Stocks To Track Today: TCS, Wipro, Tata Motors, Adani Enterprise And LIC Shares To Be In Focus | Check GIFT Nifty And Other Details (image source: Canva)
Stock To Watch: TCS, Wipro, Tata Motors, Adani Enterprise and LIC shares will be in focus.
Stock Market Today: GIFT Nifty on Monday at 8:30 was down by 124 points or 0.55 per cent at 22,463. The Index hinted at a negative territory start for D-Street.
Ahead of market opening take a look at the stocks that are in the news to be in focus for the day
Stocks To Track Today
Tata Consultancy Services: India’s largest IT services company has reported a 9.1 per cent year-on-year increase in net profit, reaching Rs 12,434 crore for the quarter ended March FY24, surpassing analysts’ expectations. Revenue from operations also saw a 3.5 per cent YoY growth, reaching Rs 61,237 crore, driven by strong performance in India, the UK, and the manufacturing segment. TCS achieved an EBIT growth of 10 per cent to Rs 15,918 crore, with a margin expansion of 150 bps to 26 per cent compared to the previous year. The company’s total contract value for the quarter reached $13.2 billion, with a record full-year order book of $42.7 billion. Additionally, TCS announced a dividend of Rs 28 per share for the financial year 2023–24.
Wipro: FPEL Ujwal has issued equity shares to new shareholders and converted existing optionally convertible debentures (OCDs) into equity shares. Consequently, Wipro’s shareholding in FPEL has decreased from 9.95 per cent to 7.07 per cent, effective from April 11. In September 2023, Wipro acquired a 9.95 per cent equity share capital in FPEL Ujwal, with the transaction completed on October 10, 2023.
Tata Motors: Tata Motors reported an impressive 8 per cent increase in total global wholesales for the fourth quarter ending March 31, 2024, totalling 377,432 units compared to the same period the previous year. Notably, global wholesales of the company’s passenger vehicles, including electric vehicles, surged by 15 per cent to 155,651 units in Q4FY24 compared to Q4FY23. Jaguar Land Rover (JLR), Tata Motors’ subsidiary, achieved an 81 percent growth in retail sales in India for FY24, selling a total of 4,436 units.
Adani Enterprises: Adani Global, Mauritius, a wholly owned subsidiary of the company, has signed a shareholders’ agreement to acquire a 49 per cent stake in Adani Easysoft Smart Solutions, Abu Dhabi, from Easysoft Holding, UAE. Following this agreement, Adani and Easysoft Holding will jointly hold ownership of Adani Easysoft Smart Solutions, with Adani owning 49 per cent and Easysoft Holding 51 percent. Both parties will have equal representation on the board of directors of Adani Easysoft Smart Solutions.
LIC: According to a media report, the state-run insurance giant witnessed a 59 per cent increase in the value of investments in Adani Group stocks. Last year, LIC faced scrutiny over its decision to invest in the Adani group following the Hindenburg report.
