Stocks to watch, July 12: TCS, M&M, Affle, Nazara Tech, ABFRL, Anand Rathi

Stocks to watch on July 12: 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

Stocks to watch on Friday, July 12, 2024: Indian bourses are staring at a bullish open on the weekend, despite weak trends in global peers. The GIFT Nifty futures indicate a near gap-up start, as they quoted 94 points higher to Nifty 50 futures at 24,476.

Asia-Pacific markets were largely in red on Friday morning, with Japan’s Nikkei 225 index experiencing a decline of 2.08 per cent. The drop followed three consecutive days of setting new closing highs. The broader Topix index also saw a retreat, falling by 1.04 per cent during the same trading session.

South Korea’s Kospi declined by 0.94 per cent, while the small-cap Kosdaq index slipped by 0.19 per cent.

 

In Australia, the S&P/ASX 200 index performed positively by rising 0.23 per cent on Friday. 

Overnight in the US, The S&P 500 fell 0.88 per cent from a session high, while the Nasdaq Composite dropped 1.95 per cent after hitting a new record earlier, largely due to Nvidia's more than 5 per cent decline. In contrast, the Dow Jones Industrial Average edged up 0.08 per cent.

Meanwhile, domestically below are some buzzing stocks to watch on Friday: 

TCS: 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.

Mahindra and Mahindra: Reported total production at 69,045 units, up 8 per cent year-on-year; total sales up 11 per cent year-on-year at 66,800 units; total exports up 4 per cent year-on-year at 2,597 units for Q1CFY. It reduced its stake in Switzerland's Gamaya from 15.04 per cent to 4.33 per cent due to a shareholding reorganisation.

Affle (India) Ltd.: 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 optimizing user engagements by enabling an interaction between a user and a podcast using a podcast interaction system based on machine learning. 

Infosys: Received a contract from the Delaware Department of Labour for upgrading its legacy systems.

Prestige Estates: Sales during the June quarter at Rs 3,029 crore, down from Rs 3,914 crore year-on-year. Sales volume at 2.86 million square feet from 3.83 million square feet year-on-year. Total units sold at 1,364. Average realisation up 16 per cent year-on-year to Rs 11,934 per square foot. Plots saw average realisation of Rs 7,285 per square foot, up 46 per cent year-on-year. Collections for the quarter up 6 per cent year-on-year to Rs 2,916 crore. Sales crossed Rs 3,000 crore despite lag in approvals and new launches.

Aditya Birla Fashion and Retail: 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.

Adani Wilmar: 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. 

Nazara Technologies: Nodwin Singapore, a unit of Nazara Technologies, acquired an additional 43.5 per cent stake in Freaks 4U Gaming for Euro 23.45 million. This acquisition made Freaks 4U a step-down subsidiary of Nazara Technologies.

Anand Rathi Wealth: Net profit up 37.9 per cent to Rs 73.2 crore. Revenue up 35.8 per cent to Rs 237.6 crore. EBITDA up 33.8 per cent to Rs 98.2 crore. EBITDA margin at 41.3 per cent from 41.9 per cent. AUM up 59 per cent year-on-year to Rs 69,018 crore. MF revenue increased by 70 per cent to Rs 89 crore. Number of active client families in private wealth business increased by 19 per cent to 10,382. Management said that the company has the potential to grow 20-25 per cent in the long-term.

GTPL Hathway: 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.

Oriental Rail Infra: Arm Oriental Foundry gets an order worth Rs 432 crore for the manufacture and supply of 1,200 BCVM-C wagons from the Indian Railways.

Hindustan Zinc: Received renewable power from Serentica’s 180 MW solar project.

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

Allcargo Terminals: Reported CFS volumes for the month of June at 55.9 thousand TEUs, up 20 per cent year-on-year.

Vodafone Idea: Shareholders approved the issuance of preferential shares. The company received notice from ATC Telecom Infra for the conversion of OCDs worth Rs 160 crore into shares.

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