Stocks to watch: HCL Tech, Torrent Power, Rallis India, Tata Elxsi, Infosys

By Administrator_India

Capital Sands

Nifty futures on the SGX traded 93 points lower 14,309, indicating a gap-down start for benchmark indices on Friday.

Here are the top stocks to track today:

Earnings Today: HCL Tech, IB Realty, M&M Financial Services are among 16 firms slated to post their March quarter numbers today.

Analysts expect HCL Tech’s March quarter PAT to fall between 26-31% on account of one-time bonus impact although they eye a growth in the revenue, led by contribution from DWS Limited – a leading Australian IT, business and management consulting firm that HCL Tech acquired recently – demand in areas of digital foundation projects and improving traction in ER&D segment.

Future Retail, Future Enterprises: A BS report stated that lenders to Kishore Biyani’s Future Group will withdraw the just-approved debt recast plan that offered easier repayment options, if the troubled retailer’s Rs 24,713 crore asset sale to Reliance Industries Ltd (RIL) goes through in a reasonable time frame. READ HERE

Rallis India: The company on Thursday reported a consolidated profit after tax (after exceptional items) of Rs 8.12 crore for the March quarter. The company’s consolidated PAT stood at Rs 68 lakh during the corresponding period of 2019-20.

Torrent Power: The firm said it will set up a 300 MW capacity solar power plant in Gujarat at an estimated cost of Rs 1,250 crore.

Dish TV: Subhash Chandra, whose Zee Group was rescued by Dish TV owner Jawahar Goel in 2018 when he extended his personal holdings in the direct-to-home firm to be pledged by Zee to raise bank loans, on Thursday said he would soon be returning the shares released by the lenders to his younger brother.

IndiGrid: Infrastructure investment trust IndiGrid on Thursday announced a public issue of non-convertible debt securities to raise up to Rs 1,000 crore. The issue will open on April 28 and close on May 5, IndiGrid said in a BSE filing.

Tata Elxsi: The company said its net profit has increased 40.3 per cent YoY to Rs 115.16 crore in the March 2021 quarter. The company had registered a net profit of Rs 82.08 crore in the year-ago period, Tata Elxsi said in a regulatory filing.

Gland Pharma: The company said it has received approval from the US health regulator for its generic Foscarnet Sodium injection indicated for treatment of cytomegalovirus retinitis in patients with AIDS.

Cyient: IT firm Cyient on Thursday said its net profit has grown by 46.8 per cent YoY to Rs 110.7 crore for the March 2021 quarter. The Hyderabad-based company had posted a net profit (normalised) of Rs 75.4 crore in the year-ago period.

Indus Towers: The company reported a 38 per cent YoY rise in consolidated net profit to 1,364 crore for the fourth quarter of FY21, and said digital transformation across sectors is driving new opportunities for shared infrastructure providers to usher in the next growth phase.

Infosys: Global energy giant BP and IT leader Infosys on Thursday announced signing of a pact to work together to develop an integrated Energy-as-a-Service (EaaS) offering that will provide end-to-end management of a customer’s energy assets and services.

Tata Motors: JLR is currently experiencing some Covid-19 supply chain disruption. As a result, JLR have adjusted production schedules for certain vehicles which means that the Castle Bromwich and Halewood manufacturing plants will be operating a limited period of non production from Monday, April 26. Manufacturing continues at the Solihull plant.