 "Markets, Sensex, Nifty, Stock markets")
Stocks to Watch on Thursday, July 13, 2023: The markets are likely to start trade on a positive note on Thursday, tracking upbeat global cues as US inflation cooled down to 3 per cent, its slowest growth in more than two years. Back home in India, CP-based inflation rose to a three-month high to 4.8 per cent in June, while IIP rose to 5.2 per cent in May.
Overnight in the US, Nasdaq rallied over a per cent, the S&P 500 gained 0.7 per cent and Dow Jones was up 0.3 per cent. Closer home, Hang Seng surged 2 per cent. Nikkei and Taiwan jumped over a per cent each.
At 07:30 AM, the GIFT Nifty futures quoted at 19,557, indicating a gap-up of more than 50 points on the Nifty 50.
Meanwhile, these stocks are likely to see some action in trade on Thursday.
TCS: The IT major reported a 2.7 per cent quarter-on-quarter (QoQ) decline in net profit at Rs 11,074 crore for the June 2023 quarter as against Rs 11,392 crore in the preceding quarter. Revenue during the quarter was up merely 0.3 per cent QoQ, making it the slowest June quarter growth in a decade. READ MORE
HCLTech: The Noida-based IT services major posted a 11.3 per cent QoQ drop in Q1 net at Rs 3,534 crore, while revenue was down 1.2 per cent QoQ at Rs 26,296 crore. Meanwhile, the firm has maintained its revenue growth guidance of 6-8 per cent in constant currency terms for FY24. READ MORE
Results today: AngelOne, Aditya Birla Money, Compuage Infocom, Federal Bank, Sterling and Wilson Renewable Energy Tata Metaliks, Unitech and Wipro among 19 companies scheduled to announce June quarter earnings on Thursday.
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HDFC Bank: The merged entity with a market cap of Rs 12.5 trillion, will be the second-most valued firm after Reliance (Rs 18.5 trillion). However, the bank will dislodge Reliance as the biggest weight in the Nifty 50 and Sensex. READ MORE
Delta Corp, Nazara Technologies: Shares of online gaming firms are likely to be in focus for the second day running, especially Delta Corp following the massive 23 per cent fall on Wednesday, after the GST Council imposed a 28 per cent levy on entire turnover. Meanwhile, in an interview with Business Standard, Revenue Secretary Sanjay Malhotra has ruled out any move for a review or roll-back. READ INTERVIEW
Hindalco: The company's board has approved a proposal to sell land situated in Maharashtra. The deal could be worth near about Rs 6,000 crore.
SpiceJet: The low-cost airline on Wednesday said its promoter Ajay Singh has decided to infuse Rs 500 crore in the airline by subscribing fresh equity shares and/or convertible instruments.
Patanjali Foods: The promoters plan to offload up to 9 per cent stake through an OFS, with an aim to fulfill the minimum pubic shareholding norm. The floor price for the OFS has been set at Rs 1,000 per share, at 18.4 per cent discount to the last close. READ MORE
Vedanta: The company will enter the market for the manufacturing of chips and displays this year, group chairman Anil Agarwal said on Wednesday, days after its joint-venture partner Foxconn pulled out of the $19.5 billion chipmaking project.
Deep Industries: The company has won an order worth Rs 1,300 crore from ONGC.
Future Enterprises: The debt-ridden firm has received expressions of interest (EoIs) from Jindal (India), Reliance Retail Ventures, and GBTL, the company said in its stock exchange filing.
Tyre stocks: India’s tyre demand is expected to grow 6-8 percent in Financial Year 2023-24 (FY24) due to replacement and the needs of original equipment manufacturers (OEM), said rating agency Icra in a recent report.
Stocks in F&O ban: Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram Finance, PNB and Zee Entertainment are the six stocks in F&O ban period on Thursday.
