Stocks In News: Tata Consultancy Services, HCL Technologies, Patanjali Foods And More

Tata Consultancy Services

TCS reported a surge of 16.8% in net profit on a year-on-year (YoY) basis in the quarter that ended June 30,223. The profit was steered by growth in total contract value (TCV) deal wins amidst a tough business environment. Rs 59,381 crore is the consolidated revenue for the quarter, marking an on-year surge of 13%. Speaking in constant currency terms, the revenue increased by 7% YoY.

HCL Technologies

HCL Technologies reported a growth in net profit of 7.6% YoY in the first quarter of fiscal 2024 ended on June 30, 2023. As a result of ramp-downs in deals and verticals like Hi-tech and telecom, net profit was down by 11.2 %. The net profit missed the analyst estimates of Rs 3,782 crore and stood at Rs 3,534 crore for Q1FY24.

Patanjali Foods

Patanjali Ayurveda is gearing up to launch its offer for the sale of 25,339,640 equity shares. The face value for each equity share will be Rs 2 f Patanjali Foods Ltd representing 7% of the total paid-up equity share capital of the Company. The bidding for non-retail investors will be held on July 13, 2023, while for retail investors, it will take place on July 14, 2023. Moreover, in case of oversubscription, the promoter will sell an additional 2%. The floor price for the offer is slated at Rs 1000 as compared to the prevailing price, which is Rs 1228.05.

Hindalco Industries

During a meeting that was conducted on July 12, 2023, the Board of Directors of the company gave a nod to a proposal of selling land situated at Kalwa, Maharashtra to Birla Estates Private Limited. The land was sold for Rs 595 crores and the formalities will be completed in 15 months.

Deep Industries

The company has made an acquisition of a 74% equity stake in Breitling Drilling Private Limited. As a result, it has now become a 74% equity stake of Breitling Drilling Private Limited. It purchased the stake for Rs 7400.

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