Market Highlights, July 12: Sensex up 622pts, ends atop 80,500; Nifty holds 24,500; IT stocks dazzle

Stock Market Highlights on Friday, July 12, 2024: TCS shares soared nearly 7 per cent today after it posted better-than-expected June quarter (Q1) results. Infosys, Tech M, and HCL Tech followed suit

SI Reporter New Delhi

9:44 AM

RCF zooms 7% on purchase order worth Rs 500 crore

>> Places a purchase order worth Rs 514 crore. The order is to revamp its ammonia plant in Thal, Maharashtra.

9:36 AM

Azad Engineering rises nearly 5% on winning contract from Siemen Energy Global

>> Received a five-year contract from Germany's Siemens Energy Global for the supply of rotating components for Siemens' gas and thermal turbine engines.

9:34 AM

GTPL Hathway slips 1.6% on weak Q1 results

>> Net profit down 73.3 per cent year-on-year to Rs 14.2 crore.

>> Revenue up 8.9 per cent year-on-year to Rs 843.3 crore.

>> Ebitda down 5 per cent year-on-year to Rs 113.1 crore. Ebitda margin narrows by 200 basis points to 13.4 per cent from 15.4 per cent.

>> Subscription revenue up 7 per cent to Rs 319.3 crore. Digital Cable TV active subscribers up 6 per cent to 96 crore.

9:32 AM

Adani Wilmar forays into specialty chemical biz; stock rises 1%

>> The company is set to acquire a 67 per cent stake in Omkar Chemical Industries, a specialty chemicals company.

>> Acquisition done for an enterprise value of Rs 56.25 crore and is likely to be completed in the next 3-4 months.

9:30 AM

Aditya Birla Fashion raises stake in Goodview Fashion; stock up 1%

>> ABFR: increased its stake in Goodview Fashion Pvt. Ltd. to 51 per cent from 33.5 per cent for Rs 127 crore.

>> Goodview Fashion manufactures and sells ethnic couture under the Tarun Tahiliani brand.

9:27 AM

Affle (India) up 1.5% on winning new patent rights

>> The mobile marketing platform received a patent in the US titled 'Method and System' for enabling an interaction between user and podcast'.

>> This patent is related to the field of optimising user engagements by enabling an interaction between a user and a podcast using a podcast interaction system based on machine learning.

9:26 AM

Jio Financial Services rises over 1.5% on RBI nod to become investment company

9:24 AM

TCS advances over 2%, trades as top gainer post robust Q1 show

>> TCS recorded net profit of Rs 12,040 crore, up 8.7 per cent year-on-year, dollar revenue up 2.7 per cent sequentially to $7.5 billion.

>> Constant currency revenue growth of 2.2 per cent sequentially, higher than expectations of 1.5 per cent.

>> Total deal wins at $8.3 billion. EBIT margin narrows by 130 basis points from March to 24.7 per cent but higher than the estimate of 24.5 per cent.

>> Management reiterated that FY25 will be better than FY24