Stocks to watch: Infosys, HCL Tech, Maruti Suzuki, RITES, Vedanta, Plaza Wires and others

Stocks to watch: At around 8:10 a.m. on Friday, October 13, the GIFT Nifty futures traded 155.05 points or 0.78 per cent lower at 19,687 suggesting a negative opening of the market. 

Equity indices Sensex and Nifty ended in red on Thursday, October 12, snapping the two-day winning streak dragged by Information Technology (IT) stocks on weak earnings by Tata Consultancy Services. The S&P BSE Sensex ended 64.66 points or 0.1 per cent lower at 66,408.39 and NSE Nifty settled 17.35 points or 0.09 per cent lower at 19,794.

On the day when, the benchmark indices slid, Infosys and HCL Technologies and Infosys announced their Q2 results. 

ZeeBiz will take you to the list of stocks that will be on focus on Friday (October 13).

Results today, October 13: HDFC Life, Aditya Birla Money, Tata Steel Long Product, Som Distilleries & Breweries will announce their result for the second quarter (Q2FY24) today and Sai Silks (Kalamandir) will announce its Q1FY24 result. 

Infosys: Tech giant Infosys reported its second-quarter results on Thursday (October 12), reporting a jump of 4.5 per cent in its profit after tax (PAT) on a sequential basis, to Rs 6,212 crore from from Rs 5,945 crore in the previous quarter.

The company's revenue from operations for the July-September period jumped 2.80 per cent, to Rs 38,994 crore from Rs Rs 37933 crore in the first quarter of the current financial year (FY24). 

The Bengaluru-headquartered IT firm has trimmed its guidance for revenue growth to 1-2.5 per cent for the 2023-24 financial year in constant currency terms, from 1-3.5 per cent in the previous quarter.

HCL Technologies: HCL Technologies announced its second-quarter result on Thursday (October 12), reporting a rise of 8.34 per cent in profit after tax sequentially, to Rs 3,832 crore in the July-September quarter from Rs 3,534 crore in the previous quarter of the current financial year.

The company's revenue from operations, meanwhile, jumped 1.43 jump sequentially, to Rs 26,672 crore in Q2 from Rs 26,296 crore in the first quarter of FY24.

The company also announced an interim dividend of Rs 12, or 600 per cent, of the face value of Rs 2 per equity share.

The record date for the interim dividend will be October 20, 2023, while the payment date, or ex-date for it will be October 31, 2023.

Maruti Suzuki India: The board of the country's largest carmaker is scheduled to meet on October 17 to consider the issuance of shares to Suzuki Motor on a preferential basis.

Dr Reddy's Laboratories (DRL): The pharmaceutical company received nine observations from the US Food and Drug Administration (FDA) after the American drug regulator completed a product-specific inspection at the company's biologics manufacturing facility in Bachupally, Hyderabad. The inspection was conducted from October 4 to October 12.

The company said it would address the observations within the stipulated timeline.

Vedanta Ltd: Vedanta said on Friday that its wholly owned subsidiary, Vedanta Iron And Steel Limited, has been incorporated on October 10, 2023.

The subsidiary is into the business of iron and steel and Vedanta will hold 100 per cent shares in it. 

SJVN: The company said on Thursday that it been received on October 6 at a tariff of INR 2.62/Unit for the development of 100 MW Solar Power Project to be situated anywhere in the state of Rajasthan.

The solar project shall be developed on Build Own and Operate (BOO) basis.

The tentative cost of construction/development of this project is around Rs 600 crore.

"The project is expected to generate about 252 MUs in the 1st year and the cumulative energy generation over a period of 25 years would be about 5866 MU," said the company in a statement.

GMR Airports Infrastructure Ltd: Domestic airline passenger numbers for the period spanning January to September soared to 1,128.62 lakh, showcasing a substantial increase from the 874.24 lakh recorded during the same period the previous year, said the aviation watchdog, DGCA, official.

Panacea Biotec: The USFDA conducted an inspection in the company’s subsidiary, Panacea Biotec Pharma Limited, at Baddi, Himachal Pradesh, India between October 3, 2023 and October 12, 2023. Nine observations are issued related to existing procedures.

Mphasis Ltd: The company's subsidiary, Maphasis Corporation acquired Sonic Partners LLC, USA. Sonic Partners LLC does business under the name of Silverline.

BGR Energy System: The company received orders worth Rs 113 crore from Mangalore Refinery and Petrochemicals.

IRCON International and RITES Ltd: Companies were listed under Navratna companies.

Zaggle Prepaid Ocean Services: The company signed a growth agreement with VISA. The deal amounts to around Rs 166 crore in the next five years.

Anand Rathi Wealth: Leading non-bank wealth solutions company Anand Rathi Wealth on Thursday reported a 34 per cent increase in profit after tax at Rs 58 crore for the three months ended September. In comparison, it had posted a profit after tax of Rs 43 crore in the year-ago period, Anand Rathi Wealth, part of Mumbai-based financial services group Anand Rathi, said in a statement.

Angel One: Angel One on October 12 reported a 42.5 per cent year-on-year jump in consolidated net profit to Rs 305 crore for the quarter that ended September 2023, compared to Rs 214 crore in the year-ago period.

The discount broker's consolidated revenue for the quarter rose by 40.8 percent, reaching Rs 1,048 crore, compared to Rs 745 crore in Q2 FY23. The EBITDA margin remained largely stable at 40.06 per cent.

Kesoram Industries: Kesoram Industries Limited, the flagship company of B K Birla group, posted a reduction in its consolidated loss at Rs 58 crore against a loss of Rs 59 crore year-on-year. The revenue of the company stood at Rs 954 crore against  Rs 845 crore, up 13 per cent. 

360 ONE WAM LIMITED: MORGAN STANLEY INVESTMENT FUNDS sold 24.42 lakh shares at Rs 511.20 per share. On the flip side, NORGES BANK (GOVERNMENT PENSION FUND) bought 32.75 lakh shares at Rs 511.20 per share.

Plaza Wires Limited: 360 ONE PRIME, NAVI FINSERV, STCI PRIMARY DEALER Ltd, and THE FEDERAL BANK sold a stake in the company whereas, SARAVANA SECURITIES bought 4.09 lakh shares.

(With inputs from PTI)

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