Last updated: July 12, 2023, 8:29 AM IST
Stocks to watch on July 12: Handy futures traded 9 points, or 0.05 percent, lower at 19,528, indicating that Dalal Street was off to a negative start on Wednesday. Here’s a slew of stocks that will be in the spotlight today for a variety of reasons.
Results today: 5Paisa, Hathway Cables, HCL Technologies, Steel Strips Wheels and TCS are among the 10 companies set to report June quarterly results on Wednesday.
TCS: Wage hikes to squeeze margin in Q1FY24; The weakness may be due to a deteriorating demand environment, leading to project cancellations and delays, a longer sales cycle and slower revenue conversion.
HCL technology: The IT company is likely to report moderate sequential revenue growth for the June quarter (Q1FY24) amid a continued weak global demand environment and weakness in its engineering and R&D (ER&D) activities, according to analysts.
Delta Corp, Nazara Technologies: The Goods and Services Tax (GST) Council on Tuesday approved imposing a uniform tax of 28 percent on the full “face value” of online gaming, casino and horse racing bets. Industry stakeholders argued that games of skill are treated differently from games of chance for tax purposes.
SpiceJet: Aviation watchdog DGCA has placed SpiceJet under “enhanced scrutiny” amid the budget airline facing multiple financial headwinds in recent months, PTI reported, but the airline refuted such a development.
Bharti Airtel: The company has entered into an agreement to purchase a 20.6 percent stake in Lavelle Networks. The company already owns a 25 percent stake in Lavelle.
Adani Group: The Supreme Court on Tuesday adjourned the hearing in the Adani-Hindenburg case to August 14. The Securities and Exchange Board of India (Sebi) is to complete its investigation into the matter by that date.
Meanwhile, Gautam Adani’s flagship company Adani Enterprises has raised Rs 1,250 crore through the issuance of non-convertible bonds on a private placement basis.
greaves cotton: “Greaves Electric Mobility Private Limited, (GEMPL), the e-mobility division of Greaves Cotton, has achieved a total of 200,000 secondary sales of its “Ampere” brand electric two-wheelers through the first quarter of fiscal year 2024.
Happiest Spirits: The company’s board of directors will meet on July 14 to consider and approve the issue price, including any discount, for shares allocated to Qualified Institutional Buyers (QIBs).
she-wolf: The company’s Pithampur Unit-2 plant has received the Establishment Inspection Report (EIR) from the US FDA.
Tatva Chintan Pharma: The board of directors of the company has approved the fundraising up to Rs 200 crore.
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