TCS, Rategain, India Cements, Delta Corp, Inox Wind, and Others indiabusinessport.com


The equity market in the last session had a kneejerk reaction to the global cues amid fears that Federal Reserve may continue with aggressive policy tightening in upcoming policy meetings but managed to recoup significant losses in the afternoon to end off the day’s low on October 10. All sectors, barring IT, were caught in the bear trap. The BSE Sensex declined 200 points to 57,991, while the Nifty50 fell 74 points to 17,241.

Results Today

Delta Corp, GM Breweries, Gujarat Hotels, Supreme Infrastructure India, and Trident Texofab will be in focus ahead of quarterly earnings on October 11.

Stocks in News

Tata Consultancy Services

The IT services company reported a 10% sequential growth in consolidated profit at Rs Rs 10,431 crore for Q2FY23, with profitable growth across all industry verticals and in all major markets. Consolidated revenue grew by 4.8% sequentially (up 18 percent YoY) to Rs 55,309 crore, driven by strong execution, with dollar revenue rising 1.4% and constant currency revenue growth at 4% for the quarter. The orderbook remained quite strong at $8.1 billion for Q2FY23, though slightly down compared to $8.2 billion in previous quarter.

JTL Infra

The stock will be in focus as the company clocked a 56.5% growth year-on-year in consolidated profit at Rs 20.27 crore for the September FY23 quarter, backed by strong operating performance. Consolidated revenue for the quarter grew by 14% YoY to Rs 299.9 crore.

Rategain Travel Technologies

Investor Wagner exited the company by selling entire 57.04 lakh equity shares or 5.28% shareholding in the company via open market transactions on October 6. However, Nippon Life India Trustee acquired additional 4.89% equity in Rategain during December 9, 2021 and October 6, 2022, taking total shareholding to 8.75%.

Panacea Biotec

The company has received long-term supply orders worth $127.30 million (around Rs 1,040 crore) from UNICEF and Pan American Health Organization (PAHO). The company will supply WHO pre-qualified fully liquid Pentavalent vaccine, Easyfive-TT (DTwP-HepB-Hib). UNICEF order is worth $98.755 million (Rs 813 crore) for supply of 99.70 million doses during calendar years 2023-2027 and PAHO award is worth $28.55 million (Rs 235 crore) for supply 24.83 million doses during calendar years 2023-2025.

India Cements

The cement company has sold its entire shareholding in Springway Mining to JSW Cement. It has entered into a Share Purchase Agreement with JSW Cement and divested the entire shareholdings for Rs 476.87 crore. With this, Springway Mining is ceased to be the wholly owned subsidiary of the company.

Triveni Turbine

Nippon Life India Trustee sold 2.92 lakh equity shares or 0.09% stake in the company via open market transactions. With this, its shareholding in the company reduced to 2.98%, from 3.07% earlier.

Inox Wind

The company said its subsidiary Inox Green Energy Services sold entire equity shareholding held in Wind One Renergy, Wind Three Renergy and Wind Five Renergy, to Adani Green Energy. All three special purpose vehicles successfully commissioned 50 MW each of SECI Tranche 1 in 2019. Inox Wind had won 250 MW under the Tranche 1 of Solar Energy Corporation of India’s (SECI -1) bids for wind power projects at Dayapar, Gujarat connected on the central grid, at a fixed tariff of Rs 3.46 per unit for 25 years for sale to PTC India.

Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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