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Business News/ Markets / Stock Markets/  Stocks to Watch: Maruti, Tata Motors, BoB, Delta Corp, ITC, Adani Enterprises

Stocks to Watch: Maruti, Tata Motors, BoB, Delta Corp, ITC, Adani Enterprises

Tata Consultancy, HCL Tech, Anand Rathi Wealth, 5paisa Capital, and Steel Strips Wheels will be among the stocks in focus as they will be declaring their quarterly earnings results today.

Stocks to Watch for Wednesday (iStock)Premium
Stocks to Watch for Wednesday (iStock)

Here are the top 10 stocks that could be in focus in today's trade:

Maruti Suzuki/M&M/Tata Motors: The tweak in the definition of an SUV for attracting a cess over and above the GST rate will provide clarity on the taxation structure for utility vehicles, ensuring that the rate entry is more precise leaving little room for interpretation on the ambit of ground clearance, auto industry experts said on Tuesday. The Goods and Services Tax (GST) Council decided that the definition of an SUV will include only the length (4 metres and above), engine capacity (1,500 cc and more), and ground clearance (unladen ground clearance of 170 mm and more).

Bank of Baroda: India’s second largest state-owned lender Bank of Baroda on Tuesday denied its officials used the phone numbers of strangers to inflate registrations on its mobile banking app Bob World. A report by Al Jazeera alleged that bank officials linked bank accounts to unrelated mobile numbers in order to achieve stiff onboarding targets. The report cited internal emails of the bank to state that branches were asked to conduct a “discreet inquiry" into the issue and to recommend whether those mobile numbers should be withdrawn.

Delta Corp/Nazara Tech: The Goods and Services Tax (GST) Council on Tuesday levied a 28% uniform GST on online gaming, horse racing, and casinos on the full value of the bets. In the case of online gaming, horse racing, and casinos, a vexed issue on which ministers consulted extensively, the council recommended amendments to the law to specify a 28% tax on all three categories at their full face value. “Simply put, online gaming, horse racing, and casinos will be taxed at 28% and will be taxed on full face value," Sitharaman said.

ITC: ITC Ltd’s board has recommended the reappointment of Sanjiv Puri as chairman and managing director for an additional period of five years with effect from 22 July 2024. Puri will complete his current term as managing director on 21 July 2024. ITC has proposed a resolution seeking Puri’s reappointment during the company’s 112th annual general meeting to be held in August, the company said in its annual report released on Tuesday.

Adani Enterprises: Adani Enterprises announced on July 11 that it has raised 1,250 crore through the allotment of non-convertible debentures (NCDs). “We would like to inform that the company has raised Rs. 1,250 crore today i.e. 11th July 2023 by allotment of 125,000 Secured, Unrated, Unlisted, Redeemable, Non-Convertible Debentures (“NCDs") of the face value of 1,00,000/- each on private placement basis," said the Adani Group's flagship firm in a regulatory filing to the stock exchanges.

L&T: Larsen & Toubro on Tuesday said it has signed the Master Shipyard Repair Agreement with the US Navy to further strengthen the partnership between the two countries in the defence sector. L&T's Kattupalli Shipyard, near Chennai, a major node in the Southern Defence Corridor, has been undertaking voyage repairs of the Military Sealift Command vessels, the firm said in a statement. After an elaborate assessment by the US Navy and the Military Sealift Command, the shipyard qualified for the Master Shipyard Repair Agreement (MSRA).

Happiest Minds: IT services business Happiest Minds Technologies Ltd launched a 400 crore Qualified Institutional Placement (QIP) on late Tuesday evening, a person with knowledge of the development said. The company has allowed for a 100 crore allotment for oversubscription, which could take the total deal size to over 500 crore. The QIP is being managed by Axis Capital and ICICI Securities, the person cited above said, asking to be anonymous.

Dish TV: A group of minority investors of Dish TV India Ltd has demanded a probe into the alleged diversion of funds by Zee Entertainment Enterprises Ltd (ZEE) from a unit of the satellite TV provider, which was part of the series of transactions that led to Subhash Chandra and Punit Goenka being barred from holding any board positions at any listed company by the market regulator. In a letter dated 11 July, Dish TV’s minority investors expressed their disappointment at the performance of the two directors in ensuring strong corporate governance standards in the company.

MCX/63 Moons Technologies: Faced with a massive cost escalation, Kotak Mahindra Bank-backed commodity derivatives exchange MCX proposes to migrate to software giant Tata Consultancy Services’ (TCS) trading and clearing platform before the contract with its existing tech vendor and founder 63 Moons Technologies ends in December, said a person with knowledge of the matter. An added dimension, he said, was that notwithstanding the migration before or during the tenure of the contract, MCX is obliged to pay 63 Moons the entire sum of 250 crore for the extension of its services.

Kalpataru Projects International: Kalpataru Projects International arm Kalpataru Power Do Brasil Participações Ltda. (KPBPL) has completed the acquisition of a 100 per cent equity stake in Fasttel Engenharia S.A., Brazil. Earlier in 2021, the KPBPL had acquired a 51 per cent stake in Fasttel along with management control. "The KPBPL has on 10th July 2023 acquired the balance 49 per cent equity stake in Fasttel. Accordingly, Fasttel has now become WOS (wholly owned subsidiary) of KPBPL," a BSE filing stated.

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Published: 12 Jul 2023, 07:24 AM IST
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