Singapore Exchange’s Nifty futures traded 278 points, or 1.61 percent, lower at 17,036 to indicate Dalal Street will have a bad start to the week. The following twelve stocks may be the most popular ones in today’s market:
Tata Consultancy Services (TCS): Before its September 2022 quarterly results, Tata Consultancy Services (TCS), a significant player in the IT industry, will be scrutinised. Experts predict that TCS will maintain its revenue growth momentum, and that the impact of salary increases that were visible in Q1 would likely enhance operating margins. Across all industries, TCS is reportedly experiencing strong growth. Things to watch out for include the attrition rate, the prognosis for the EBIT margin, the advantage of rupee depreciation, and transaction closings.
HCL Technologies: Over the next two years, the IT business intends to employ 1,300 individuals in Mexico. The move is anticipated to boost its 2,400-person workforce base there currently.
Star Health and Allied Insurance Business: For the quarter that ended on September 30, 2022, the company reported gross direct premium of Rs 5,655.1 crore, an increase of 12% over the same time last year. The health-retail segment saw an increase of 21% on-year to Rs 4,306.4 crore.
Lupin: With effect from October 14, 2022, Kamal K. Sharma, Non-Executive Vice Chairman of the Company, will resign from the Board of Directors of the company.
HDFC: The Housing Development Finance Corporation would issue bonds through a private placement to raise up to Rs 12,000 crore. According to a stock regulatory filing, the first offering amount is Rs 1,000 crore with an option to retain up to Rs 11,000 crore more. The secured redeemable Non-Convertible Debentures (NCDs) will have a tenor of 10 years and a coupon rate of 8.07 percent per year.
IDBI Bank: To provide advisory services and manage the transaction of the stake sale in IDBI Bank, the government of India hired Link Legal as the legal counsel and KPMG India as the transaction adviser. Little more than 30% of each company’s share in IDBI Bank would be sold by the government and LIC of India. The government owns 45.48 percent of the bank’s shares, while LIC holds 49.24 percent, and the government has asked bidders to show their interest.
Tata Power: The business announced intentions to build roughly 10,000 megawatts (MW) of solar-dominated renewable energy capacity in Rajasthan over the following five years. Across the next five years, the energy giant intends to build up to 8,000 MW of utility-scale projects, 1,000 MW of solar rooftops, and 1,50,000 solar pumps in the state.
Allcargo Logistics: The logistics company is upbeat about its future prospects and expects to grow at an average rate of 15% per year, primarily due to organic expansion. Over the following three to four years, the company also wants to rank among the top 10 companies in the world of logistics.
