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Business News/ Markets / Stock Markets/  Stocks to Watch: TCS, Wipro, Vi, TaMo, HUL, CAMS, Dr Reddy's, Adani Total Gas

Stocks to Watch: TCS, Wipro, Vi, TaMo, HUL, CAMS, Dr Reddy's, Adani Total Gas

Here are a few stocks likely to be in focus on Friday, April 12:

The NSE F&O ban list for April 12 includes Balrampur Chini Mills, National Aluminium Company, Exide Industries, Hindustan Copper, Vodafone Idea, India Cements, SAIL, and Zee Entertainment Enterprises. (Photo: Mint)Premium
The NSE F&O ban list for April 12 includes Balrampur Chini Mills, National Aluminium Company, Exide Industries, Hindustan Copper, Vodafone Idea, India Cements, SAIL, and Zee Entertainment Enterprises. (Photo: Mint)

TCS: The IT company is expected to present moderate figures for Q4FY24, driven by the acceleration of significant deal victories, despite the ongoing weakness in crucial international markets. The company will disclose its earnings for the March quarter on Friday, April 12. Industry experts estimate TCS's revenue growth to be in the lower single digits on a quarter-on-quarter (QoQ) basis in constant currency terms. The EBIT margin is likely to remain steady as operational enhancements and cost efficiencies are expected to balance out the lower margins in the Indian business. In addition to the primary figures, the focus will be on trends in deal wins, attrition rates, and management's commentary on near-term demand. For the quarter, TCS might report a 5% year-on-year growth in total revenue and an 8% growth in reported PAT, as per Motilal Oswal Financial Services's estimates.

Vodafone Idea: The telecom major announced early Friday that it plans to initiate a Follow on Public Offer (FPO) of equity shares, aiming to raise up to 18,000 crore. The FPO is scheduled to commence next week. The FPO will be open for subscription from April 18 to April 22. Offers for anchor investors will be approved on April 16, as stated in the company's exchange filing. Vodafone Idea's Capital Raising Committee is set to convene later on Friday to discuss and finalize the price band and discount for the FPO. Starting from April 15 until the offer closes, Vodafone Idea will engage in road shows and discussions with investors and analysts.

Wipro: Wipro Ltd has announced the appointment of company veteran Malay Joshi as the chief executive officer of its largest and rapidly expanding market, Americas 1. Joshi will take over from the current CEO, Srinivas Pallia, who has been leading the unit since January 2021 until his recent promotion. Joshi, with nearly three decades of experience at the Bengaluru-based IT firm, will assume his new role immediately. He will also join the Wipro executive board, according to the company's announcement.

Tata Motors: On April 10, Tata Motors reported an impressive 8% rise in total global wholesales for the fourth quarter ending March 31, 2024, reaching 377,432 units, compared to the same period the previous year. The company's statement revealed that the global wholesales of its passenger vehicles, including electric vehicles, during Q4FY24 were at 155,651 units, representing a substantial 15% increase compared to Q4FY23. Jaguar Land Rover (JLR), the company's subsidiary, reported a 81% growth in retail sales in India for FY24, with a total of 4,436 units sold.

Hindustan Unilever, Emami: The Calcutta High Court has issued a restraining order against Hindustan Unilever (HUL), prohibiting the use of the 'Glow & Handsome' mark for its men's care products. This follows a lawsuit filed by competitor Emami. HUL has been given a month to comply with the order, which was issued on April 9. An HUL spokesperson stated that they are currently reviewing the injunction order issued by the Calcutta High Court in response to Emami's lawsuit, which has been ongoing for nearly four years. They added that appropriate action will be taken. This development is an extension of a 2020 disagreement between the two companies when HUL rebranded its men's fairness cream to 'Glow & Handsome,' a name similar to Emami's 'Fair & Handsome' men's personal care product line. According to the order, Emami has established a strong prima facie case on the merits regarding the matter of passing-off.

Larsen & Toubro: Edelweiss Alternatives-backed platform Infrastructure Yield Plus strategy has successfully acquired a 100% stake in L&T Infrastructure Development Projects Ltd (L&TIDPL), previously held by Larsen & Toubro (51%) and Canada Pension Plan Investment Board (CPP Investments) (49%). This acquisition will expand the infrastructure platform to 26 assets, encompassing 5,000 lane-km of roads, 1,800 ckm of power transmission assets, and 813 MWp of renewables. The cumulative annual revenue is projected to be 3,000 crore.

