2021-07-08 06:51:56
Stocks in the news:
1.Tata Consultancy Services: Tata Consultancy Services (TCS) to report Q1FY22 numbers today. TCS is expected to register 4.0% QoQ growth in constant currency. Further, cross currency tailwind would lead to revenue growth of 4.2% QoQ in dollar terms. In rupee terms, revenue is expected to increase 5.3% QoQ (higher than dollar growth due to rupee depreciation). EBIT margins are expected to decline 102 bps QoQ to 25.8%. key things to watch in today's concall are outlook on sustainability of double digit revenues, trends in digital, margin outlook, talent management, offshoring trends, deal pipeline and other long term trends.
2.Tata Motors: TML stated that Q2FY22E JLR wholesale dispatches are expected at 60-65k units. H2FY22E performance would be better as constrained chip capacities in Japan and USA start coming back onstream. Capex plans are going as planned (£2.5 billion for the year), with new product launches not being delayed.
3.Natco Pharma: In a negative development, Delhi High court has allowed the application for interim injunction filed by FMC on use of Chlorantraniliprole (CTPR; insecticides) by Natco.
4.SBI, Bandhan Bank, Indusind Bank: The Reserve Bank of India has penalized fourteen banks including State Bank of India, Bank of Baroda, Indian Bank, IndusInd Bank, Bandhan Bank for non-compliance with certain provisions of directions issued by the regulator on lending to NBFCs as reported in ET
5.Matrimony.com: Matrimony.com to acquire 100% stake in Boatman Tech Pvt Ltd. for | 11 crore at EV/Sales of 5x. Boatman Tech Private Limited, which does business under the brand ShaadiSaga, was founded in 2015. ShaadiSaga is a wedding services company providing a one-stop platform for customers in India to discover and decide on vendors in the context of organizing their weddings
6.Indraprastha Gas: Indraprastha Gas (IGL) hiked CNG retail prices in Delhi by | 0.9/kg to | 44.3/kg from 8 July. CNG prices in Noida, Greater Noida & Ghaziabad were also increased by | 0.9/kg to | 50/kg
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