CNBC-TV18’s top stocks to watch out for on July 9

SUMMARY

The Indian market is likely to open on a flat note on Friday following losses in global peers. At 7:10 am, the SGX Nifty was trading 6.50 points or 0.04 percent lower at 15,703.00, indicating a flat start for the broader index in India.

By CNBC-TV18Jul 9, 2021 7:29:38 AM IST (Published)

Tata Consultancy Services: The company’s Q1FY22 net profit fell 2.6 percent to Rs 9,008 crore from Rs 9,246 crore, revenue rose 3.9 percent to Rs 45,411 crore from Rs 43,705 crore, QoQ. $ revenue rose 2.8 percent to $6,154 million from $5,989 million, QoQ. EBIT decreased 1.2 percent to Rs 11,588 crore, while EBIT margin fell by 130 bps to 25.5 percent, sequentially.

Tata Steel | CARE upgraded the long term credit rating on the company to AA+ from AA and the outlook to Stable from Negative.

Tata Motors | The company has inked a two-year memorandum of understanding (MoU) with Jammu & Kashmir Bank for retail finance.

Bharat Dynamics | The company has signed a contract worth about Rs 499 crore with the Ministry of Defence for the manufacture and supply of Akash Missiles to the Indian Air Force.

Union Bank of India | The bank has accepted bids to raise up to Rs 1,150 crore by issuing Basel III-compliant bonds.

JSW Ispat Special Products | The company’s crude steel production in Q1FY22 was at 0.14 million tonnes, down 6 percent from 0.15 million tonnes in Q4FY21 and up 76 percent from 0.08 million tonnes, YoY.

Elgi Equipments | The company’s US subsidiary has formed a Joint Venture company “Gentex Air Solutions, LLC” and invested $95,000 for a 33.33 percent stake.

Texmaco Rail & Engineering | CARE reaffirmed long term credit rating on the company at A-, but downgraded outlook to Negative from Stable.

Jammu & Kashmir Bank | The Reserve Bank of India has imposed a penalty of Rs 1 crore on the bank, on account of contravention of directions contained in circulars on 'Lending to Non-Banking Financial Companies (NBFCs) and Bank Finance to Non-Banking Financial Companies (NBFCs)'.

Dwarikesh Sugar Industries | The company has embarked upon a project to set up a 175 KLPD distillery at its Dwarikesh Dham Unit in Bareilly, Uttar Pradesh with an investment of Rs 232 crore.

Sangam Renewables | The company divested its entire stake in its subsidiary Waacox Energy to Aditya Birla Renewable at an enterprise value of Rs 81,57,55,500 on the transaction. The company will use these proceeds to reduce its short-term debt by Rs 40,32,92,379 on a standalone basis.

Earnings Today | Delta Corp, Excel Realty N Infra, Integrated Capital Services, K&R Rail Engineering, Madhucon Projects, Mapro Industries, Metalyst Forgings, Valencia Nutrition, among others.