From HDFC Bank to TCS, here are the stocks to watch out for in today's trading session.
HDFC Bank | India’s largest private lender will be reporting its September quarter results after market hours on Monday. Net Interest income is seen 10% higher, while net profit may dip 3% compared to the same period last year. This will be the first quarterly results post the merger with HDFC and hence numbers are likely to be volatile.
TCS | The company stated that 16 employees have been separate from the company for code of conduct violation, while three have been removed from the Resource Management function. TCS has also reiterated that the entire incident does not involve any fraud by or against the company and that there is no financial impact of the same. More on that here.
Avenue Supermarts | Net profit down 9.1% at Rs 623.3 crore due to a high base and tax expenses. Margin down 40 basis points to 8% from 8.4% last year. Gross margin impacted by lesser contribution from the General Merchandise and Apparel business, which is now down to 23.21% of overall sales from 24.75% earlier.
Delta Corp | Subsidiary Deltatech Gaming gets tax payment notic of Rs 6,384 crore. This takes the total tax demand for the company and its subsidiaries to over Rs 20,000 crore.
Tata Motors | To sell 9.9% stake in IPO-bound Tata Technologies Ltd. for Rs 1,613.7 crore to TPG, a climate focused private equity fund for an equity valuation of Rs 16,300 crore or nearly $2 billion. “This transaction furthers Tata Motor’s de-leveraging agenda and is expected to close in the next two weeks on completion of customary closing procedures,” the automaker said. TPG Rise Climate has earlier invested $1 billion in Tata Passenger Electric Mobility Ltd.
Laurus Labs | Associate company ImmunoACT gets India’s first CAR-T Cell Therapy, NexCAR19 from CDSCO. NexCAR19 is used in treating B-cell lymphomas and leukemia. It is expected to be priced 50-70% cheaper. Laurus Labs has invested over $18 million in ImmunoACT.
Adani Enterprises | Ministry of Corporate Affairs has initiated an investigation on Mumbai International Airport and Navi Mumbai International Airport accounts. Documents are being sought by the ministry pertain to the period starting 2017-18 to 2021-22.
Dalmia Bharat | September quarter results an operational beat driven by lower costs, mainly driven by decline in power and fuel costs. Volumes flat at 6.2 MT vs 6.22 MT year-on-year, while EBITDA per tonne at Rs 955 compared to expectations of Rs 878. Net profit of Rs 124 crore, higher than the poll estimate of Rs 82 crore.