Here’s a roundup of some of the key stocks to keep an eye on today, with developments across IT services, real estate, banking, and more. These stocks may influence market movements and attract investors’ attention.
Tata Consultancy Services (TCS):
India’s largest IT services firm, TCS, reported a 4.99% increase in net profit for the September quarter, reaching ₹11,909 crore. Despite this, a narrowing of profit margins restrained growth. The company’s revenues rose by 7.06%, reaching ₹64,988 crore, up from ₹60,698 crore in the year-ago period. However, compared to the June quarter, where the post-tax net profit stood at ₹12,040 crore, there was a slight dip. Investors will be watching how TCS manages the profitability in the coming quarters amid a challenging macro environment for IT services globally.
Bandhan Bank:
Bandhan Bank is set for a leadership change as the Reserve Bank of India (RBI) has approved the appointment of Partha Pratim Sengupta as the new Managing Director and Chief Executive Officer (MD and CEO). Sengupta, a veteran in the public sector banking space, will begin his three-year term by November 10, 2024, pending the formal approval from the bank’s Nomination and Remuneration Committee. His strategic direction could shape the future growth trajectory of Bandhan Bank, making it a key stock to watch.
Oberoi Realty:
The real estate giant has secured its board’s approval to raise up to ₹6,000 crore through various financial instruments. This massive fundraising initiative is expected to strengthen the company’s liquidity position and support its upcoming projects. The capital will likely be raised through private placements, such as Qualified Institutional Placements (QIP) or other eligible securities. Investors will monitor this closely to assess how the raised funds will be deployed and what impact it will have on the company’s expansion plans.
Krsnaa Diagnostics:
Krsnaa Diagnostics has secured two significant agreements that could bolster its growth in the healthcare sector. The company entered into partnerships with the Ranchi Institute of Neuro-Psychiatry & Allied Services (RINPAS) and Sadar Hospital, Ranchi, under a public-private partnership. The agreements involve the setting up, operation, and maintenance of radiology centers and pathology laboratories, strengthening the company’s foothold in diagnostic services. This development positions Krsnaa Diagnostics as a crucial stock to track for future healthcare infrastructure growth.
Mazagon Dock Shipbuilders:
The state-run Mazagon Dock Shipbuilders has secured a purchase order worth approximately ₹121.68 crore from the Maharashtra State Power Generation Company Ltd (MAHAGENCO). The project involves the supply, installation, and commissioning of an AI-based comprehensive infrasecure project at two locations. This project reinforces Mazagon Dock’s role in the defense and infrastructure space, making it an attractive stock to follow for its contract-driven growth.
Keep an eye on these stocks, as developments around them may trigger movements in the market today.