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Business News/ Markets / Stock Markets/  Stocks to Watch: Wipro, HCL Tech, JSW Energy, Delta Corp, Adani Green
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Stocks to Watch: Wipro, HCL Tech, JSW Energy, Delta Corp, Adani Green

JSW Energy, Bandhan Bank, CCL Products, Coromandel Engineering, Den Networks, GTPL Hathway, Just Dial, Kesoram Ind, Sastasundar Ventures, Tata Steel Long Products, Unichem Laboratories, Vandana Knitwear, and VST Industries are scheduled to announce their June quarter earnings today

On Thursday, the Sensex surpassed the 66,000-mark in a first, before closing 165 points higher at 65,559, while the Nifty50 hit a fresh all-time high of 19,567, before ending the session at 19,414, up 30 points.Premium
On Thursday, the Sensex surpassed the 66,000-mark in a first, before closing 165 points higher at 65,559, while the Nifty50 hit a fresh all-time high of 19,567, before ending the session at 19,414, up 30 points.

New Delhi: Here are the top 10 stocks that could be in focus on Friday:

Wipro: The IT major reported dollar revenue of $2.78 billion for June quarter, a 2.1% sequential decline and only 0.81% better than the year-ago period. In constant currency terms, sequential growth fell 2.8%. Net income slipped 6.5% sequentially to $349.8 million, although it was up 7.8% year-on-year. Wipro has forecast revenue decline for the September quarter as well. These numbers following close on the heels of tepid earnings from peers Tata Consultancy Services and HCL Tech has raised concerns about sluggish growth in India’s $245 billion IT services industry this fiscal year.

HCL Technologies: India's third largest IT services firm is acquiring German automotive engineering services company ASAP Group for an enterprise value of about €251 million ($280 million) to push beyond IT consultancy into expertize in self-driving vehicles. HCL said that it has agreed to buy all shares of ASAP Group, which specializes in autonomous driving and e-mobility. The sale is expected to be completed in September if the deal gets regulatory approval.

Delta Corp: Six of the seven clients holding large derivatives positions in Delta Corp., a gaming and casino company, closed their positions following the 11 July Goods and Services Tax (GST) Council meeting. The stock, which plunged 23% after the council decided to raise GST rates on gaming and casinos from 18% to 28%, prompted these clients to take immediate action. After they closed their positions, the Delta Corp. stock was removed from the futures and options (F&O) ban it had been subjected to on 7 July.

Adani Green: The renewable energy company ramped up capacity by 43% to 8,316 MW in the June quarter. The Adani Group firm said that it added 1,750 MW of solar-wind hybrid capacity, 212 MW of solar capacity, and 554 MW wind power plants in the first quarter of FY24, taking its total operational capacity to 8,316 MW. It is now the largest renewable energy company in India, which is actively working on its net-zero target by 2050.

Federal Bank: The private lender has reported an over 40% year-on-year rise in its June quarter net profit to 854 crore, driven by falling provisions and improving business momentum. Net interest income climbed 20% on year to 1,919 crore, while net interest margin was at 3.15%, down 7 basis points on year due to the rise in cost of funds.

Senco Gold: The Kolkata-based jewellery retailer will list on the stock exchanges on 14 July. The issue price has been fixed at 317 per share. According to market observers, shares of Senco Gold Ltd were available at a premium of 128 per apiece in grey market on Thursday. The 405-crore initial public offering of Senco Gold was subscribed 73.34 times at the close. The part reserved for QIBs was subscribed 180 times.

Patanjali Foods: Patanjali Foods do not plan to exercise the oversubscription option of selling an additional 2% stake after a strong response from institutional investors for its offer for sale (OFS). The total offer size will just be the base offer size, which is 7% stake the promoters initially planned to sell. The OFS of Patanjali Foods, under which the promoter Patanjali Ayurved will offload about 7%, will be available for retail investors to bid on Friday. The company has fixed 1,000 as the floor price for the OFS.

CSB Bank: Canadian public pension fund Omers Administration Corp. has exited the private sector lender by selling its entire stake, via open market transactions, for 105.9 crore. Omers sold 20.89 lakh shares at an average price of 295.02 apiece, and 15 lakh shares at an average of 295 apiece.

Rail Vikas Nigam: The state-owned railway company has received Letter of Award from National Highways Authority of India for rehabilitation and upgradation from four- to eight-laning of Chandikhole- Paradip section of NH-53 in Odisha on HAM mode. The project is worth 808.48 crore.

GMR Power and Urban Infra: Has received an order from the Uttar Pradesh government for the installation and maintenance of 75.69 lakh smart meters in the state. A letter of intent has been issued to its stepdown GMR Smart Electricity Distribution Private Ltd by discoms Purvanchal Vidyut Vitran Nigam Limited (PVVNL) and Dakshinanchal Vidyut Vitran Nigam Limited (DVVNL), GMR Power and Urban Infra Ltd said in a regulatory filing. The project will span over a period of 10 years.

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Published: 14 Jul 2023, 07:15 AM IST
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