A slew of stocks will hog the limelight in trade:
Infosys: The company on Thursday reported a 20.2% year-on-year (YoY) rise in consolidated revenue for the quarter ended December to Rs 38,318 crore, which topped analysts’ estimates. Consolidated net profit rose 13.4% on year to Rs 6,586 crore and was largely on expected lines. The software major surprised the Street by raising its constant currency revenue growth guidance for FY23 to 16-16.5% from 15-16% earlier. However, it retained its operating margin guidance at 21-22%.
HCL Technologies: The company on Thursday reported 19% year-on-year (YoY) growth in consolidated net profit to Rs 4.096 crore, which topped analysts’ estimate. The revenue grew nearly 20% on year to Rs 26,700 crore. The software major for the second time reduced its constant currency revenue growth guidance for FY23 to 13.5-14.0% from 13.5-14.5% earlier. The company also lowered its operating margin guidance to 18.0-18.5% from 18-19% earlier.
Wipro: The software major, which will release numbers on Friday, is likely to report a double-digit revenue growth year-on-year (YoY) for the December quarter, but the bottomline is likely to dip marginally. Consolidated revenue is seen rising 15% YoY and 3.5% sequentially to Rs 23,332 crore, according to the average of eight analysts’ estimates. While the net profit is likely to fall 3% on year to Rs 2,890 crore, it is seen rising 9% sequentially.
Cyient: The company on Thursday reported better-than-expected 37% jump in quarterly revenue on the back of a slew of acquisitions that helped counter a weak demand in an uncertain economic environment. Consolidated revenue for the quarter stood at Rs 1,618 crore, compared with Rs 1,183 crore a year ago.
Shriram Finance: Private equity firm Apax Partners is likely to sell its entire stake in the company through a block deal on Friday. Dynasty Acquisition (FPI), a company linked to Apax Partners, is expected to sell up to 173 lakh shares, representing 4.63% stake in the company. The deal, valued at around Rs 2,200 crore, is expected to take place at a 6% discount on Thursday’s closing price of Rs 1,312.6.
L&T Technology Services: The company has signed an agreement with parent Larsen & Toubro to acquire its Smart World & Communication business for Rs 800 crore. The acquisition is expected to be completed in three months.
One97 Communications: China’s Alibaba Group on Thursday sold 2.95% stake in Paytm parent One97 Communications through the open market for Rs 1,031 crore. It sold 1,92,00,000 shares of the company at Rs 536.95 a share, bulk deals data showed. The stake was sold at a steep discount of over 7% to Wednesday’s closing price.
PVR: The Mumbai bench of the National Company Law Tribunal (NCLT) has sanctioned the merger between cinema chains PVR and Inox Leisure. The written order is expected to come out in the next few days.
Reliance Capital: The division bench of the National Company Law Tribunal will hear on Monday (January 16) on the company’s proposed auction challenged by Torrent Investments, a bidder in the fray to acquire Anil Ambani promoted financial services company undergoing an insolvency process.
Vishnu Chemicals: The multibagger diversified chemicals stock will split in face value from Rs 10 to Rs 2 i.e. in the ratio of 1:5. The company’s stock in the last 3 years has yielded a return of 1098%. Trading at a discount of 29% from its 52-week high price, the company is into supplying global companies across steel, glass, pharmaceutical, pigments and dyes, leather and allied industries.
Heritage Foods: Vijay Kedia-held company’s board will meet to consider fundraising plans. The company primarily has two business divisions– Dairy and Renewable Energy. The annual turnover of Heritage Foods stood at Rs 2,643 crore in 2021-22 (Apr-Mar).
Hathway Bhawani Cabletel: The company’s board will meet to discuss and approve December quarter earnings. The television broadcaster is a multibagger as it has given a return of 500% in the last 3 years.
Choice International: The company in which ace investor Madhusudan Kela owns a stake, will also release its results on Friday. In the September quarter, the company’s net sales were at Rs 74.07 crore, 21% higher on a year-on-year basis.
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