Stocks to Watch: TCS, Adani Energy, Infosys, India Cements, Bajaj Auto

Here is the list of the top 10 stocks in the spotlight today:

Tata Consultancy Services: TCS net profit for Q2 FY23 was up 8% to 10,431 crore from last year’s quarter and the company also announced a second interim dividend of 8 per share. TCS shares closed nearly 2% higher 3,121 each on the BSE ahead of Q2 results. TCS said it saw some softness in long-term deal decision-making after India’s largest IT exporter today reported a larger-than-expected increase in second-quarter earnings.

Stainless Steel Wind/Adani Green: Inox Wind, through its subsidiary Inox Green Energy Services Limited (IGESL), has sold its entire equity interest in three special purpose vehicles (SPVs) – Wind One Renergy Ltd, Wind Three Renergy Ltd and Wind Five Renergy Ltd to Adani Green Energy Limited, a subsidiary of of the Adani Group. Following the transaction, IGESL will provide long-term operations and maintenance services for these projects.

infosys: India’s second-largest IT services company Infosys Ltd will consider a buyback proposal when its board of directors meets on Oct. 13, the company has informed exchanges. The outcome of the board meeting will be distributed to the exchanges after the board meeting on October 13, 2022, the company said. Infosys will also announce its financial results for the September quarter (Q2FY23) on October 13. The company’s board of directors will also consider its first interim dividend for FY23.

Bajaj Auto: Bajaj Auto Ltd said Monday that it has repurchased more than 64 lakh shares from public shareholders for: 2,499.97 crore under share buybacks. The company, which had begun its share repurchase on July 4, 2022, said its buyback committee at Monday’s meeting approved the completion and closure of the exercise as of October 10, 2022. back 64,09,662 shares, using a total amount of 2,499.97 crore.

Adani Gates: Adani Ports and Special Economic Zone Ltd, India’s largest port and logistics company, said Monday it has received approvals from the National Company Law Tribunal (NCLT) to acquire the remaining 58.1 percent stake in Gangavaram Port Limited . With this share purchase, GPL will become a 100 percent subsidiary of Adani Ports and Special Economic Zone Ltd (APSEZ).

India CementIndia Cements Ltd said Monday it has entered into a pact to sell its entire stake in Springway Mining Private Limited (SMPL) to JSW Cement for a total consideration of 476.87 crore. SMPL owns limestone soil in Panna district and is in the process of setting up a cement factory in Damoh district of Madhya Pradesh. Consequently, SMPL is no longer a wholly owned subsidiary of ICL, it added.

GRP Power and Infrastructure: GVK Power & Infrastructure said the National Company Law Tribunal (NCLT) Hyderabad Bank has admitted a petition for insolvency proceedings filed Monday by Axis Bank against its arm GVK Power (Goindwal Sahib) Ltd. GVK Power (Goindwal Sahib) Ltd operates a 540 MW (2X270 MW) coal-fired thermal power plant near the village of Goindwal Sahib in the Tarn Taran district of Punjab. Unit 1 was commissioned on April 1, 2016, while Unit 2 was made operational on April 14, 2016.

Miracle Cure Biotech: Biotechnology company Panacea Biotec said Monday it has a long-term supply order worth USD 127.3 million (more than 1,040 crore) from UNICEF and the Pan American Health Organization for the supply of its pentavalent vaccine Easyfive-TT. UNICEF’s order is valued at USD 98,755 million (approximately 813 crore) for the delivery of 99.7 million doses during the calendar years 2023-2027, Panacea Biotec said in a statement.

NMDC: State mining giant NMDC has left lump and fine prices unchanged for the third time in a row. In a regulatory filing on Monday, NMDC said it has set lump prices at 4,100 per tonne and that of fines on 2,910 tons as of October 8, 2022. Iron ore is one of the most important raw materials for steel production. Any movement in mineral prices has a direct impact on steel prices, which has been a concern for manufacturing industries in recent months.

JSW Steel: JSW Steel has reported 12 percent year-over-year growth in its combined steel production to 5.68 million tons (MT) in the quarter ended September 2022. In the same period last year, combined steel production was 5.07 MT, JSW Steel reports this in a statement. “JSW Steel reported that its group’s combined crude steel production was 5.68 million tons, a 12 percent year-over-year growth, including production at jointly controlled entities,” it said.

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