Stocks To Watch Today: Infosys, HCL, Paytm, RITES, & More

Among Infosys, HCL Tech, Mphasis, Lupin, Angel One and Anand Rathi Wealth, here are the top 10 stocks to watch today, 13th October 2023.

Infosys

In the second quarter of FY24, Infosys reported a rise in net profit of 3% year on year (YoY) to Rs 6,212 crore. In the September quarter, sales climbed 7% to Rs 38,994 crore from Rs 36,538 crore in the same quarter last year. The IT giant declared an interim dividend of Rs 18 per equity share and set October 25 as the record date and November 6 as the payment date. Operating margin increased sequentially by 40 basis points to 21.2% in Q2FY24. According to a statement from the firm, Infosys has maintained its operating margin guidance at 20% to 22%. In Q2FY24, the attrition rate decreased to 14.9%.

HCL Tech

In Q2FY24, the IT behemoth posted a consolidated net profit of Rs 3,832 crore, which was a rise of 8.43% QoQ and 9.83% YoY. The total revenue from operations was Rs 26,672 crore, up 8.04% YoY and 1.43% QoQ. An interim dividend of Rs 12 has been declared by the company's board of directors for each equity share with a face value of Rs 2. The payment of the interim dividend has a set record date of October 20, 2023. The interim dividend will be paid on October 31, 2023.

Mphasis

The company has made an acquisition of 100% in Sonnick Partners LLC, USA for a total consideration of up to USD 132.50 million.

Lupin

In order to market a generic version of Jazz Pharmaceuticals Ireland Limited's Xywav® Oral Solution, 0.5 g/mL, the company has announced that it has received preliminary authorization from the United States Food and Drug Administration (U.S. FDA) for its abbreviated new drug application for calcium, magnesium, potassium, and sodium oxybates oral solution, 0.5 g/mL. In the US, Lupin's Somerset manufacturing facility will manufacture this product.

One 97 Communications

The Reserve Bank of India fined Paytm Payments Bank Rs 5.39 crore on Thursday for failing to comply with several provisions of RBI regulations relating to Know Your Customer (KYC), cybersecurity, etc.

Angel One

The firm said on Thursday that its consolidated net income jumped by 29.4% on a quarter-on-quarter basis to Rs 10,493 million in Q2FY24 from Rs 8,111 mn in Q1FY24. It recorded an EBIDAT of Rs 4,185 million in Q2FY24 compared to Rs 3,056 mn in Q1FY24, which is a rise of 36.9% on a QoQ basis. The EBDAT margin for the quarter that ended on September 30, 2023, was 51.3%. According to the firm, net profit climbed by 37.9% on a QoQ basis to Rs 3,045 million in Q2 FY24 from Rs 2,208 mn in Q1 FY24. The Board of Directors have recommended an interim dividend of Rs 12.70 per equity share of Rs 10/- each.

Anand Rathi Wealth

Anand Rathi Wealth Limited reported a consolidated net profit of Rs 58 crores for the quarter of July through September 2023 (Q2FY24), an increase of 34% over the period of July through September 2022 (Q2FY23), and total revenue of Rs 189 crores, a rise of 37% over the same period. The company recorded a consolidated net profit of Rs 111 crores for the period of April to September 2023 (H1FY24), an increase of 34% from the same period the previous year. Total sales increased by 35% to Rs 368 crores over the same time period. The Board of Directors has announced an interim dividend of Rs 5 per equity share of the company with a face value of Rs 5 per share.

Rites

The Ministry of Railways(Railway Board), the Government has decided to grant Navratna status to RITES on Thursday.

Ircon International

On Thursday, the Department of Public Enterprise granted the Navratna Status to IRCON. IRCON will be the 15th Navratna amongst the CPSEs. IRCON is a CPSE under the Ministry of Railways with an annual turnover of Rs.10,750 Crore and net profit of Rs.765 Crore (on a consolidated basis) and an annual turnover of Rs.10,262 Crore and net profit of Rs.777 Crore (on standalone basis) for the year 2022-23, as per a stock exchange filing.

Happiest Minds Technologies

Happiest Minds Technologies Limited on Thursday announced that it is recognized among the Top 50 India's Best Workplaces for Women 2023 list released by Great Place to Work. As per a stock exchange filing, this is the third consecutive year Happiest Minds has been acclaimed for its workplace culture and inclusivity. Last year, Happiest Minds was ranked 29 in India's Best Companies to Work.