Stocks To Watch: Infosys, TCS, HDFC AMC, Wipro, HCL, RITES, PCBL & More

On Friday, January 12th, popular stocks such as Infosys, TCS, Wipro, HCL Tech, and RITES are among the top ten stocks anticipated to attract market attention.

PCBL

On January 11, 2024, PCBL Limited formed a new wholly-owned subsidiary company, Advaya Chemical Industries Limited, with an initial paid-up share capital of Rs. 5 crores.

Infosys

On Thursday, Infosys reported its December quarter (Q3FY24) results. The company reported a consolidated net profit of Rs 6,106 crore, a 7.3 per cent drop from Rs 6,586 crore in the same quarter of the previous year. Its consolidated revenue remained steady, climbing by only 1.3 per cent to Rs 38,821 crore from Rs 38,318 crore in Q3FY23. Infosys reduced its FY24 sales projection to 1.5%-2.0% while maintaining its operating margin guidance of 20%-22%.

TCS

Tata Consultancy Services (TCS) declared a net profit of Rs 11,058 crore for the quarter ended December 31, 2023 on January 11, up 2% from Rs 10,846 crore in the same quarter last year. TCS said in an exchange declaration that consolidated revenue climbed 4 per cent YoY to Rs 60,583 crore in Q3FY24 from Rs 58,229 crore in Q3FY23. TCS's headcount fell by 5,680 in the third quarter of the current fiscal.

HDFC AMC

HDFC Asset Management Company Ltd (HDFC AMC) reported a 32% year-on-year increase in profit after tax (PAT) to Rs 488 crore for the third quarter of FY 23-24, compared to Rs 369.2 crore in the same quarter of the previous financial year. HDFC AMC stated in an exchange filing that its consolidated revenue increased by 20% year on year to Rs 671.3 crore in Q3FY24 from Rs 559.6 crore in Q3FY23. The AMC ended the quarter with Rs 5.75 lakh crore in assets under management. Quarterly Average Assets Under Management (QAAUM) were Rs 5.51 lakh crore.

Wipro

On January 12, Wipro will release its Q3 earnings report for FY24. As a result, its stock price will be in focus.

HCL Tech

HCL Technologies, India's third-largest IT services company, will release its third-quarter earnings today. Today's focus will be on HCL Technologies' FY24 outlook, share price, and attrition.

Quess Corp

Quess Corp announced the signing of a Memorandum of Understanding (MoU) with the Department of Gujarat Technical University. The cooperation aims to help anticipate, create, and discover programmes to satisfy the state's talent requirements, therefore positively contributing to increased investments and Gujarat's Sustainable Vision for 2030.

5paisa Capital

The firm said on Thursday that its Q3FY24 Consolidated income was Rs. 100.3 Crore, up 20% year on year, and for nine months FY24 at Rs. 281.9 Crore, up 14% year on year, while Q3FY24 Consolidated profit after tax was Rs. 15.1 Crore, up 37% year on year, and for nine months FY24 at Rs. 48.7 Crore, up 67% year on year. During the quarter, the firm added 2.32 lakh new consumers, bringing the total number of registered customers to 3.96 million.

At the consolidated level, total income climbed by 20% year on year, while operating expenses increased by 16% year on year, resulting in a total comprehensive income of Rs. 15.0 Cr for the quarter, a 37% year on year rise.

RITES

RITES Limited, a Navratna Public Sector Enterprise, has won the CEAI National Award in the category of 'Engineering Innovation' for its Project Management Consultancy for the Bogibeel Bridge. RITES provided Concept-to-Commissioning services, including Planning, Hydraulic and Structural Design, and Designer Association services, during the construction and completion of the Bogibeel Bridge in Dibrugarh, Assam, India's longest rail-cum-road bridge. This award demonstrates RITES' dedication to infrastructure development and nation-building.