Market Commentary - Stock Alert
TCS, HCL Tech, Hindalco, Patanjali Foods in spotlight As on : 13-Jul-23  08:33

TCS: The IT major's consolidated net profit declined 2.79% to Rs 11,074 crore in Q1 FY24 as against Rs 11,392 crore reported in Q4 FY23. Revenue from operations rose marginally to Rs 59,381 crore during the quarter from Rs 59,162 crore posted in Q4 FY23.

On a year on year (YoY) basis, the IT firm's net profit jumped 16.84% and net sales grew by 12.55% in Q1 FY24. The company's order book total contract value (TCV) stood at $10.2 billion as on 30 June 2023 and the book to bill ratio was at 1.4.

HCL Technologies: The IT major's consolidated net income declined 11.3% to Rs 3534 crore on 1.2% fall in revenue to Rs 26296 crore in Q1 FY24 over in Q4 FY23.

Hindalco Industries: The board of directors approved a proposal of sale of land situated at Kalwa, Maharashtra. Consideration is Rs 595 crore to be received in multiple tranches over a period of time and 1.5% of the Sales Revenue. Buyer is Birla Estates Private Limited, a Wholly owned Subsidiary of Century Textiles and Industries Limited.

Patanjali Foods: Promoter Patanjali Ayurved launched its offer for sale of 2.53 crore equity shares the company representing 7% of equity capital. Non-retail investors can bid on July 13 and retail investors on July 14. The promoter will also sell additional 2% if there is an oversubscription. The floor price of the offer is Rs 1,000 per equity share.

Dreamfolks Services: DreamFolks and Plaza Premium Group, a global leading airport hospitality provider with the world's largest network of independent airport lounges, have announced a collaboration to include over 340+ Plaza Premium Lounges in over 70+ major international airports into the DreamFolks global lounge network, offering an enhanced travel experience to its members worldwide starting 24 July 2023.

Texmaco Rail & Engineering: A meeting of board of directors of the company is scheduled to be held on 17th July 2023 to consider proposals for raising of funds by way of issue of one or more instruments including equity shares / convertible securities either by way of Preferential Issue/ Rights Issue / Qualified Institutions Placement / or a combination thereof or through any other mode.

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