Stocks to watch: Tata Consultancy Services, Delta Corp, Tata Steel, Bharat Dynamics, CDSL
Delta Corp is slated to announce its results for the quarter ended June 30 on Friday.
Here is the list of top stocks that could be in focus on July 9.
Tata Consultancy Services: The country’s largest software firm TCS on Thursday reported a 28.5% growth in June quarter net profit at Rs 9,008 crore, and called out the domestic business as a drag which restricted its overall growth because of the second wave of COVID-19.
Delta Corp: The company will announce its results for the quarter ended June 30 on Friday.
Tata Steel: The company said that ratings agency CARE has upgraded long term credit rating on the company to AA+ from AA and the outlook to Stable from Negative. The revision in rating and outlook assigned to the instruments of Tata Steel factors in the improvement in performance witnessed during FY21, sequentially from Q2-FY21 onwards, particularly in Indian operations, on the back of revival in demand and increased steel prices leading to substantial cash flow generation and sizeable deleveraging at the end of FY21 resulting in improvement in debt coverage indicators.
Bharat Dynamics: Bharat Dynamics has signed a contract worth about Rs.499 crore with Ministry of Defence for manufacture and supply of Akash Missiles to the Indian Air Force.
Jammu & Kashmir Bank: The lender said that the Reserve Bank of has imposed a penalty of Rs 1 crore on the bank, on account of contravention of directions contained in circulars on ‘Lending to Non Banking Financial Companies (NBFCs) and Bank Finance to Non Banking Financial Companies (NBFCs)’.
Elgi Equipments: Elgi Equipments’ Wholly Owned Subsidiary in USA, ‘Elgi Compressors USA Inc.’ has formed a Joint Venture Company in the USA by name ‘Gentex Air Solutions, LLC.’ as a North Carolina Limited Liability Company, along with James Gery and Diego Hernandez.
CDSL: Leading depository CDSL on Thursday said the number of active demat accounts opened with it has reached 4-crore mark. CDSL, which began operations in 1999, had 1 crore active demat accounts in September 2015, crossed 2 crore in January 2020, 3 crore in January 2021 and 4 crore in July 2021.