return to news
  1. Stocks to watch on October 10: TCS, IREDA, Adani Enterprises, Tata Elxsi, Star Health Insurance and more

Market News

Stocks to watch on October 10: TCS, IREDA, Adani Enterprises, Tata Elxsi, Star Health Insurance and more

Upstox

5 min read | Updated on October 10, 2024, 08:16 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

The earnings season will officially kickstart today as India Inc will start releasing their September quarter results. Some of the prominent names that are slated to declare their Q2 results today are TCS, Tata Elxsi and IREDA, Den Networks, and Anand Rathi Wealth. 

Stock list

Britannia Industries and French dairy major Bel Group on Wednesday announced the inauguration of its cheese factory in India at an investment of ₹220 crore.

Britannia Industries and French dairy major Bel Group on Wednesday announced the inauguration of its cheese factory in India at an investment of ₹220 crore.

Stocks to watch: At 7:55 am, the GIFT NIFTY futures were trading 3.50 points, or 0.01%, higher at 25,192 levels. This, as per publicly available information, indicates that the NIFTY50 index will open 108 points higher. 

Meanwhile, a sombre news. Veteran industrialist and Chairman Emeritus of the Tata Group, Ratan Tata, passed away at a Mumbai hospital late on Wednesday night. He was 86.

At 4:00 p.m., the mortal remains will embark on their final journey to the Prayer Hall at the Worli Crematorium, Dr E. Moses Road, Worli. Mr Ratan Tata will be accorded a state funeral, Maharashtra Chief Minister Eknath Shinde announced.

Global stocks advanced on Wednesday along with US Treasury yields, as minutes from the Federal Reserve's September meeting indicated more rate cuts, while investors awaited inflation data for further clues on the central bank's interest rate path. 

Here is a list of stocks that may remain in focus today.
Earnings today: The earnings season will officially kickstart today as India Inc will start releasing their September quarter results. Some of the prominent names that are slated to declare their Q2 results today are TCS, Tata Elxsi and IREDA, Den Networks, and Anand Rathi Wealth. 

Street expects TCS to post a steady financial performance for the quarter under review with around 2% revenue growth sequentially. The company is also slated to consider a declaration of a second interim dividend to the equity shareholders.

Growth in the IT sector is anticipated from increased momentum, strong performance in North America, and positive trends in BFSI and healthcare. A rise in technology spending is expected in H2CY25, supported by potential interest rate cuts (two 25 bps each from the U.S. Fed), but this depends on macroeconomic stability. The sector is also benefiting from generative AI investments.

Adani Enterprises: Adani Enterprises, the flagship firm of Gautam Adani's conglomerate, on Wednesday approved a ₹16,600 crore share sale to large investors via a qualified institutional placement (QIP) issue. In a regulatory filing, the company said its board has set the floor price for the issue at ₹3,117.47 apiece. The QIP issue opened Wednesday, and the company has the discretion to offer a discount of up to 5% on the floor price, as per a PTI report. 
Vedanta: The mining major said on Wednesday the board meeting proposed to be held on October 9 to consider and approve the fourth interim dividend for 2024-25 has been cancelled due to 'unforeseen circumstances'.
GR Infraprojects Ltd. won a contract from Maharashtra Metro Rail Corp. Ltd., Nagpur, on Wednesday for the construction of a metro project worth ₹904 crore.
Rashtriya Chemicals and Fertilizers (RCF), L&T: As per news reports, Rashtriya Chemicals and Fertilizers (RCF) has awarded a contract worth ₹1,000.3 crore to L&T for setting up a 1200 MTPD complex fertilizer plant.
Britannia: Homegrown food company Britannia Industries and French dairy major Bel Group on Wednesday announced the inauguration of its cheese factory in India at an investment of ₹220 crore. Britannia Bel Foods, the joint venture between both firms, has opened a new factory in Ranjangaon, near Pune in Maharashtra, which will produce 10,000 tonnes of high-quality Britannia The Laughing Cow cheese products to meet the growing demands of Indian consumers, according to a statement.
Patanjali Foods: Patanjali Ayurved's subsidiaries were directed by the Arbitration Tribunal to give 1.86 crore marketable equity shares of Patanjali Foods Ltd. to Ashav Advisory LLP, according to an exchange filing on NSE.The shares are to be given to Ashav Advisory within a period of 90 days.

"Ashav Advisory is to pay the subsidiary companies: Patanjali Ayurved Ltd., Patanjali Parivahan Private Ltd., Divya Yog Mandir Trust, Patanjali Gramudhyog Nayas, and Patanjali Foods within seven days of receiving the shares," said a report by NDTV Profit. 

Infosys: IT giant Infosys on Wednesday announced the expansion of its partnership with Microsoft to help drive global customer adoption of generative AI and Microsoft's cloud platform Azure.

Additionally, Infosys will also act as a strategic supplier to support cloud and AI workloads for Microsoft’s enterprise customers.

Star Health Insurance: Personal data like mobile numbers, PANs, addresses, and pre-existing medical conditions of about 3.1 crore customers of Star Health Insurance is allegedly available on a website created by a hacker identified as xenZen. PTI reported that the hacker claimed that Star Health's Chief Information Security Officer (CISO) sold all the data and later tried to change the terms of their deal.
Ola Electric Mobility: Reports say that given the electric two-wheeler major failing to address over 10,600 consumer complaints over the past year, the company may face a class action suit by the consumer affairs ministry under the Central Consumer Protection Act (CCPA).
PNC Infratech: The infrastructure company said on Wednesday it has been declared the lowest (L1) bidder by the City & Industrial Development Corporation of Maharashtra (CIDCO) for an engineering, procurement, and construction (EPC) project.
Uplearn

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

Next Story