit Boards for Air Conditioners (PCBA) for domestic and international markets. The JV has received approval under the government’s PLI scheme for white goods category. The company will be holding 40per cent stake in the JV.
RITES: The leading Transport Infrastructure Consultancy and Engineering company has signed an MoU with IIT-Roorkee to explore viable business opportunities in the infrastructure sector.
HG Infra Engineering: The company has informed BSE, that it has cancelled an order from Public Works Department (PWD) of Rajasthan for various activities, for the company had bid for a project cost of Rs 448.11 crore, but PWD offered an Letter of Award worth Rs 331.11 crore only.
HKG: The company’s board has approved a bonus issue in the ratio of 1:2 i.e. one free share for every shareholder holding two equity shares as of the record date. The board has also approved a proposal to shift the stock from the BSE SME platform to the BSE Main board.
Rajnish Wellness: The company’s board has approved a proposal to shift the stock from the BSE SME board to the BSE Main board.
Stocks in F&O ban: Delta Corp, Indiabulls Housing Finance, Vodafone Idea, RBL Bank and SAIL are the only stocks in the F&O ban period today.