Stocks to Watch Today: TCS, Tata Elxsi, Paytm, IREDA, NBCC and others
Stocks to Watch Today: On the weekly expiration day, domestic markets were quiet and closed flat after a small early increase. Due to a number of news stories and second-quarter earnings, shares of Mazagon Dock, JSW Steel, TCS, IREDA, and Just Dial, among others, will be the subject of attention in today’s trading.
Tata Consultancy Services (TCS): TCS posted a net profit for the second quarter of FY25 of Rs 11,909 crore, up 5% on an annual basis but down 1.08 percent on a sequential basis. Revenue increased 7.6% to Rs 64,259 crore, above the average forecast from Bloomberg but falling short of expected net profit. The total contract value (TCV) of new transactions was $8.6 billion, up 3% from the first quarter but down 23% from the previous year. Demand for the corporation is cautious, especially in North America and Europe, despite a 95.2% increase in domestic growth.
Tata Elxsi: Driven by strong demand in its transportation segment, the engineering and technology company announced a 14.7% year-over-year profit gain, at Rs 229 crore. The revenue growth was 8.3%, or Rs 955 crore, significantly less than expected. With new contracts, the transportation unit—which makes up 55.7% of software development income—saw a notable increase in revenue.
Ola Electric: The Ministry of Heavy Industries is investigating the firm after receiving complaints from customers over faulty items and delayed delivery. In order to provide clarification on compliance deadlines, the business is assisting the Automotive Research Association of India (ARAI) in their examination. In light of these difficulties, Ola has launched a special deal that offers significant savings on its scooters.
One97 Communications: As Paytm completes the transfer of its payment handle and obtains approval for foreign direct investment for its Payment Aggregator license, the company’s share price has recently increased. The firm intends to expand into other financial services and maintain a consistent market position in UPI. By Q4 of FY25, it hopes to achieve positive adjusted EBITDA.
Mazagon Dock: Mazagon Dock Shipbuilders said that they have received an order for the delivery, installation, and commissioning of an artificial intelligence project from Maharashtra State Power Generation.
IREDA: IREDA announced a 36% increase in net profit to Rs 388 crore from Rs 285 crore in the same period last year. In Q2 FY25, operating revenue was Rs 1,629 crore.
NBCC: A contract of Rs 1,000 crore has been awarded to the company’s subsidiary for the development of the Maharashtra campus of Gondwana University.
Zydus Lifesciences: The US FDA has given the business permission to manufacture its generic version of extended-release paliperidone tablets, which are used to treat schizophrenia.
JSW Steel: To speed up carbon capture technology in the steel industry, the business has teamed up with BHP and Carbon Clean. This program, which seeks to cut emissions, is in line with the company’s worldwide environmental initiatives.
Puravankara: In Q2FY25, Puravankara’s sale bookings decreased 17% year over year to Rs 1,331 crore, despite a robust demand for dwellings. During the second half of the current fiscal year, the business intends to initiate new projects valued at over Rs 13,000 crore.
Vedanta: The business is the first smelter in India to connect its metal quality analysis system to the London Metal Exchange. The objective of this effort is to satisfy global quality standards and improve supply chain operations.
Q2 Earnings Today: Nine firms, including Plastiblends, Hathway Cable, Reliance Industria Infrastructure, and Just Dial, released their Q2 results today.
