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Stocks to Watch Today: ACC, HCL Technologies, Adani Group and Jindal Stainless

·3-min read

Indian stock markets are likely to open lower on Tuesday following mixed trends in global peers and concerns over the resurgence of coronavirus cases in many countries. At 7:10 am, Singapore-traded SGX Nifty, which serves an early indicator of India’s Nifty was trading 20.50 points or 0.13 percent lower at 15,721.00, indicating a negative start for Dalal street, cnbctv18.com reported.

Top stocks to look for the day:

HCL Technologies: The company’s Q1FY22 consolidated net profit rose to Rs 3,214 crore from Rs 2,962 crore in Q1FY21. While revenue increased to Rs 20,068 crore from Rs 19,642 crore, QoQ. The company maintained FY22 constant currency revenue growth guidance of double digits and Earnings before interest and taxes (EBIT) margin guidance of 19-21 percent.

LIC Housing Finance: The company has approached the Securities Appellate Tribunal (SAT) with regard to its proposal of allotting over 4.5 crore preferential shares to the parent company,Life Insurance Corporation (LIC).

ACC: The company reported a higher profit at Rs 533.8 crore in Q2CY21 against Rs 268 crore in the corresponding period last year. Revenue jumped 49.4 percent to Rs 3,884.8 crore from Rs 2,600.8 crore YoY.

Jindal Stainless: The company has inked a deal with Tata Steel Mining for mining of common boundary in Sukinda, Odisha.

Adani Group Stocks: The company has clarified saying it has not received any communication or information requests recently from the Securities and Exchange Board of India (SEBI) and the Directorate of Revenue Intelligence (DRI) show cause notice issued about five years back.

Zen Technologies: The defence training solutions company secured an export order of Rs 120 crore.

Mastek: The Indian multinational technology company’s Q1FY22 net profit fell to Rs 15.49 crore from Rs 36.81 crore in Q1FY21. Revenue rose to Rs 516.47 crore from Rs 386.06 crore, YoY.

CreditAccess Grameen: The company has raised USD 25 million (approx. Rs 187 crore) debt from the Swedish development finance institution – Swedfund International, through the external commercial borrowing route.

Reliance Infrastructure: The company has raised Rs 550.56 crore through the issuance of securities on a preferential basis to its promoter group and Varde Investment Partners, LP. After the due process of allotment, the holding of the promoter group in Reliance Infra would increase to 22.06 percent upon full conversion of warrants.

Voltas: The consumer durables major on Monday said it has appointed Jitender P Verma as its chief financial officer (CFO).

Nippon Life India Asset Management: The company’s Q1FY22 consolidated profit rose to Rs 181.54 crore from Rs 156.30 crore in Q1FY21. Revenue increased to Rs 302.27 crore from Rs 233.12 crore, YoY.

Zuari Agro Chemicals: The company has resumed production of NPK-B Plant at Goa.

Dhanlaxmi Bank: The private lender announced a strategic alliance with SMC Global Securities for offering online trading services to customers.

Earnings Today: Asian Paints, Arihant Superstructures, Bajaj Finance, CRISIL, ICICI Prudential Life Insurance Company, ICICI Securities, India Tourism Development Corporation, JSW Ispat Special Products, Jubilant Ingrevia, Kohinoor Foods, DCM Shriram, Mangalam Organics, Newgen Software Technologies, Rane (Madras), Reliance Industrial Infrastructure, Shyam Metalics and Energy, Syngene International, among others will release their quarterly earnings on July 20.

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