Stocks to watch, July 28: Coforge, Happiest Minds, HUL, Coal India, HDFC Bank, IndiGo, Tata Power, L&T

The domestic equity market is expected to open lower on Tuesday, July 28. The GIFT NIFTY futures suggest that the NIFTY50 index will open 65 points lower.

Besides, warning letters were issued to the remaining employees involved in the case related to garnering large deposits from MSRDC between 2017 and 2021 by allegedly paying about Rs 45 crore under the marketing spends head.

The action comes soon after the appointment of former Chief Election Commissioner and Finance Secretary Rajiv Kumar as part-time chairman of the bank.

Gaurav Negi, who is currently the Chief Financial Officer (CFO), has been re-designated as Advisor to the Managing Director, according to a regulatory filing.

Currently, the Deputy Chief Financial Officer, Thadimarri, will take over as the Chief Financial Officer from July 28.

A chartered accountant, Thadimarri has diverse experience of over 24 years and has worked at various companies, including InterGlobe Enterprises, Udaan and General Electric Company.

NSE filing data showed that BEL posted a 9% increase in its consolidated net profit to ₹1,054.34 crore in the first quarter of the financial year 2026-27, compared year-on-year (YoY) with ₹969.91 crore in the same period a year earlier.

The company’s revenue from core operations surged 25% YoY to ₹5,546.98 crore in the June quarter of the current fiscal year, compared with ₹4,439.74 crore in the same period a year earlier.

The details further showed that BEL’s order book position as of July 1, 2026, was at ₹72,258 crore, according to the exchange filing.

"Our consolidated Q1 margins have come ahead of our annual margin guidance. The 414 bps YoY expansion in EBIT margin and 285 bps YoY expansion in EBITDA margin reflect the impact of AI infusion at scale in client delivery and internal operations. With the Encora acquisition completely operationally integrated and with strong demand, record visibility, and a rapidly expanding pipeline of AI-led opportunities, FY27 is shaping up to be an exceptional performance year for the firm," it added.

The company's board has also recommended an interim dividend of ₹4 per share, and the record date for this payout will be August 03, 2026.

Its net profit stood at ₹316 crore in the year-ago period.

The company's total income rose to ₹4,311 crore in the first quarter of this fiscal from ₹3,815 crore in the corresponding period of the preceding year, according to a regulatory filing.

Tata Chemicals, which is part of business conglomerate Tata Group, is a leading supplier to the glass, detergent, industrial and chemical sectors.

The company has a strong presence in the crop protection business through its subsidiary company, Rallis India.

Tata Chemicals has R&D facilities in Pune and Bangalore.

The company had posted a consolidated net profit of ₹83.75 crore in the corresponding quarter last fiscal, JK Paper said in a regulatory filing.

Its consolidated revenue from operations in the first quarter was ₹1,998.67 crore against ₹1,771.78 crore in the year-ago period, it added.

Total expenses in the quarter under review were higher at ₹1,736.03 crore compared to ₹1,567.55 crore in the year-ago period, the company said.

"While the paper and board market remained challenging, higher volume and improved product mix led to better performance during the current quarter as compared to the corresponding period," JK Paper Chairman and Managing Director Harsh Pati Singhania said.

The company's packaging conversion businesses have also done well in terms of revenue and profit, Singhania added.

The funds raised will be utilised among other things for refinancing of existing loans, an exchange filing stated.

According to the filing, the Board of Directors at its meeting held on Monday has approved issuance in one or more series/tranches, non-cumulative, redeemable, taxable, listed, and rated securities in the form of NCDs/bonds/other debt securities up to an aggregate amount not exceeding ₹4,500 crore (Debt Securities) or its equivalent in one or more currencies on a private placement basis.

The proposal was earlier approved by shareholders at the annual general meeting held on July 4, 2025.

Besides, the company said it will set up a solar wafer/ingot plant on the Tata Steel SEZ land in Odisha.

Earlier, there were discussions about whether the plant would be set up in Odisha or Andhra Pradesh.

Now, it is finalised that the plant will be set up in Odisha.

In a post-earnings call, Tata Power CEO Praveer Sinha said the solar wafer/ingot plant will be set up in Odisha on acquired Tata Steel SEZ land.

The company had posted a net profit of ₹356.28 crore during the April-June period a year ago, according to a regulatory filing from Godfrey Phillips India, the flagship company of Modi Enterprises.

"Due to the steep tax increase implemented in Q4 of FY26, the profitability has declined by 44 per cent compared to the corresponding period last year," said its Chief Executive Officer Sharad Aggarwal in the earnings statement of the company.

Its revenue from operations increased two-fold to ₹3,819.56 crore during the June quarter of FY'27. It was at ₹1,813.26 crore in the corresponding period of the previous fiscal.

The company had posted a net profit of ₹57.13 crore in the corresponding quarter of FY26, according to a regulatory filing.

Revenue from operations grew 14.3% to ₹628.51 crore during the quarter under review, as compared to ₹549.9 crore in the year-ago period.

Seen sequentially, profit and revenue rose 10.5% and 4%, respectively.

"We have opened FY27 with a solid performance. Our AI-first strategy is gaining significant traction, with strong momentum across AI and analytics, digital engineering, platforms, and industry-focused solutions. We have also built a strong and expanding pipeline, registering a 20% growth over the previous quarter," Happiest Minds CEO Joseph Anantharaju said.

The CEO said the quality and breadth of opportunities in the firm's pipeline instils in him confidence to deliver sustained business growth.

As of June 30, 2026, the company has 6,532 employees across 16 countries.