Stocks to Watch: TCS, Tata Elexi, Asian Paints, Power Grid Corp, Sula Vineyards and more

2 min read | Updated on July 11, 2024, 09:30 IST

SUMMARY

Indian markets are expected to react to a slew of developments from the global front to domestic triggers. The Global markets continue their buoyancy, with major global indices like NASDAQ, S&P500, and Japanese Nikkei touching new life-time highs. On the domestic front, Q1 earnings will take centre stage, with IT major TCS's results expected to be out today.

TCS, Tata Elxsi, Asian Paints, Power Grid Corp will be in focus

Indian markets are expected to open higher on Thursday, taking cues from positive global markets. The Asian markets are trading higher on Thursday morning in line with peer global indices amid optimism around the US Federal Reserve's rate cut. The Japanese, Chinese & Korean benchmark indices are trading nearly 1% higher.

The US markets closed 1% higher on Wednesday as the probability of rate cuts in September policy jumped to 70%, up from 50% a month ago. The Dow Jones, S&P 500 & NASDAQ closed to near all-time high levels on Wednesday. The Dow Jones futures are trading a little lower on Thursday morning ahead of the CPI data release late in the evening.

Stocks to watch

Power Grid Corporation of India board approved an increase in borrowing limit from ₹12,000 crore to ₹15,000 crore for FY25 on Wednesday.

Asian paints in an exchange filing confirmed a price hike of 1% across its portfolio of products with effect from July 22 2024.

Sula Vineyards reported its record revenue for Q1 with an increase of 9.7% YoY to ₹130 crore. At the same time, the wine tourism revenue declined by 2.5% YoY to ₹11 crore.

Glenmark Pharmaceuticals and Glen Saldanha will sell a 7.8% stake in Glen Lifesciences via an offer for sale at a floor price of ₹810 per share. The OFS will open on July 12 for retail investors.

Tata Elxsi reported a 9% rise in total revenue for Q1FY25 to ₹926 crores vs ₹850 crores in the previous year's same quarter. The net profit for the quarter declined by 3% to ₹184 crore for the quarter as against ₹189 crore in Q1FY24.

Shares of Tata Consultancy services will remain in focus as the IT bellwether results are expected to be announced post-market hours on Thursday.

About The Author

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

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