Market Commentary - Stock Alert
TCS, Infosys, Tata Power, Nykaa in spotlight As on : 12-Jan-24  08:33

TCS: The IT giant's consolidated net profit declined 2.5% to Rs 11,058 crore in Q3 FY24 as against Rs 11,342 crore reported in Q2 FY24. Revenue from operations rose 1.49% to Rs 60,583 crore during the quarter from Rs 59,692 crore posted in Q2 FY24. The company's order book total contract value (TCV) stood at $8.1 billion as on 31 December 2023 and the book to bill ratio was at 1.1. The board has declared a second interim dividend of Rs 9 and a special dividend of Rs 18 per equity share. The record date for the same is 19 January 2024 and the payment date is 5 February 2024.

Infosys: The IT major's consolidated net profit fell 1.6% to Rs 6,113 crore in Q3 FY24 from Rs 6215 crore in Q2 FY24. Revenues fell marginally to Rs 38,821 crore in Q3 FY24 as compared with Rs 38,994 crore in Q2 FY24. Year on year basis, the company?s net profit declined 7.2% while revenues increase 1.3% as compared with Q3 FY24. In terms of guidance, the company has revised it FY24 revenue guidance to 1.5%-2.0% and operating margin guidance at 20%-22%.

Tata Power: Tata Power Renewable Energy Limited (TPREL), a subsidiary of the company, has signed Memorandum of Understanding (MoU) with the Government of Gujarat (GoG) to develop 10,000 MW of Renewable Energy Power projects across multiple sites in Gujarat.

FSN E-Commerce Ventures (Nykaa): Foreign investor Lexdale International is reportedly likely to sell 2.62 crore shares of Nykaa via a block deal, as per reports.

Life Insurance Corporation of India (LIC): LIC said that the company has received orders from Income Tax authorities regarding Income Tax demand issued by Assistant Commissioner of Income Tax, Mumbai. The company shall file an appeal before Commissioner (Appeals), Mumbai against the orders within the prescribed timelines.

H.G. Infra Engineering: The company has been declared as L-1 bidder by Central Railway for the project involving construction of New BG Line Between Dhule (Borvihir) to Nardana of Central Railway. The bid project cost is Rs 716.11 crore.

RPSG Ventures: A meeting of the board of directors of RPSG Ventures is scheduled to be held on 17 January 2024, to consider and approve the proposal for raising of funds by way of issue of one or more instruments/ securities.

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