Top 10 stocks for today – 15th April 2024

15 Apr 2024 , 08:38 AM

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

Adani Enterprises: Adani Global, Mauritius, a fully owned subsidiary of the business, has signed a shareholders agreement to acquire 49% ownership in Adani Easysoft Smart Solutions, Abu Dhabi, from Easysoft Holdings, UAE. Adani and Easysoft Holding will now own 49% and 51% stake in Adani Easysoft Smart Solutions, respectively, with equal representation on the company’s board of directors.

Tata Consultancy Services: The country’s largest IT services provider increased net profit by 9.1% year on year to ₹12,434 Crore in the March quarter of FY24, above experts’ expectations. Revenue from operations increased by 3.5% year on year to ₹61,237 Crore, with India, the UK, and the manufacturing industry driving the rise, while constant currency revenue increased by 2.2%. EBIT for the quarter increased by 10% to ₹15,918 Crore, with a margin growth of 150 basis points to 26% compared to the previous year period.

Anand Rathi Wealth: Despite a negative operating margin performance, the wealth management company’s net profit increased by over 33% year on year to ₹56.6 Crore in the March quarter of FY24. The quarter’s operating revenue increased by 29% to ₹184.3 Crore as compared to the same period of the previous year. The business stated that the board has authorised a final dividend of ₹9 per share for FY24, as well as a proposal for the company to buy back equity shares worth up to ₹164.65 Crore.

Wipro: FPEL Ujwal has issued equity shares to new off-takers and converted existing optionally convertible debentures (OCDs) to equity shares. As a result of these transactions, Wipro’s stake in FPEL has decreased from 9.95% to 7.07%, effective April 11. In September 2023, Wipro reached a binding agreement to subscribe for 9.95% equity share capital in FPEL Ujwal. The acquisition closed on October 10, 2023.

Aster DM Healthcare: The healthcare firm paid a special dividend of ₹118 per share following the receipt of revenues from the sale of the GCC business and the redemption of redeemable preference shares issued by Affinity Holdings, the company’s fully owned substantial subsidiary.

Varun Beverages: The firm has started commercial manufacturing of carbonated soft drinks and energy drinks (juices and value-added dairy products to follow) at its Gorakhpur, Uttar Pradesh facility.

Granules India: The US Food and Drug Administration (USFDA) examined the company’s Unit V plant in Visakhapatnam on April 8 and 12, and completed the audit with zero 483s. This audit included a pre-approval inspection (PAI) and a cGMP audit of active pharmaceutical ingredients (APIs) and formulations (FDs), both cancer and non-oncology. This factory produces APIs and formulations for cancer and non-cancer drugs.

Lemon Tree Hotels: The hotel chain opened Tigerland Safari, A Lemon Tree Resort in Chitwan, Nepal. This is the company’s second property in Nepal, after Lemon Tree Premier’s debut in Kathmandu earlier this month.

Bharti Hexacom: Sanjeev Kumar and Surajit Mandol have resigned from the company’s board of directors, effective April 12, as a result of the dissolution of the shareholder agreement following the company’s first public offering (IPO). Both were non-executive directors of the board. Sanjeev Kumar is the chairman and managing director, and Surajit Mandol is the director (finance) of Telecommunications Consultants India, which sold its 15% investment in Bharti Hexacom through an IPO and currently owns the remaining 15%.

Ami Organics: The board of directors has approved the company’s proposal to raise funds of up to ₹500 Crore through the issue of equity shares or other qualifying instruments via a qualified institution placement (QIP).

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