Stocks To Watch Today: TCS, Wipro, Vedanta, Patanjali Foods & More

Among TCS, Wipro, Infosys, HCL Tech, and Adani Enterprises, here are the top 10 stocks to watch today on 12th October.

TCS

The board of directors of Tata Consultancy Services (TCS) approved the proposal for the buyback of up to 4.09 crore equity shares for a total of Rs 17,000 crore on Wednesday. The size of the buyback amounts to 1.12% of the total paid-up equity share capital of the corporation. By the end of the October 11th trading session, TCS also set the share buyback price at Rs 4,150 per share, which represents a premium of around 15% over the share's current market value of Rs 3,610.20 on the BSE.

For the fiscal year 2023-2024, TCS recommended a second interim dividend of Rs 9 per share. TCS has previously established October 19, 2023 as the record date for determining eligible shareholders for the second interim dividend.

The company's net profit for the September quarter climbed by 8.7% on a yearly basis to Rs 11,342 crore. While its sales in the September quarter climbed 7.9% YoY to Rs 59,692 crore.

Adani Enterprises

The company claimed that by strategically allocating 70,000 secured, unrated, unlisted, redeemable, non-convertible debentures (NCDs), it had successfully secured funding worth Rs 700 crore. According to the company, the NCDs, which have a face value of Rs 1 lakh apiece, were issued through a private placement basis.

Infosys/HCL

After TCS, both IT giants Infosys and HCL Tech are scheduled to release Q2FY24 results today after market hours.

Federal Bank

The Board of Directors of the Bank approved the allotment of 7,26,82,048 equity shares with a face value of Rs. 2 each, fully paid up, to the subscribers at the issue price of Rs. 131.91 per equity share, including a premium dated September 29, 2023, based on approval given by the Reserve Bank of India (RBI) to International Finance Corporation (IFC) for acquiring aggregate holding of up to 9.7% of the paid-up share capital of the bank.
The number of paid-up equity shares in the bank has grown from the current level of 2,35,21,72,082 equity shares to 2,42,48,54,130 equity shares with a face value of Rs. 2/- each with the allocation of the aforementioned shares.

Patanjali Foods

With single-digit YoY growth in Q2FY24 and double-digit YoY growth in H1FY24, the firm saw a spike in Edible Oil sales volume. The brand sales still dominate the edible oil market, making up more than 75% of the overall sales value. During Q2, the firm achieved considerable progress in the oil palm plantation business, including the installation of eight nurseries across five states and the growth of more than 4,500 hectares of palm plants across India. A Mega Oil Palm Plantation Drive was carried out by the corporation in seven states, encompassing a vast area of more than 2,400 hectares and providing almost 350,000 seedlings to farmers.

The firm achieved double-digit sequential growth in the Food & FMCG Segment in Q2'FY24 and a YoY rise of more than 30% in H1'FY24. The segment's contribution to its revenue in Q2 of FY24 jumped by 100 basis points from Q1 of FY24.

"The Edible Oil segment faced an ongoing pricing pressure during Q2 mainly due to excessive imports that led to elevated inventory levels, impacting both revenue and margins. The price trend observed in Q2 remained consistent with that of Q1, displaying divergent price fluctuations between the Physical and Futures markets," said Patanjali Foods in a stock exchange filing.

Tata Metaliks

Due to unforeseen events, the Board Meeting set for Thursday, October 12, 2023 has been rescheduled to October 17, 2023, a Tuesday to consider the company's audited financial results for the quarter and half year ended September 30, 2023.

Vedanta

India Ratings and Research, vide release dated October 11, 2023, has downgraded its ratings on the long-term bank facilities and debt instruments of the company to 'IND AA-' from 'IND AA' and placed these ratings on 'Rating Watch with Negative Implications' while reaffirming the ratings on the short-term debt instruments of Vedanta at 'IND A1+' and placing these ratings also on 'Rating Watch with Negative Implications', as per a stock exchange filing.

Delta Corp

Delta Corp recorded a 1.68% rise in its net profit to Rs 69.4 crore in Q2FY24 against Rs 68.25 crore reported in Q2FY23. The firm recorded a slight 0.2% growth in its consolidated revenue to Rs 270.6 crore in the second quarter of FY24 compared to Rs 270 crore in the same quarter last year. EBITDA for the company dropped by 0.1% to Rs 100.3 crore in Q2 FY24 from Rs 100.4 crore in Q2 FY23. The nomination of Anil Malani as President and Chief Financial Officer as Key Managerial Personnel of the Company was authorised by the company's board of directors. The board also authorised the hiring of Manoj Jain to replace Anil Malani as the Company's chief operating officer.

Wipro

On Wednesday, IT giant Wipro informed stock exchanges that it will announce results for the second quarter ended September 30, 2023, on Wednesday, October 18, 2023, after stock market trading hours in India.

Rail Vikas Nigam

On Wednesday, the company emerged as the Lowest Bidder (L1) for TRC: Sukhovi-Pherima: Supply, Installation, Testing & Commissioning of Integrated Tunnel Communication system in the Sukhovi-Pherima new single line section of Lumding Division. The order has been awarded by Northeast Frontier Railway /Con at a valuation of INR 28,73,92,870.84/-.