Top 10 stocks for today – 12th July, 2023

12 Jul 2023 , 08:00 AM

Here are some stocks that may show significant price movement today.

1. Lupin: On Tuesday, the pharmaceutical company announced that it had obtained the Establishment Inspection Report (EIR) for its Pithampur unit-2 manufacturing facility. The EIR was issued by the United States Food and Drug Administration (USFDA) and pertains to the production of oral solids and ophthalmic dosage forms at the facility.
2. M&M: The leading automotive manufacturer, reported a total sales figure of 59,924 units for the month of June. This represents a significant increase compared to the 51,319 units sold in the same month last year.
3. Adani Enterprises: Adani Enterprises has successfully raised Rs 1,250 crores through the allotment of 125,000 secured, unrated, unlisted, redeemable, non-convertible debentures.
4. SpiceJet: According to a report by PTI, the Directorate General of Civil Aviation (DGCA) has placed SpiceJet under ‘enhanced surveillance.’ This action comes as the budget airline has been encountering various financial challenges in recent months. However, SpiceJet has denied any knowledge of such a development and refuted the claims made in the report.
5. Delta Corp: Delta Corp has attracted attention following the decision made by the GST council to impose a 28% GST on the full face value of casinos, race courses, and online gaming. This means that these activities will now be subject to the higher tax rate. Additionally, the purchase value of chips used in casinos will also carry GST.
6. Nazara Tech: The company is expected to be affected by the increase in GST rates for online gaming. The GST rates have been raised to 28% from the previous rate of 18%. Nevertheless, the increased tax burden may have implications for the company’s financials and profitability, and it will be important for Nazara to assess and adapt to the new tax regime accordingly.
7. PVRINOX: The GST council has made a significant decision to reduce the tax rate on food and beverages served in cinema halls. The tax has been lowered from 18% to 5%. This move is expected to positively impact the revival of the multiplex business. CFO Nitin Sood has expressed that this decision brings much-needed clarity, which will help prevent disputes and litigations related to GST matters in the cinema industry.
8. Happiest Minds: The company has announced the launch of a Qualified Institutional Placement (QIP) to raise funds. According to the term sheet accessed by CNBC-TV18, the base size of the QIP is set at up to Rs 400 crore, with an additional oversubscription option of Rs 100 crore. The floor price for the shares in the QIP is Rs 972 apiece, which represents a 2.2 percent discount to the closing price of the company’s shares on Tuesday.
9. HCL Tech, TCS: Today, the focus will be on the shares of TCS (Tata Consultancy Services) and HCL Tech (HCL Technologies) as both companies are scheduled to announce their first-quarter earnings.
10. Hinduja Group: In order to finance the potential acquisition of Reliance Capital, the group plans to raise up to $1 billion. Recent discussions have taken place with funds including Farallon Capital, Oaktree, Ares Asia, and Cerberus, to explore the details and arrangements of the proposed acquisition. These discussions are contingent on the Hinduja group obtaining the necessary court approvals for their bid.