NEW DELHI: Here is a list of stocks that could be in focus on Tuesday:
Tata Consultancy Services: Reported a 7.4% year-on-year rise in its March quarter net profit, slightly below analysts’ estimate, as rising employee costs squeezed earnings even as demand remained robust. Net profit rose to ₹9,926 crore during the period, trailing the ₹10,077 crore consensus profit estimate in a Bloomberg survey. Revenue grew 15.8% on year to ₹50,591 crore, beating the ₹50,249 crore consensus Bloomberg estimate.
Telecom stocks: The telecom regulator has recommended a 36% cut in the base price of 5G spectrum band (3300-3670MHz band) to ₹317 crore on a pan-India basis from the ₹492 crore it suggested in 2018, offering major relief to telcos and setting the stage for them to secure prized airwaves in a government auction.
ZEE Entertainment Enterprises: Has decided to go full throttle on its movie production business, housed under Zee Studios. The company, which released 23 films in the financial year that ended March 31, is looking to more than double that to 48 in the current year and is eyeing revenues of ₹2,000 crore to ₹2,500 crore from the movie business alone.
Ruchi Soya: Baba Ramdev's Ruchi Soya Industries has said it will evaluate the most efficient mode to merge Patanjali Ayurved Ltd's food portfolio with itself and has also decided to change the name of the company to Patanjali Foods Ltd. The company recently raised ₹4,300 crore through a follow-on public offer. It has also repaid ₹2,925 crore loans to banks and has become debt free.
UltraTech Cement: Has been declared a preferred bidder for the Diggaon limestone block. The company participated in the e-auction conducted by the Karnataka government. The block is adjacent to the company's Rajashree unit and has total cement grade geological resources of 530 million tonne of limestone over an area of 7.86 square km.
Piramal Enterprises: The Supreme Court has stayed the NCLAT's order in which it had sent back the Piramal Group’s winning bid for DHFL to the debt-laden finance company's lenders for reconsidering the valuation. Piramal Enterprises Ltd had bought the bankrupt DHFL in September 2021 by making an upfront cash payment of ₹14,700 crore to creditors. It had made a total payment of ₹34,250 crore, which included a debt instrument issuance of ₹19,550 crore.
JSW Steel: JSW Utkal Steel, a subsidiary of JSW Steel, has received environmental clearance for setting up a greenfield integrated steel plant with a capacity of 13.2 million tonnes per annum crude steel, from the government. The capital expenditure for the project is estimated at ₹65,000 crore.
SJVN: State-owned SJVN has inked a memorandum of understanding with engineering firm BHEL and REMC Limited to develop renewable energy projects for the Indian Railways.
Adani Green Energy: The company on Monday entered the list of top-10 valued firms as its market valuation zoomed to over ₹4.22 lakh crore, backed by a sharp rally in its share price. The company commanded a market valuatuion of ₹4,22,526.28 crore to grab the tenth spot on the top-10 list.
Veranda Learning Solutions: Nomura Singapore sold 9,78,581 equity shares in the company via open market transactions at an average of ₹160.97 apiece on the BSE.
