Top 10 stocks for today - 12th October 2023

12 Oct 2023 , 08:35 AM

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

Tata Consultancy Services: The profit of the country’s largest IT services exporter increased by 8.7 percent year on year to Rs 11,342 crore in the fiscal quarter ended September FY24, significantly ahead of experts’ projections due to higher operating performance. Revenue increased by 7.9 percent year on year to Rs 59,692 crore, with constant currency revenue increasing by 2.8 percent, driven by the energy, resources, utilities, and manufacturing industries.

Maruti Suzuki India: The country’s leading automobile manufacturer has begun exporting the Jimny 5-Door. The car will be distributed throughout Latin America, the Middle East, and Africa.

Adani Enterprises: The company raised Rs 700 crore through the private issue of 70,000 non-convertible debentures (NCDs) with a face value of Rs 1 lakh apiece.

Patanjali Foods: According to the FMCG company, the edible oil segment witnessed continuous pricing pressure during Q2 FY24, mostly owing to excessive imports that resulted in elevated inventory levels, affecting both revenue and margins. 

IndusInd Bank: The Reserve Bank of India has approved SBI Mutual Fund’s acquisition of up to 9.99 percent of IndusInd Bank’s paid-up share capital. The RBI has recommended SBI MF to acquire the aforementioned stake in the bank within a year, i.e. by October 10, 2024. 

Cipla: The United States Food and Drug Administration (USFDA) has investigated InvaGen Pharmaceuticals Inc., the company’s wholly-owned subsidiary in Central Islip, Long Island, New York. The company has received the USFDA’s EIR (Establishment Inspection Report) indicating that this inspection is Voluntary Action Indicated (VAI).

Larsen & Toubro: The infrastructure company has received an order imposing a penalty of Rs 64.98 lakh under the Central Goods and Services Tax Act from the Assistant Commissioner of CGST & CX, Gangtok Division, Gangtok, Sikkim.

Grasim Industries: The Board of Directors of the Aditya Birla Group will meet on October 16 to discuss raising funds through equity shares or other instruments by rights issue, Qualified Institutional Placement, preferential issue, or any other mechanism.

Delta Corp: Delta Corp Ltd recorded a 2% increase in consolidated net profit to Rs 69.4 crore for the third quarter ended September.

Infosys, HCL Tech: Shares of Infosys and HCL Tech will be under focus today as the businesses report second-quarter earnings.

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