Handy futures on the Singapore Exchange traded 278 points, or 1.61 percent lower at 17,036, indicating Dalal Street was off to a negative start on Monday. Here are a dozen stocks that may be buzzing the most in today’s trading:
Stocks in focus on October 10
Tata Consultancy Services (TCS)
The IT major will be sharp for September 2022 quarterly earnings. Experts believe TCS will continue its revenue growth momentum, while operating margins are likely to improve due to the impact of the wage increase seen in the first quarter. TCS shows healthy growth in all branches. Failure rate, EBIT margin outlook, Rupee depreciation advantage and deal winning are some of the key things to look out for.
The IT company plans to hire 1,300 people in Mexico over the next two years. The move is expected to bolster that country’s current workforce of 2,400 people.
Star Health and Allied Insurance Company
The company posted gross direct premium of Rs 5,655.1 crore for the quarter ended September 30, 2022, up 12 percent from a year ago, with the health retail segment registering a 21 percent year-over-year growth at Rs 4,306.4 crore.
Kamal K. Sharma, non-executive vice chairman of the company, will retire from the company’s board of directors effective October 14, 2022.
The Housing Development Finance Corporation will raise up to Rs 12,000 crore by issuing bonds on a private placement basis. The size of the basic issue is Rs 1,000 crore with an option to keep a subscription of up to Rs 11,000 crore, it said in a regulatory filing for shares. The secured redeemable non-convertible bonds (NCDs) bear a coupon rate of 8.07 percent per annum for a 10-year term.
The Government of India has appointed KPMG India as transaction advisor and Link Legal as legal advisor to provide advisory services and manage the transaction of the sale of shares in IDBI Bank. The government and LIC of India are each planning to sell just over 30 percent of the shares in IDBI Bank. The government, which has requested an expression of interest from the bidders, has a 45.48 percent and LIC 49.24 percent stake in the bank.
Jaguar Land Rover sold 88,121 vehicles in the quarter ended September, up 11.8 percent from the previous quarter, but down 4.9 percent from the same period last year. Compared to the first quarter, retail sales were higher in China (up 38 percent), North America (up 27 percent) and Overseas (up 14 percent), but lower in the UK (down 7 percent) and Europe ( 10 percent lower). In the first half of FY23, the company saw a 23.2 percent decline in sales volume at 1.66 lakh vehicles year on year. The total order book in Q2FY23 has grown by 5,000 vehicles to 2.05 lakh vehicles from the previous quarter.
Power Grid Corporation of India
Subsidiary POWERGRID Bhind Guna Transmission has successfully commissioned the transmission system in Madhya Pradesh. The subsidiary has been commissioned to set up a transmission system for intra-state transmission works related to the construction of a 400 kV substation at Guna and a 220 kV substation at Bhind on a build, own, operate and maintenance basis.
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