Several stocks will remain in focus today after earnings announcements, acquisitions, project wins and corporate developments. HCL Technologies, ICICI Prudential AMC, Nuvoco Vistas, SBI, Grasim Industries and Welspun Enterprises are expected to attract investor attention.
Several stocks are expected to remain in focus on Dalal Street today after reporting quarterly earnings, announcing major acquisitions, securing large orders, and receiving key regulatory updates. HCL Technologies, ICICI Prudential Asset Management Company, Nuvoco Vistas, Biocon, State Bank of India, Grasim Industries and Welspun Enterprises are among the prominent names likely to attract investor attention.
HCL Technologies Posts Strong Q1 Earnings
HCL Technologies reported a robust set of first-quarter numbers on a year-on-year basis. The IT major's consolidated net profit rose 20.3 per cent to ₹4,624 crore from ₹3,843 crore in the corresponding quarter last year.
Revenue increased 13.9 per cent to ₹34,579 crore compared with ₹30,349 crore a year ago. Earnings before interest and tax (EBIT) climbed 18 per cent to ₹5,831 crore, while EBIT margin improved 58 basis points to 16.86 per cent from 16.28 per cent.
The company's dollar revenue also grew 2.96 per cent to ₹3,650 crore from ₹3,545 crore in the year-ago period. The board declared an interim dividend of ₹12 per equity share for FY27.
ICICI Prudential AMC and Nuvoco Vistas Deliver Healthy Quarterly Performance
ICICI Prudential Asset Management Company reported a strong first quarter, with net profit rising 23.1 per cent year-on-year to ₹964.6 crore from ₹783.6 crore. Revenue increased 17.6 per cent to ₹1,564.2 crore compared with ₹1,330.7 crore in the corresponding quarter last year.
Nuvoco Vistas Corporation also posted healthy earnings. The cement maker's consolidated profit increased 20 per cent to ₹159.8 crore from ₹133.2 crore, while revenue rose 8.9 per cent to ₹3,128.7 crore from ₹2,872.7 crore.
Biocon, SBI and Timken India in Focus
Biocon will be closely watched after reports suggested that Mylan Inc is likely to sell its entire 5.64 per cent stake through block deals at a floor price of ₹378.50 per share.
State Bank of India is in focus as its subsidiary, SBI Funds Management, opened its ₹9,813 crore initial public offering for public subscription. Ahead of the IPO, the company raised ₹2,663 crore from anchor investors, including BlackRock, Abu Dhabi Investment Authority, Morgan Stanley, Goldman Sachs, Citigroup, Capital Group, the Government of Singapore, Fidelity, Societe Generale, the Massachusetts Institute of Technology, insurance companies and several domestic mutual funds.
Timken India received Bureau of Indian Standards (BIS) licences for two product categories across two manufacturing facilities, strengthening its manufacturing credentials.
EMS, Alembic Pharma, Welspun Enterprises and Emcure Announce Key Developments
EMS emerged as the lowest bidder for a sewerage project worth ₹105.81 crore from UP Jal Nigam (Urban), Varanasi.
Alembic Pharmaceuticals disclosed that the US Food and Drug Administration issued a warning letter to the clinical investigator associated with a bioequivalence study conducted at its facility. The company clarified that the observations relate to informed consent procedures and do not concern data integrity.
Welspun Enterprises' subsidiary, Welspun Pune Shirur Projects, signed a sub-concession agreement with the Maharashtra State Infrastructure Development Corporation and the Maharashtra government for the ₹7,300 crore Pune-Shirur highway project.
Emcure Pharmaceuticals executed share transfer agreements to acquire the remaining 12.05 per cent stake in Gennova Biopharmaceuticals for ₹231.87 crore. Upon completion, Gennova will become a wholly-owned subsidiary of Emcure.
Grasim, PDS, TBO Tek and Butterfly Gandhimathi Also Remain on Radar
PDS secured a Sourcing as a Service (SaaS) contract with the global sourcing arm of a leading French-headquartered supermarket retailer to manage textile sourcing operations across Bangladesh, Pakistan, India, Sri Lanka and Turkey.
Grasim Industries announced that its subsidiary, Aditya Birla Renewables, approved the acquisition of 100 per cent stake in Solenergi Power Private Limited from Shell Overseas Investment BV for ₹17,200 crore. The acquisition includes Sprng Energy Private Limited and Sprng Solar Plus Private Limited, significantly strengthening the company's renewable energy portfolio.
TBO Tek may remain under pressure after Augusta TBO (Singapore) Pte sold a 2.04 per cent stake through open market transactions, reducing its holding to 3.5 per cent.
Butterfly Gandhimathi Appliances received a patent for its "Improved Safety Knob for Gas Cooktops", valid for 20 years from December 29, 2021, providing an intellectual property boost to the company.
