Buzzing Stocks: Wipro, Bandhan Bank, D-mart, RVNL, Angel One & others in news today

Results on July 14: JSW Energy, Bandhan Bank, CCL Products (India), Coromandel Engineering Company, Den Networks, GTPL Hathway, Just Dial, Kesoram Industries, Sastasundar Ventures, Tata Steel Long Products, Unichem Laboratories, Vandana Knitwear, and VST Industries will be in focus ahead of quarterly earnings on July 14.

Results on July 15: Stocks like Avenue Supermarts, Star Housing Finance, Rallis India, Vakrangee, Ksolves India, Menon Bearings, and Trident Lifeline will be in focus ahead of their quarterly earnings on July 15.

Wipro: The software services provider has recorded a 6.6% sequential decline in consolidated profit at Rs 2,870 crore for the quarter ended June FY24. IT services revenue fell by 1.8% QoQ to Rs 22,755 crore, while revenue in dollar terms at $2,778.5 million marginally beat analysts’ estimates, down 1.6% QoQ and in constant currency the IT services topline was down 2.8% QoQ. Large deal bookings stood at $1.2 billion during the quarter against $1.1 billion in the previous quarter. Wipro expects Q2 IT services revenue in dollar terms in the range of $2,722-2,805 million.

Senco Gold: The Kolkata-based jewellery retailer is set to debut on the bourses on July 14. The issue price has been fixed at Rs 317 per share.

Rail Vikas Nigam: The state-owned railway company has received a Letter of Award from National Highways Authority of India for rehabilitation and upgradation from 4 to 8 laning of Chandikhole- Paradip section of NH-53 in Odisha on HAM mode. The project is worth Rs 808.48 crore.

Ahluwalia Contracts: The construction company has received a project worth Rs 199.58 crore for civil structural, facade and related external development works for enterprise computing and cybersecurity training institute at Bhubaneshwar. The project is expected to be executed within 20 months.

Angel One: The retail stock broking house has recorded a 21.6% year-on-year growth in consolidated profit at Rs 220.8 crore for the quarter ended June FY24, backed by healthy operating and topline performance. Revenue for the quarter at Rs 807.5 crore grew by 18.4% over the same period last year, while EBITDA jumped 20.2% to Rs 320.3 crore and margin expanded by 60 bps to 39.66% in Q1FY24. The company has declared a first interim dividend of Rs 9.25 per share for FY24.

Deep Industries: The oil & gas field equipment provider has entered into a joint venture arrangement with Euro Gas Systems S R L (EGS), for supplying oil field equipment to the oil & gas industry. EGS has acquired a 26% equity stake in joint venture company Deep Onshore Drilling Services and the balance 74% stake is held by Deep Industries. Deep Onshore Drilling Services is also a subsidiary of Deep Industries.

Samvardhana Motherson International: The auto ancillary company has completed the acquisition of 51% equity stake in Saddles International Automotive and Aviation Interiors Private Limited. Saddles International is engaged in manufacturing of premium upholstery for passenger vehicles.

CSB Bank: Foreign portfolio investor Omers Administration Corporation has exited the private sector lender by selling entire stake via open market transactions. Omers sold 20.89 lakh shares at an average price of Rs 295.02 per share, and 15 lakh shares at an average price of Rs 295 per share. The entire stake sale was worth Rs 105.9 crore. Omers Administration Corporation – Oac Custody Account (Scv6), the Canadian public pension fund, had bought 35.89 lakh equity shares or 2.07% stake in the bank, which is equivalent to 38% of anchor book, at Rs 195 per share, in November 2019.

Century Textiles & Industries: US-based private research university Vanderbilt University has offloaded 6.5 lakh equity shares or 0.58% stake in the Aditya Birla Group company via open market transactions at an average price of Rs 903.01 per share. The stake sale was worth Rs 58.69 crore.

Patanjali Foods: Promoter Patanjali Ayurved has decided not to exercise the oversubscription option in the offer-for-sale issue. Accordingly, the promoter will go ahead with its base offer size of 2.53 crore equity shares or 7% stake. Consequently, 25.33 lakh equity shares would be reserved for allocation to retail investors, as part of the offer on July 14. The greenshoe option was of 22 lakh shares or 2% equity.

Tata Metaliks: The pig iron and di pipes maker has clocked a massive 273% year-on-year growth in profit at Rs 4.55 crore for quarter ending June FY24 despite lower revenue, driven largely by fall in input cost. Revenue from operations declined 2.4% YoY to Rs 650.5 crore, while EBITDA jumped 45.6% year-on-year to Rs 35.15 crore with margin expansion 178 bps at 5.4% for June FY24 quarter.