Stocks to watch out for today: TCS, Infosys, Polycab India, UltraTech Cement and more

The domestic equity market closed higher on Thursday. Sensex gained 63 points to end the session at 71,721 and Nifty rose 28 points to 28,647.        

Here’s a look at stocks to watch out for today. 

Mahindra & Mahindra 

The company has approved investment of up to Rs 630 crore in Mahindra Electric Automotive Limited (MEAL) via a subscription to a rights issue of shares of MEAL. Each share, valued at Rs 10, will see an additional premium of Rs 4.50 per share.This investment will help MEAL meet its financial requirements for ongoing business operations. 

 UltraTech Cement 

The company will buy a 26% stake in Amplus Ages by investing Rs 49 crore. The acquisition is to meet the company's green energy needs, optimizing energy costs and comply with regulatory requirements for captive power consumption under electricity laws, it said. 

Also read: Stock recommendations by analyst for January 12, 2024: RVNL, Exide Industries and LT Foods

 

HG Infra 

The company has been declared L-1 bidder for a project worth Rs 716 crore by Central Railway on an engineering, procurement, and construction basis. 

Shalby Academy 

Shalby Academy has inked an MoU with Kaushalya, the Skill University of Gujarat Government to offer certificate, diploma, and post-graduate diploma programs focusing on clinical paramedical and allied health science segments. 

Polycab India  

Shares of Polycab India Ltd are in focus after the company said it has not received any written communication from the IT department regarding the outcome of the December raids and that there is no material adverse impact on the financial position of the company, as of now. 

Bhansali Engineering Polymers 

The company has received environmental clearance from the State Level Environment Impact Assessment Authority, Rajasthan for the expansion of acrylonitrile butadiene styrene (ABS) resin and saleable styrene acrylonitrile (SAN) resin at its plant at Abu Road. 

TCS  

The IT firm reported a 1.96 per cent year-on-year (YoY) rise in consolidated net profit at Rs 11,097 crore for the December quarter compared with Rs 10,883 crore in the same quarter last year, hurt by Rs 958 crore or $125 million one-time charge towards settlement of legal claim.  

Infosys  

Infosys reported a 7.3 per cent year-on-year (YoY) fall in net profit at Rs 6,106 crore for the December quarter compared with Rs 6,586 crore in the same quarter last year. The profit de-growth came in line with analyst projections of 5-8 per cent de-growth.  

Wipro, HCL Tech  

The IT majors will announce their Q3 earnings today.