Adani Total Gas: Adani TotalEnergies E-Mobility, a subsidiary of Adani Total Gas, and MG Motor India have entered into a Memorandum of Understanding (MoU) to enhance India's EV charging infrastructure. This joint initiative aims to develop charging solutions for electric vehicles (EVs) and offer value-added services to MG's EV customers across the country, thereby supporting the growth of India's rapidly evolving EV ecosystem. Under the MoU, ATEL will install CC2 60 kW DC chargers at future MG dealerships to strengthen the charging network and improve customer access. The collaboration will deliver a comprehensive solution that includes the supply, installation, commissioning, operation, and maintenance of the charging infrastructure.

Metropolis Healthcare: The medical diagnostics company on April 10 said it has delivered a 10% year-on-year increase in overall revenue. The core business revenue witnessed even stronger growth, surging by 15% compared to the previous year. Its Q4FY24 sales volume increased 8% year-on-and Revenue Per Patient (RPP) increased 7% YoY. This growth was primarily propelled by the speciality tests segment, premium wellness segment, and implemented price increases. Moreover, the company's Business-to-Consumer (B2C) revenues recorded a notable 18% year-on-year growth, indicating strong demand for its services among individual consumers. One of the significant milestones achieved by Metropolis Healthcare during the quarter was the repayment of its debt, resulting in a debt-free status as of March 31, 2024.

Computer Age Management Services: The mutual fund transfer agency announced to the stock exchanges on April 10 that it has been authorized by the Reserve Bank of India (RBI) to function as an online payment aggregator. The company had initially received an in-principle authorization from the RBI in February 2023, as per the company's statement. Its payment business unit, CAMSPay, currently caters to a diverse clientele, including mutual funds, insurance companies, banks, and NBFCs. In the previous month, CAMSPay recorded over 1.2 million mandates for UPI Autopay, highlighting the company's expanding presence in the online Digital Payments Segment.

Dr Reddy 's: The company has launched its drug-free migraine management device, Nerivio, in Germany via its subsidiary, betapharm, as per a statement released on April 10. Following its European market debut, Nerivio is set to be launched in South Africa later in April, with subsequent introductions in Spain and the UK. Nerivio is a wearable device that is free from drugs, approved by the USFDA, and certified by CE-mark. It employs a "Remote Electrical Neuromodulation (REN)" mechanism for the acute and/or preventive treatment of migraines (with or without aura) in adults and adolescents aged 12 years and above.

Alkem Laboratories: The US FDA issued a comprehensive report outlining ten procedural observations made during their inspection of Alkem Laboratories' Baddi unit last month. The US FDA had carried out an inspection of the manufacturing facility from March 19 to 27. The scope of the inspection encompassed compliance with Good Manufacturing Practices (GMP—guidelines set forth by the agency) and a Pre-Approval Inspection. The report highlighted issues related to cleanliness and procedural errors, including a "failure to thoroughly review any unexplained discrepancy" and the absence of established "control procedures", as per the US FDA's findings.

Signature Global: The real estate company saw a 6% rise in its net debt to 1,160 crore in the last fiscal year, up from 1,090 crore in FY23. This increase was primarily due to land purchases for housing project development. The company announced on Sunday that its sales bookings had more than doubled to 7,270 crore in 2023-24, up from 3,430 crore in the previous fiscal year. In March, Signature Global sold 1,008 luxury homes in its new Gurugram, Haryana project for approximately 3,600 crore. This sale contributed to the company's record sales bookings in the last fiscal year, surpassing the target of 4,500 crore for 2023-24.

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Pranay Prakash
My experience as a Finance Journalist has involved working as a Web Producer and Sub Editor at a wire agency and business magazine, respectively, where I have curated various domain specific news pages, and later edited long-form, in-depth pieces on everything from India's corporates to the state of the economy, and various sectors. At Mint, I am involved in the editing of market copies and the curation of the live markets blog. Apart from the financial markets, my interest encompass topics related to the economy, the political economy of a growing economy, the space of policy design, and how it affects the wider economy and the decisions of corporates and consumers alike.
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Published: 12 Apr 2024, 08:16 AM IST
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