Home Energy services Stocks to watch: TCS, Adani Energy, Infosys, India Cements, Bajaj Auto

Stocks to watch: TCS, Adani Energy, Infosys, India Cements, Bajaj Auto


Here is the list of the 10 main actions that will be in the spotlight today:

Tata Consulting Services: TCS net profit for Q2 FY23 increased by 8% for 10,431 crore from the prior year quarter and the company also declared a second interim dividend of 8 per share. Shares of TCS closed nearly 2% higher at 3,121 each on BSE ahead of its second-quarter results. TCS said it saw some softness in long-term decision-making after India’s top information technology exporter reported a bigger-than-expected rise in second-quarter profit today.

Vent Stainless/Green Adani: Inox Wind, through its subsidiary Inox Green Energy Services Limited (IGESL), has sold its entire equity interest in three Special Purpose Vehicles (SPVs) — Wind One Renergy Ltd, Wind Three Renergy Ltd and Wind Five Renergy Ltd to Adani Green Energy Limited, part of the Adani Group. After the transaction, IGESL will provide long-term operation and maintenance services for these projects.

Infosys: India’s second-largest IT services provider, Infosys Ltd, will consider a takeover proposal at its board meeting on October 13, the company has informed the exchanges. The outcome of the board meeting will be released to stock exchanges after the close of the board meeting on Oct. 13, 2022, the company said. Infosys will also report its financial results for the September quarter (Q2FY23) on October 13. The company’s board will also consider its first interim dividend for FY23.

Bajaj Auto: Bajaj Auto Ltd announced on Monday that it has repurchased more than 64 lakh shares from public shareholders for 2,499.97 crore as part of its share buyback exercise. The company, which began buying back shares on July 4, 2022, said its buyback committee at its meeting on Monday approved the completion and closing of the financial year from October 10, 2022. In a regulatory filing, Bajaj Auto said it purchased back 64,09,662 shares, using a total amount of 2,499.97 crore.

Adani Ports: Adani Ports and Special Economic Zone Ltd, India’s largest ports and logistics company, announced on Monday that it has received approval from the National Company Law Tribunal (NCLT) to acquire the remaining 58.1% stake in Gangavaram Port Limited. With this acquisition, GPL will become a 100% subsidiary of Adani Ports and Special Economic Zone Ltd (APSEZ).

India Cements: India Cements Ltd announced on Monday that it has entered into an agreement to sell its entire stake in Springway Mining Private Limited (SMPL) to JSW Cement for a total consideration of 476.87 crores. SMPL owns limestone land in Panna district and is in the process of setting up a cement plant in Damoh district in Madhya Pradesh. Therefore, SMPL ceased to be a wholly owned subsidiary of ICL, he added.

GVK Food and Infrastructure: GVK Power & Infrastructure said the National Company Law Court (NCLT) in Hyderabad on Monday admitted an insolvency petition filed by Axis Bank against its subsidiary GVK Power (Goindwal Sahib) Ltd. GVK Power (Goindwal Sahib) Ltd owns a 540 MW (2X270 MW) coal-fired power station near the village of Goindwal Sahib in the Tarn Taran district of Punjab. Its Unit 1 was commissioned on April 1, 2016, while Unit 2 was made operational on April 14, 2016.

Panacea Biotech: Biotechnology company Panacea Biotec announced on Monday that it has placed a long-term supply order worth $127.3 million (more 1,040 crore) from UNICEF and the Pan American Health Organization for the supply of its pentavalent Easyfive-TT vaccine. UNICEF’s order is for US$98.755 million (approximately 813 crore) for the supply of 99.7 million doses in calendar years 2023-2027, Panacea Biotec said in a statement.

NMDC: State-owned mining giant NMDC left lump ore prices and fines unchanged for the third time in a row. In a regulatory filing on Monday, NMDC said it set lump ore prices at 4,100 per ton and that of fines at 2,910 per ton as of October 8, 2022. Iron ore is one of the main raw materials used in the manufacture of steel. Any movement in ore prices has a direct impact on steel prices, which has been of concern to user industries for several months.

JSW Steel: JSW Steel reported 12% year-over-year growth in its combined steel production to 5.68 million tonnes (MT) in the quarter ended September 2022. During the period of the previous year, its combined steel output was 5.07 MT, JSW Steel said in a statement. “JSW Steel announced that its group’s combined crude steel production was 5.68 million tonnes, recording 12% year-on-year growth, including production from jointly controlled entities,” it said. -he declares.

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