Stocks to Watch on April 15
Equity indices concluded the previous week on a downward note, influenced by US inflation data. Looking ahead, specific stocks are set to command attention with the ongoing Q4 results season. Today’s trade will spotlight TCS, Anand Rathi, Aster DM, Bharti Hexacom, Varun Beverages, and more due to significant developments and quarterly earnings.
TCS (Tata Consultancy Services)
TCS reported a net profit of Rs 12,434 crore, marking a 9.1% year-on-year (YoY) increase post-market hours on Friday. Sequentially, profit grew by 6%. Revenue for the quarter rose by 3.5% YoY to Rs 61,237 crore, and by 1% quarter-on-quarter (QoQ). Notably, TCS secured one of its highest total contract values (TCV) amounting to $13.2 billion in the fourth quarter of FY24.
LIC (Life Insurance Corporation of India)
LIC witnessed a 59% surge in the value of investments in Adani Group stocks. Last year, LIC faced scrutiny over its investment decision in the Adani group following the Hindenburg report.
Tamilnad Mercantile Bank (TMB)
The Reserve Bank of India (RBI) rejected the proposed candidates for the position of managing director (MD) and chief executive officer (CEO) nominated by TMB.
Anand Rathi Wealth
Anand Rathi Wealth reported a 33% year-on-year (YoY) increase in net profit to Rs 56.60 crore. Revenue from operations grew by 29% to Rs 184.30 crore.
General Insurance Corporation of India (GIC Re)
Ramaswamy Narayanan, Chairman and Managing Director of GIC Re, anticipates a stake sale of up to 10% in the public sector reinsurer post the general elections. The Ministry of Defence (MoD) issued HAL a request for proposal (RfP) for 97 Tejas Mark 1A fighter aircraft, potentially marking the government’s largest-ever purchase of indigenously-built military equipment. HAL has three months to respond with a detailed proposal.
Bharti Hexacom
Directors Sanjeev Kumar and Surajit Mandol resigned from the board of Bharti Hexacom due to the termination of a shareholders’ agreement post the IPO. Aster DM Healthcare’s board declared a special dividend of Rs 118 per share for the financial year ended 2023-24.
Others Stocks
Ami Organics’ board approved a proposal to raise up to Rs 500 crore through the Qualified Institutional Placement (QIP) route. Varun Beverages commenced commercial production of carbonated soft drinks and energy drinks at its production facility in Gorakhpur.
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