Stocks To Watch on April 15: Equity indices closed the last week on a low, spooked by US inflation data. Going forward, stock specific actions are likely to continue with the Q4 results season underway. In today’s trade, shares of TCS, Anand Rathi, Aster DM, Bharti Hexacom, Varun Beverages among others will be in focus due to various developments and quarterly earnings.
Results today: Nine companies scheduled to report earnings today, including GTPL Hathway, Bhawani Cable and Rajoo Engineers.
TCS: The IT major reported a net profit of Rs 12,434 crore, up 9.1 per cent year-on-year (Y-o-Y) on Friday post market hours. Sequentially, profit grew 6 per cent. Revenue for the quarter was up 3.5 per cent Y-o-Y at Rs 61,237 crore, and up 1 per cent QoQ. The company signed one of its highest total contract values (TCV) – $13.2 billion – in the fourth quarter of FY24.
LIC: The state-run insurance giant has witnessed 59 per cent increase in value of investments in Adani Group stocks. Last year, LIC faced intense scrutiny over its decision to invest in the Adani group post the Hindenburg report.
Tamilnad Mercantile Bank (TMB): The Reserve Bank of India has rejected the names of the candidates proposed by the bank for the position of managing director (MD) and chief executive officer (CEO).
Anand Rathi Wealth: Q4net profit rose 33 per cent YoY to Rs 56.60 crore. Revenue from operations grew by 29 per cent to Rs 184.30 crore.
General Insurance Corporation of India (GIC Re): Ramaswamy Narayanan, Chairman and Managing Director, expects up to 10 per cent stake sale in the public sector reinsurer after the general elections.
Hindustan Aeronautics (HAL): In what could be the government’s largest-ever purchase of indigenously-built military equipment, the Ministry of Defence (MoD) has issued HAL a request for proposal (RfP) for 97 Tejas Mark 1A fighter aircraft. HAL has three months time to respond with a detailed proposal.
Ami Organics: Broad approved a proposal to raise up to Rs 500 crore via Qualified Institutional Placement (QIP) route.
Varun Beverages: Varun Beverages has started commercial production of carbonated soft drinks and energy drinks at its production facility at Gorakhpur.
Bharti Hexacom: Bharti Hexacom said its directors Sanjeev Kumar and Surajit Mandol resigned from the company’s board due to termination of shareholders agreement post the IPO.
Aster DM: Aster DM Healthcare’s board has declared a special dividend of Rs 118 per share for the financial year ended 2023-24.
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