Pre-Market Information-IT stocks will be in focus ahead of Q3 results

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Global markets show positive signs. FED Chairman reaffirms rate hikes and tight monetary policy to fight against inflation. However, amid positive global cues, SGX Nifty indicates a gap-up opening for Indian markets.

The following stocks are in focus today:

Tata Consumer Products: It appoints Gharry Eccles as President – International Business with effect from January 17, 2022.

Tata Teleservices: After Vodafone Idea, now Tata Teleservices decides to convert AGR interest dues into equity. The amount will be Rs. 850 Cr. The government will hold around 9.5%.

Delta Corp: The company reports a net profit of Rs.70.38 Cr in Q3FY22 as compared to a loss of Rs. 22.57 Cr in Q2FY22. The top line doubled to Rs. 247.22 Cr compared to Rs. 120.82 Cr, YoY. It also said its gaming business wing will come with an IPO.

Marico: The company to consider second interim dividend on January 28, 2022.

Hindalco: Its 100% subsidiary Novelis to build a aluminum recycling plant in U.S. with a capacity of 240000 metric tons per annum. Company to expense $ 365 million for this purpose. 

Ultratech Cement: The company started Line II of the Bara Grinding unit in U.P. to increase its total cement manufacturing capacity in India to 114.55 mpta.

RITES: The company signs an MoA with SMEC group for exploration of Infrastructure opportunities.

Choice International: The company to consider Rights Issue on January 14 2022.

Federal Bank: The lender launches an instant 30-minute loan approval for MSMEs.

KPI Global : The company starts 2.964 MW solar power project under Captive Power Producer segment.

IT majors Infosys, TCS and Wipro will come with Q3 results post-market hours today.

Raghuveer Jandhyala

Editor, Tax Concept. I have written on market, finance, management, and technology.

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