Stocks in the News: TCS, Adani Enterprises, AR Wealth, Aster DM, Reliance Power and more

ndian stock indices settled lower on Friday on weak global cues. The BSE barometer Sensex tumbled 793.25 points, or 1.06 per cent, to end at 74,244.90. The NSE Nifty50 plunged 234.40 points, or 1.03 per cent, to close at 22,519.40. Here are the stocks that may remain under spotlight before the opening bell on Monday, April 15, 2024:

Q4 Results today: GTPL Hathway, Hathway Bhawani Cabletel & Datacom, Rajoo Engineers, Atam Valves, Shekhawati Poly Yarn, Ontic Finserve, Sybly Industries and Hit Kit Global Solutions are among the companies that will announce their earnings for the March 2024 quarter later today.

Tata Consultancy Services: The IT major reported a consolidated net profit of Rs 12,434 crore in the March 2024 quarter, up 9 per cent on a year-on-year (YoY) basis. Revenue from operations rose 3.5 per cent to Rs 61,237 crore.

Adani Enterprises: Adani Global, Mauritius, a wholly owned subsidiary of the company, has executed a shareholders’ agreement for acquiring a 49 per cent stake in Adani Easysoft Smart Solutions, Abu Dhabi, from Easysoft Holding, UAE. Adani and Easysoft Holding will hold 49 per cent and 51 percent of Adani Easysoft Smart Solutions.

Anand Rathi Wealth: The wealth management company reported about 33 per cent year-on-year growth in net profit at Rs 56.6 crore for the quarter ended March FY24, despite weak operating margin performance. Revenue from operations for the quarter grew by 29 per cent to Rs 184.3 crore compared to the same period last year.

Aster DM Healthcare: The healthcare company has declared a special dividend of Rs 118 per share after the receipt of proceeds from the sale of the GCC business and redemption of redeemable preference shares issued to the company by Affinity Holdings, a wholly owned material subsidiary of the company.

Mphasis: The IT solutions provider has signed a multi-year global strategic collaboration agreement (SCA) with Amazon Web Services (AWS). The collaboration will enable the launch of Gen AI Foundry, led by Mphasis.AI for the financial services industry.

Varun Beverages: The packed-drinks company has started commercial production of carbonated soft drinks and energy drinks (juices and value-added dairy products to be started) at its production facility in Gorakhpur, Uttar Pradesh.

Coforge: The IT services company has received approval from shareholders to raise funds via qualified institution placement.

IIFL Finance: The board of directors of the financial company will be meeting on April 17 to consider the specific terms of the rights issue, such as the rights issue price and related payment mechanism, the rights entitlement ratio, the record date, and the timing of the rights issue. In March, the board approved fund raising up to Rs 1,500 crore via rights issue.

Ami Organics: The company has received approval from the board of directors for raising funds up to Rs 500 crore through the issuance of equity shares or other eligible securities by way of a qualified institution placement (QIP).

Granules India: The US Food and Drug Administration (US FDA) inspected Unit V facility of the drug maker at Visakhapatnam during April 8 and April 12 and concluded the said audit with zero 483s. This audit was a pre-approval inspection (PAI) and cGMP audit for active pharmaceutical ingredients (APIs) and formulations (FDs), oncology and non-oncology.

Sterlite Technologies: The tech-firm has raised Rs 1,000 crore via a qualified institution placement (QIP) issue as it has allotted 8,84,56,435 equity shares to eligible qualified institutional buyers at an issue price of Rs 113.05 per share.

Reliance Power: the Anil Ambani firm has concluded the transfer of its 45 MW wind power project at Vashpet, Maharashtra, to JSW Renewable Energy (Coated) for Rs 132.39 crore as per the Business Transfer Agreement.