Top 5 stocks in focus on October 12: TCS, GM Breweries to NALCO, here are the 5 newsmakers of the day
There were certain stocks, like NALCO, Telecom shares and Just Dial, that came in the news after the market was closed for trading on the day and can have their impact on the market when it opens for trading on October 12, 2018
On account of global sell-off in the stock markets, Indian markets too opened sharply lower and closed in a negative zone on Thursday, October 11, 2018. But there were certain stocks, like NALCO, Telecom shares and Just Dial, that came in the news after the market was closed for trading on the day and can have their impact on the market when it opens for trading on October 12, 2018. Here is the list of five such stocks:
Tata Consultancy Services (TCS): India's biggest software exporter Tata Consultancy Services declared its Q2 financials on Thursday and posted 22.57 per cent YoY rise in profit at Rs 7,901 crore. Its net profit rose 7.64 per cent QoQ and 22.57 per cent YoY. Its consolidated revenue jumped 7.57 per cent QoQ and 20.67 per cent YoY to Rs 36,854 crore.
GM Breweries Ltd: The company has posted its Q2 results on Thursday and posted a revenue of Rs 111.8 crore up by 10.5 per cent YoY. Its profit rose to Rs 19.42 crore versus Rs 15.73 crore; revenue increased to Rs 413.59 crore versus Rs 384.82 crore (YoY). EBITDA was up by 22.1 per cent at Rs 30.4 crore.
Just Dial: Shares of Indian-based search services company Just Dial will remain in focus because the company will turn ex-date for the buyback offer. Just Dial plans to buy back 27.50 lakh shares, for an aggregate amount not exceeding Rs220 crore, at a maximum price of Rs 800 a share.
NALCO: Shares of National Aluminium Company (NALCO) will remain in focus on Friday, as its board is meeting to consider a buyback proposal of the fully paid-up equity shares of the Company.
Watch This Zee Business Video
Telecom Sector: Telecom shares will remain in focus today as the government has raised basic customs duty on several types of telecom equipment and imposed duties on printed circuit boards. The step was taken to curb non-essential imports to address its current account deficit as also boost ‘Make in India’. Telecom products including optical transport equipment, base stations, combination of one or more of Packet Optical Transport Product or Switch (POTP or POTS), IP radios and Optical Transport Network (OTN) products will face customs duty of 20% instead of 10% now. A host of telecom products that enjoyed zero duty would face a customs duty of 10%.