Top 10 stocks for today – 12th January 2024

12 Jan 2024 , 08:01 AM

Here are some of the stocks that may see significant price movement today.

1. Infosys: The second-largest IT services provider in the country has posted a 1.7% quarter-on-quarter decrease in net profit, amounting to Rs 6,106 crore, for the quarter ending in December of FY24. Additionally, there was a 0.4% decline in revenue, totaling Rs 38,821 crore.
2. Polycab: The company emphasizes that, as of the current date, it has not received any communication from the Income Tax Department regarding the outcome of the search. However, on Thursday, the stock experienced a significant decline of 21%, marking the largest drop on record.
3. Mahindra & Mahindra: The approval has been granted for an investment of up to Rs 630 crore in Mahindra Electric Automobile Ltd. through a rights issue, with a premium of Rs 4.5 per share. The funds raised from this investment will be utilized by MEAL to fulfill its financial needs for business operations.
4. TCS: The prominent IT services company has reported a notable 8.2% year-on-year increase in net profit, reaching Rs 11,735 crore, and a 4% rise in revenue, totaling Rs 60,583 crore, for the quarter concluding in December of FY24.
5. Nykaa: According to sources from CNBC-Awaaz, it is anticipated that Lexdale International will conduct a block deal, potentially selling 2.62 crore shares of the company, amounting to Rs 490 crore. Following the deal, there will be a lock-in period of 45 days.
6. CONCOR: Export (Exim) volumes have witnessed a notable 8.25% increase, while domestic volumes have experienced a 1.25% decline year-on-year. In total, the volumes for the December quarter have risen by 6.05% compared to the previous year.
7. 360 ONE WAM: The board is scheduled to convene on January 18 to deliberate on the matter of dividends. The record date for the dividend has been established as January 29, 2024.
8. LIC: The Corporation has been issued demand orders totaling Rs 3,528.75 crore by Income Tax authorities in Mumbai. In response, LIC intends to file an appeal before the Commissioner (Appeals), Mumbai, challenging the aforementioned orders.
9. UltraTech Cement: The company has announced plans to acquire a 26% stake in Amplus Ages for a sum of Rs 49 crore.
10. HG Infra: The company has been officially designated as the lowest (L-l) bidder by Central Railway for a project valued at Rs 716.11 crore. The scope of work involves the construction of a new Broad Gauge (BG) line between Dhule (Borvihir) and Nardana of Central Railway.