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Stocks to watch on July 19: Paytm, Oberoi Realty, RIL, Infosys, Mastek, Patanjali Foods
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4 min read | Updated on July 19, 2024, 08:55 IST
SUMMARY
Infosys on Thursday reported a 7% rise in consolidated net profit at ₹6,368 crore in the April-June quarter and raised its growth outlook for the current financial year, signalling an improvement in the IT segment.
Stock list
On Thursday, the indices settled at record closing highs, driven by IT stocks.
At 07:10 AM, the Gift Nifty futures traded 17 points or 0.07% higher at 24,835.5 levels, indicating a flat-to-positive start for domestic equities on Friday, July 19. On Thursday, the indices settled at record closing highs, driven by IT stocks. The Sensex closed at 81,343.46, up 627 points, or 0.78% and the Nifty ended at 24,800.85, up 186 points, or 0.76%.
Here is a list of stocks that may trade actively in today's session:
Infosys: The IT services major on Thursday reported a 7% rise in consolidated net profit at ₹6,368 crore in the April-June quarter and raised its growth outlook for the current financial year, signalling an improvement in the IT segment. With improvement in business, Infosys has shared plans to hire 15,000-20,000 freshers depending on the growth during the year. The consolidated revenue of Infosys increased by 3.6%to ₹39,315 crore during the reported quarter from ₹37,933 crore a year ago.
For the current fiscal year, the company raised its revenue growth guidance to 3-4% in constant currency terms from 1-3% projected earlier. The company has been reporting continuous decline in headcount since March 2023 quarter.
Earnings today: Reliance Industries (RIL), Paytm, Patanjali Foods, Wipro, JSW Energy, JSW Steel, Indian Hotels, and Oberoi Realty, among others are slated to release their June quarter earnings today.
Tata Technologies: Global engineering and product development digital services firm Tata Technologies Ltd on Thursday reported a 15.4% decline in consolidated profit after tax at ₹162.03 crore in the June 2024 quarter, impacted by higher expenses. The company had posted a consolidated profit after tax (PAT) of ₹191.53 crore in the same quarter last fiscal, Tata Technologies Ltd said in a regulatory filing. Consolidated revenue from operations in the first quarter stood at ₹1,268.97 crore as against ₹1,257.53 crore in the year-ago period, it added.
Polycab: Wires and cables maker Polycab India Ltd on Thursday reported a marginal decline in consolidated net profit to ₹401.62 crore in the June 2024 quarter, impacted by higher expenses. The company had posted a consolidated net profit of ₹403.16 crore in the same period last fiscal, Polycab India said in a regulatory filing. Consolidated revenue from operations stood at ₹4,698 crore in the first quarter as against ₹3,889.38 crore in the year-ago period, it added.
Tata Communications on Thursday posted a 12.8% decline in June quarter net profit due to a drop in earnings from voice solutions and data services. Consolidated net profit -- attributable to equity holders of the parent firm -- came in at ₹332.84 crore in the April-June period, compared with ₹381.69 crore in the year-ago period, the company said in a stock exchange filing. While the revenue from data services was up, the pre-tax earnings dropped 22.7% year-on-year to ₹291.09 crore in the June quarter -- the first of the current fiscal year, the filing showed.
Mastek: The IT firm on Thursday reported a 53.2% jump in its consolidated net profit to ₹22.5 crore for the first quarter ended June 30, 2018. The company had posted a net profit of ₹14.7 crore in the corresponding year-ago period, Mastek said in a BSE filing. Its consolidated income from operations was up by 31.5% to ₹244 crore in April-June 2018 quarter as against ₹185.6 crore in the year-ago period.
L&T Technology Services (LTTS) on Thursday reported a 1% increase in post-tax profit for the June quarter at ₹314 crore as profitability declined. The engineering services arm of L&T had reported a net profit of ₹311 crore in the year-ago period, but the profit after tax (PAT) was 8% down when compared with the preceding March quarter. Its overall revenues grew 7% to ₹2,462 crore from ₹2,301 crore in the year-ago period, but were 3% down when compared with the quarter-ago period's ₹2,538 crore.
Persistent Systems: The Pune-based mid-tier IT firm on Thursday, as per reports, reported a 33.9% increase in net profit to ₹306.41 crore for the quarter to June, from ₹228.76 crore a year ago. Sequentially, net profit fell 2.8% from ₹315.3 crore in the previous three-month period.
HAL: The company has signed an amendment to Memorandum of Understanding (MoU) with Aeronautical Development Agency (ADA) w.r.t. completion of LCA AF Mk-2 development leading to operation clearance during Full Scale Engineering Development (FSED) Phase-3 of LCA AF Mk-2 program for a value of ₹ 2,970 crore including FE of ₹ 285.00 crore.
Tech Mahindra: The company said in its BSE filing that a Plan of Merger of vCustomer Philippines (Cebu), Inc., a wholly-owned step down subsidiary of the company with its parent company viz. vCustomer Philippines Inc., a wholly-owned subsidiary of the company, has been approved by the respective companies on Thursday, July 18, 2024.
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