Stocks in news: TCS, Tata Motors, RIL, IRB Infrastructure, JSW Steel, Sona BLW

The January futures contract of the Nifty 50 on the Singapore Exchange is pointing to a negative start for domestic equities on Tuesday. The contract was trading at 18,156.50, down 16.5 points or 0.09% from the previous close.

Below are the stocks that will be on investors’ radar:

Tata Consultancy Services: The software major on Monday reported 19% YoY growth in consolidated revenue for the quarter ended December to Rs 58,229 crore, beating expectation of Rs 56,893 crore. The net profit rose 11% YoY to Rs 10,846 crore, but was lower than the expected Rs 11,200 crore. The software major also announced a special dividend of Rs 67 per share and an interim dividend of Rs 8 per share.

Tata Motors: The company's subsidiary Jaguar Land Rover saw a 15% YoY rise in wholesale sales volumes to 79,591 units in the December quarter, on the back of a ramp-up in production amid the improvement in chip supplies. The luxury carmaker's retail sales grew by 5.9% to 84,827 units. JLR expects free cash flow to be positive by over 400 million pounds in Q3.

Reliance Industries: Arm Reliance Jio Infocomm has launched fifth-generation or 5G wireless services in 10 cities across 4 states -- Uttar Pradesh, Andhra Pradesh, Kerala, and Maharashtra. Services have been launched in Agra, Kanpur, Meerut, Prayagraj, Tirupati, Nellore, Kozhikode, Thrissur, Nagpur, and Ahmednagar.

JSW Steel: The steelmaker's crude steel output rose 17% on year to 6.24 million tonne in the December quarter, aided by an improved average capacity utilisation.

Indian Overseas Bank: The bank has increased its marginal cost of funds-based lending rates or MCLR by 5 bps across tenures, from Tuesday. Following the hike, rates on loans will be in the range of 7.70-8.45%.

IRB Infrastructure Developers: The company and its subsidiary IRB Infrastructure Pvt Ltd reported a 32% YoY growth in gross toll collection to Rs 388 crore in December. Toll collection by the 5 special purpose vehicles (SPVs) of IRB InvIT Fund surged 18% YoY to Rs 77.7 crore.

Lupin: The company has got approval from Spain's health ministry for part reimbursement of retail price to patients for its NaMuscla drug, used to treat non-dystrophic myotonic related disorders.

Star Health Life Insurance: The insurance major’s gross direct premium as on December 31 stood at Rs 8,752 crore, up 13% from the year-ago period. Health - Retail category gross direct premium stood at Rs 8,045.5 crore, up 19% on year.

Sona BLW Precision: The auto component maker will acquire 54% stake in Serbia-based Novelic for 40.5 mln euros. Novelic manufactures radar sensors, and through this acquisition, Sona BLW plans to expand its business in autonomous and connected vehicle technologies.

Bilcare: Rekha Jhunjhunwala, wife of late Rakesh Jhunjhunwala, has sold 0.5% stake in BSE-listed smallcap company Bilcare Limited through a bulk deal on Monday. According to the data on the exchange, Jhunjhunwala sold 135,994 shares of the packaging solutions provider at Rs 41.78 a share, aggregating to Rs 57 lakh. This price is at a steep discount of over 9% to Friday’s close price of Rs 46.05.

Rajnish Wellness: Shares of the company will trade ex-split from the face value of Rs 2 to Re 1 per share i.e. in the ratio of 1:2. Ahead of the stock split date, the stock hit a 5% upper circuit on Monday.

Excel Realty: The company’s board will meet to consider and approve earnings for the quarter ended December. The company hit a 10% upper circuit in Monday’s trading session.

GI Engineering Solutions: The company’s board will meet to consider and approve earnings for the quarter ended December.

Quest Capital Markets: The company’s board will meet to consider and approve earnings for the quarter ended December. This stock has generated significant wealth for investors with a 3-year return at 199%.

Visagar Financial Services: The company’s board will meet to consider and approve earnings for the quarter ended December. Public shareholding in this company is very high at 94.65%.

Shradha Infraprojects: The company’s board will meet to consider and approve earnings for the quarter ended December. The company’s stock’s 3 year return is 116%. The company will also mull interim dividend for FY23.

Indian Energy Exchange: The 98 crore share buyback of the energy trading company will open on January 11. The maximum price for the buyback has been set at Rs 200 a share.

Earum Pharmaceuticals: The company in its board meeting will be deliberating over the rights issue of shares.


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