Stocks To Watch: TCS, Infosys, Wipro, DLF, Hindalco, Delta Corp, Ultratech, IGL, Equitas SFB
Asian stocks rose after a rebound in the U.S. equities after Federal Reserve Chair Jerome Powell reassured investors the central bank will contain price pressures.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, rose 0.58% to 18,195.50 as of 7:30 a.m.
Stocks To Watch
Earnings Today: Tata Consultancy Services, Infosys, Wipro. Here's a preview.
Tata Consumer Products: The company has appointed Gharry Eccles as President – International Business with effect from January 17, 2022. Eccles will replace Adil Ahmad who will be retiring from the company on May 31, 2022.
Tata Teleservices: The company has decided to convert interest related to AGR dues of Rs 850 crore into equity. The government will hold approx. 9.5% stake as per company’s estimates. In October, the company had decided to opt for deferment of these dues.
Shriram Transport Finance: The company has raised $475 million Fixed Rate Senior Secured 144A /Reg S Bond (available ECB limit for FY22) for a 3.5-year tenor at an interest rate of 4.15%. The proceeds from the STFC social bond would be used for employment generation, including through MSME financing.
Delta Corp.: The company reported a net profit of Rs 70.38 crore in Q3 as compares to a loss of Rs 22.57 crore in the previous quarter. The revenue jumped more than double at Rs 247.22 crore in contrast to Rs 120.82 crore a year ago. The company also said that its online gaming business arm will explore an IPO by way of offer for sale of equity shares.
Ugro Capital: The company recorded total disbursements at Rs 414 crore in December 2021 as compared to Rs 319 crore in November. As a result, the overall AUM as on December 2021 stood at Rs 2,590 crore, up 97% since March 2021 and 130% since December 2020.
Marico: The company will consider second interim dividend on Jan. 28.
Hindalco: Novelis, a wholly owned subsidiary of the company, will build $365 million aluminum recycling plant in U.S. with annual capacity of about 240,000 metric tons of sheet ingot. It is expected to commence operations in 2024.
Indian Railway Finance Corporation: The company updated its global medium term note programme by increasing the principal amount of notes that may be issues from $4,000,000,000 to $7,000,000,000.
Ultratech Cement: The company has commissioned Line II of the Bara Grinding Unit in Uttar Pradesh taking its total cement manufacturing capacity in India to 114.55 mtpa.
DB Realty: The company has called for an extraordinary general meeting on Feb. 2 to alter the articles of association and increase authorized share capital from Rs 375 crore to Rs 450 crore taking equity shares from Rs 300 crore to Rs 37 crore. It has also proposed to issue fully convertible warrants on preferential basis.
RITES: The company has signed memorandum of understanding with SMEC group to explore infrastructure opportunities.
The Great Eastern Shipping company: The company bought back 30,000 shares at Rs 310.01 from Kotak Securities.
Choice International: The company will consider rights issue on Jan. 14.
KPI Global: The company commissioned 2.964 MW solar power project under Captive Power Producer segment.
Life Insurance Corporation of India likely to file IPO prospectus in the final week of January, reports Bloomberg.
Who’s Meeting Whom
Godrej Properties: To meet investors and analysts on Feb. 3.
Torrent Pharmaceuticals: To meet investors and analysts on Jan. 25.
GTPL Hathway: To meet investors and analysts on Jan. 17.
Pledge Share Details
Sterling and Wilson Renewable Energy: Promoter Kainaz Daruvala created a pledge of 29.33 lakh shares on Jan. 7.
Steel Exchange India: Societe Generale bought 5 lakh shares (0.57%) at Rs 226.02 apiece.
Rupa & Company: Abakkus Asset Manager LLP bought 14.45 lakh shares (1.82%) at Rs 465.5 apiece. Abakkus Growth Fund-2 bought 8.61 lakh shares (1.08%) at Rs 465.5 apiece.
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Record Date Spin Off: GMR Infrastructure
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