TCS, Delta Corp, IDFC First Bank, TVS Motor, Eicher Motors and Bajaj Auto among top stocks to track today

Stocks to watch: At around 8:09 a.m. on Wednesday, October 11, the GIFT Nifty futures traded 47.5 points, or 0.24 per cent, higher at 19,793.5, suggesting a flat-to-positive start to trading on Dalal Street.

Benchmark indices Sensex and Nifty rallied nearly 1 per cent on Tuesday following gains in financials, auto, and IT shares after recent sharp losses and positive global trends.

The earnings season will officially begin today, and the country's leading IT companies, Tata Consultancy Services (TCS), Delta Corp., and Samhi Hotels, among others, will announce their quarterly results later in the day.

ZeeBiz takes you through the stocks that can grab the headlines on Wednesday. 

TCS: The K Krithivasan-led company is slated to release its financial results for the quarter ended September 30, 2023, on Wednesday, October 11.

The company will also consider the proposal for the buyback of its equity shares on the same day. 

Nirmal Bang Securities expects TCS' revenue to come in at Rs 60,859.1 crore, up 10 per cent year-on-year (YoY) and 2.5 per cent on a sequential basis. In US dollar terms, revenue is seen at $7,346 million, up 1.7 per cent QoQ.

Samhi Hotels: Samhi Hotels, which made its debut on the BSE and the NSE in September, will also announce its quarterly results on Wednesday.

The company's stock closed 4.96 per cent higher at Rs 162.95 on BSE on Tuesday. 

Delta Corp: The company involved in gaming and hospitality, is also set to report its quarterly results on Wednesday. 

IDFC First Bank: CRISIL on Tuesday assigned its rating ‘CRISIL AA+/Stable’ to the Tier-II bonds (under Basel III) of IDFC First Bank Bank amounting to Rs 3,000 crores.

CRISIL has also reaffirmed its rating CRISIL AA+/Stable’ and ‘CRISIL A1+’ to the Tier-II bonds (under Basel III) of the bank amounting to Rs 5,000 crores and certificate of deposits amounting to Rs 45,000 crore, respectively, IDFC First Bank said in a statement on Tuesday. 

PVR-Inox: PVR-Inox said on Tuesday that the National Company Law Tribunal (NCLT), Mumbai, has allowed the scheme of amalgamation of Shouri Properties Private Limited under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.

In this regard, the Hon’ble NCLT, Mumbai Bench, uploaded on October 10 the detailed order dated October 4, 2023, allowing the said scheme on its website, said PVR-Inox in a statement. 

MCX: The company will shift to a new technology platform from October 16. Zee Business was the first to report about the shift next week.

Bank of Baroda: The Reserve Bank of India (RBI) has banned adding new customers to the 'BOB World' mobile app. There are supervisory concerns regarding customer onboarding. On the other hand, the bank has said that the platform is secure and there will not be any impact on the existing customer.

Bajaj Auto/Eicher Motors: As per reports, Triumph Motorcycles revealed the price of the Scrambler 400X in India. The price of Scrambler 400X starts at Rs 2.63 lakh.

NCL Industries: In the monthly business update, the company said it recorded cement sales up 11 per cent to 6.69 lakh MT year-on-year YoY. Cement production was up 9 per cent to 6.59 Lk MT YoY.

Thermax: Bombay High Court has stayed the award of the arbitral award to the client. The company will have to deposit Rs 218.45 crore, which is returnable with interest.

Laxmi Organic: Qualified Institutional Placement (QIP) issue price is fixed at Rs 269.20 per share. The issue price is at a 4.97 per cent discount to the floor price, which was 283.27 per share.

Autoline Industries: The board will consider raising funds through preferential issues in a meeting on October 13.

Venus Pipes & Tubes: BNP Paribas Arbitrage sold 2.75 lakh shares at 1234.21 per share. 

Birla Corporation: The company has received an order from the Office of Collector (Mining) Madhya Pradesh imposing a penalty of Rs 8,42,86,858 for excess production of limestone from captive mining for the period from 2000-01 to 2006-07 without obtaining environment clearance as per EIA Notification 1994.

EIH Associated Hotels: The firm said Shib Sanker Mukherji has resigned as its chairman and director with effect from October 10, 2023, due to personal reasons.

Tata Chemicals, DCW, and GHCL: Soda ash prices will increase by 5 per cent in India next week. The plants of big companies in China will remain closed for three more months. Soda ash prices in China increased by nearly 50 per cent in the last 2.5 months.

TVS Motor: After Escorts Kubota, DAM Capital has raised the target on TVS Motor to Rs 3,051.

KPIT Tech: Goldman Sachs has maintained a 'buy' call on the stock and has raised the target to Rs 1,420 apiece.

Nippon Life: HSBC has maintained a 'buy' call on the stock and has raised the target to Rs 380 apiece.

HDFC AMC: HDFC AMC MD and CEO Navneet Munot has been appointed as the new chairman of AMFI. The appointment will be effective on October 16, 2023.

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