Tata Consultancy Services Ltd., IREDA Ltd., Mazagon Dock Shipbuilders Ltd., Coforge Ltd., and Oberoi Realty Ltd., are some of the stocks to watch before going into trade on Friday.
TCS and IREDA posted their earnings post market hours.
Mazagon Dock Shipbuilders received a significant order valued at Rs 122 crore from Maharashtra State Power Generation Co.
Coforge's shares will trade ex-date on Friday for its interim dividend of Rs 90.
Oberoi Realty's board approved the proposal to raise up to Rs 6,000 crore in one or more tranches.
Benchmark equity indices of India closed with little gains on Thursday as the markets look forward to the earnings of the country's largest IT services firm, Tata Consultancy Services Ltd., to be released later in the day. Inflation data from the US after market hours will also be a key monitorable.
Intraday, the NSE Nifty 50 and S&P BSE Sensex rose around 0.6%. The Nifty ended 0.07%, or 16.50 points up at 24,998.45 and Sensex advanced 0.18%, or 144.3 points, to close at 81,611.4.
StocksTo Watch
Mazagon Dock Shipbuilders: The company received a significant order valued at Rs 122 crore from Maharashtra State Power Generation Co. This order involves the supply, installation, and commissioning of a comprehensive infrastructure project that incorporates artificial intelligence for monitoring and improving conditions within their operations.
Coforge: The company's shares will trade ex-date on Friday for its interim dividend of Rs 90.
Oberoi Realty: Oberoi Realty's board approved the proposal to raise up to Rs 6,000 crore in one or more tranches.The company plans to raise the amount through the issuance of equity shares, eligible securities, other securities or instruments or any combination of securities via private placement, including a qualified institutional placement, it added.
Endurance Tech: The company approved a capex of Rs 300 crore for the alloy wheels greenfield project in Aurangabad. The company plant will have a capacity of 1.8 lakh 2-wheeler alloy wheels per month. The start of production is envisaged in the second quarter of fiscal 2025–26.
Exide Industries: Exide Industries, announced an additional investment of Rs 100 crore in its wholly-owned arm, Exide Energy Solutions Ltd., on a rights basis.This takes the acid battery supplier's overall investment in EESL to Rs 2,852 crore.
IREDA: The company has received approval from DIPAM and the Ministry of Renewable Energy to establish a retail business unit.
Vishnu Prakash R Punglia: The company received an order worth Rs 161 crore from Northwestern Railway, Jaipur.
SG Finserve: The firm received a new Certificate of Registration as NonBanking Financial Company—Investment and Credit Company (Type II). This certification sanctions the company to conduct business and operations as an Investment and Credit Company (Type II) in accordance with the applicable RBI regulations.
UGRO Capital: The company’s assets under management have crossed the Rs 10,000 crore milestone in the second quarter of Fiscal 2025.
Utkarsh Small Finance Bank: The company set to acquire a 7% stake in Saksham Gram Credit for Rs 5 crore.
Bandhan Bank: Bandhan Bank announced that it has received approval from the Reserve Bank of India to appoint banking industry figure Partha Sengupta as its next chief executive officer and managing director. The Reserve Bank Of India gave its approval on Oct. 8 to appoint Sengupta as the Managing Director and Chief Executive Officer for a period of three years, the private lender said.
Earnings Post Market Hours
Tata Consultancy Services Q2 FY25 (Consolidated, QOQ)
Revenue up 2.62% at Rs 64,259 crore versus Rs 62,613 crore (Bloomberg estimates Rs 64,186 crore).
EBIT up 0.14% at Rs 15,465 crore versus Rs 15,442 crore (Bloomberg estimates Rs 15,995 crore).
EBIT margin down 59 bps at 24.06% versus 24.66% (Bloomberg estimates 24.9%).
Net profit up 5.05% at Rs 11,955 crore versus Rs 11,380 crore (Bloomberg estimates Rs 12,453 crore).
Revenue in line, margin and profits below estimates.
Dividend declared of Rs 10 per share.
IREDA Q2 FY25 (YoY)
Revenue up 38.48% at Rs 1,630 crore versus Rs 1,177 crore
Net profit up 36.14% at Rs 388 crore versus Rs 285 crore (Bloomberg estimates Rs 410 crore).
Net interest income up 52% at Rs 547 crore versus Rs 360 crore
GNPA at 2.19% vs 2.19% (QoQ)
NNPA at 1.04% vs 0.95% (QoQ)
Profit misses estimate.
Tata Elxsi Q2 FY25 (Consolidated, QoQ)
Revenue up 3.13% at Rs 955 crore versus Rs 926 crore (Bloomberg estimate Rs 947 crore).
EBIT up 5.75% at Rs 239 crore versus Rs 226 crore (Bloomberg estimate Rs 245 crore).
EBIT margin up 62 bps at 25.02% versus 24.4% (Bloomberg estimate 25.9%).
Net profit up 24.45% at Rs 229 crore versus Rs 184 crore (Bloomberg estimate Rs 200 crore)
Profits beat estimates
Anand Rathi Wealth Q2 FY25 (Consolidated, YoY)
Revenue up 32.24% at Rs 242 crore versus Rs 183 crore (Bloomberg estimate Rs 247 crore).
Net profit up 32.23% at Rs 76 crore versus Rs 58 crore (Bloomberg estimate Rs 76 crore)
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