Here are the top stocks that are likely to be in focus today:
Earnings Today: Tata Consultancy Services, HDIL, California Software, Cupid Trades & Finance and Lloyds Metals and Energy will announce their quarterly earnings on April 12. Analysts expect TCS to post 9 per cent YoY growth in March quarter revenue aided by certain large deals such as Postbank and Prudential Financial, ramp-up in multiple $50-100 million deals won in the preceding quarter, and strong demand in areas of cloud and customer experience.
Infosys: The company on Sunday said its board will consider a buyback proposal at its meeting on April 14.
Barbeque Nation: UTI Mutual Fund acquired 1.77 per cent equity stake in casual dining restaurant chain operator Barbeque Nation via open market operations on April 8, taking its total shareholding in the company to 5.01 per cent.
TCS, Infosys, Castrol India in spotlight business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Shares of Solara Active Pharma moved higher by 12 per cent to Rs 1,529 on the BSE in the intra-day trade on Monday after the company said it has approved the amalgamation with Aurore Life Sciences (Aurore), Empyrean and Hydra in an all-stock transaction. The stock was trading higher for the fourth straight day, and has rallied 16 per cent during the period. It hit a 52-week high of Rs 1,625 on February 12.
Solara is engaged in the business of manufacturing and development of Active Pharmaceutical Ingredients (API) and also offers Contract Manufacturing and Development Services (CMDS) to the global companies. Aurore Life Science, meanwhile, is engaged in the business of developing wide range of generic pharmaceutical products.
Nifty, Sensex under pressure– Monday closing report
Moneylife Digital Team
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We had mentioned in previous week’s closing report that Nifty, Sensex were directionless. On Monday, the indices suffered a major correction and ended with huge losses. On the NSE, there were 241 advances, 1,740 declines and 313 unchanged.
The trends of the major indices in the course of Monday’s trading are given in the table below:
Tata Power Company terminated a near USD 2- billion investment deal with Malaysian state-owned oil and gas company Petroliam Nasional Bhd (Petronas) in a proposed renewable energy infrastructure investment trust (InvIT), Mint reported.
Flipkart announced that it will work with Adani Logistics to strengthen Flipkart’s supply chain infrastructure and further enhance its ability to serve its rapidly growing base of customers. In addition, Flipkart will set up its third data centre at Adaniconnex’s Chennai based facility.