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Stocks in Focus: TCS, Adani Enterprises, HCL Tech and Others

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In the early hours of Wednesday, the GIFT Nifty Futures contracts recorded flat-to-negative change, with a value of 19,520, indicating a muted opening for domestic indices on Dalal Street.

Domestic benchmark indices NSE Nifty 50 and S&P BSE Sensex ended Tuesday’s session in green on the back of the positive trend in the global markets. Nifty 50 rallied 0.43% or 83.50 points to 19,439.40. Sensex added 273.67 points or 0.42% to 65,617.84. 

Here’s a list of the stocks that may remain in focus on 12 July.

Delta Corp/Nazara Technologies/OnMobile Global: Online gaming and casino stocks like Nazara Technologies, Delta Corp, OnMobile Global and Zensar Technologies will be in focus today as the Goods and Services Tax (GST) Council on Tuesday decided to levy a 28% tax on the total face value of the bets in online gaming, horse racing, and casinos. 

Adani Enterprises: The flagship Adani Group company successfully raised Rs 1,250 crore by issuing and allotting 1,25,000 secured, unrated, unlisted, redeemable, non-convertible debentures with a face value of Rs 1,00,000 each on a private placement basis.

PVR Inox/Cineline: Movie theatre stocks will be actively traded today as the GST Council, in its 50th meeting, reduced GST levied on foods and beverages served in cinema halls from 18% to 5%.

Tata Consultancy Services: TCS will announce its results for the first quarter of the fiscal year 2023-24. The IT major is expected to report muted revenue growth due to a worsening demand environment. The margin would be affected by wage hikes. TCS may announce a share buyback. 

Bharti Airtel: The telecom company has agreed to acquire an additional 20.6% stake in Lavelle Networks, bringing its total ownership in the software-defined wide area network (SD-WAN) startup to 45.6%.

HCL Tech: Analysts expect the IT services company to report a muted growth in June quarter numbers, to be announced today, due to weakness in the company’s engineering and R&D (ER&D) business amid a persistently weak global demand environment.

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