Top 10 Stocks to watch Today Tata Consultancy Services: TCS k | ACEink Official

Top 10 Stocks to watch Today

Tata Consultancy Services: TCS kicked off the earnings season on a high, concluding FY24 with a March quarter that surpassed expectations. For Q4FY24, it posted a net revenue of $7.36 billion, marking a sequential increase of 1.1%, which aligns with analysts' growth predictions of up to 1.5%.

Vedanta: The company is looking to secure a funding of ₹3,900-4,000 crore from Power Finance Corp. The company has arranged a rupee term loan facility from the government-owned lender amounting to at least ₹3,918 crore, which could extend up to ₹4,000 crore, ACCording to two individuals familiar with the matter.

Ambuja Cements, ACC: The Adani group, which owns Ambuja Cements and ACC Ltd, aims to secure approximately one-fifth of the Indian cement market by FY28. Adani Cement plans to execute its expedited capex program using internal accruals, ensuring the business remains debt-free, as per an investor presentation by Ambuja Cements. Furthermore, Adani Cement is intensifying its capacity expansion pace and anticipates a growth rate of 16 per cent to achieve 140 MTPA (million tonnes per annum) by FY2028.

Glenmark Pharmaceuticals: The company is recalling 6,528 bottles of a high blood pressure treatment drug from the US market due to "failed dissolution specifications", as per the US FDA. The US health authority, in its recent Enforcement Report, stated that the US subsidiary of the Mumbai-based pharmaceutical firm is recalling a specific batch of Diltiazem Hydrochloride extended-release capsules.

Yes Bank: Japan's Mitsubishi UFJ Financial Group (MUFJ) and Sumitomo Mitsui Banking Corp. (SMBC) are looking to secure a majority stake in Yes Bank, as per four individuals privy to the matter. Another Middle Eastern firm has also expressed interest, three of the aforementioned individuals revealed.

DLF: The company has initiated the construction of its new shopping mall in Gurugram, spanning 26-27 lakh square feet. This project, costing approximately ₹2,200 crore, is part of DLF's expansion strategy in response to the resurgence of retail consumption following the COVID-19 pandemic.

Anand Rathi Wealth: The company reported a substantial year-on-year growth of nearly 33% in its net profit, reaching ₹56.6 crore for the quarter ending in March FY24, despite lackluster operating margins. The company's revenue from operations for the quarter also increased 29% to ₹184.3 crore, compared to the same quarter last year.

PVR Inox: The multiplex operator is expanding its presence in the South, aiming to enhance its operational efficiency during a challenging period for the cinema industry due to content scarcity and reduced occupancies. "The Southern market constitutes 33 percent of our portfolio, which is 588 out of 1,741 screens. 40 percent of the screens opening in FY25 will be in the South.

Aster DM Healthcare: The company has announced a special dividend of ₹118 per share. This announcement comes in the wake of the company receiving proceeds from the sale of its GCC business and the redemption of redeemable preference shares that were issued to the company by Affinity Holdings, which is a wholly owned significant subsidiary of the company.

Varun Beverages: The company has commenced the production of carbonated soft drinks and energy drinks at its facility in Gorakhpur, Uttar Pradesh, according to an exchange filing on April 13. As of December 31, 2023, the company boasts 40 state-of-the-art manufacturing facilities, with 34 in India and 6 abroad.

Shilpa Medicare: Shilpa Medicare Ltd, a manufacturer of Active Pharmaceutical Ingredients (API), has successfully raised ₹500 crore via a Qualified Institutional Placement (QIP), as per a filing on April 13. The company's board sanctioned the allocation of 1.09 crore equity shares, each with a face value of Re 1, to qualified institutional purchasers.
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