Stocks To Watch Out For Today: Indian equity benchmark indices surged on Tuesday following a positive trend in the global markets and continuous foreign fund inflows. Buying in index heavyweights Reliance Industries, Infosys, and ITC also helped markets extend their gains.
The BSE Sensex gained 273.67 points or 0.42 per cent to close at 65,617.84. The NSE Nifty rallied 83.50 points or 0.43 per cent to settle at 19,439.40.
"The market now awaits the Q1 results, IT sector, which kicks off tomorrow, where expectations are muted with a focus on the sustenance of margin and improvement in long-term guidance. The positivity also stems from China's anticipated stimulus to withstand economic growth and hope for moderation in US inflation data," said Vinod Nair, Head of Research at Geojit Financial Services.
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"The overall valuation for India is marginally above the long-term average, which is fair given strong earnings expectations on FY24," he said.
Top Stocks To Watch For 12 July:
Adani Enterprises
The Adani Group flagship firm raised Rs 1,250 crore through bonds, issuing and allotting 125,000 secured, unrated, unlisted, redeemable, non-convertible debentures of face value of Rs 1,00,000 each on a private placement basis.
Delta Corp/Nazara Technologies
On Tuesday, the Goods and Services Tax (GST) Council levied a 28 per cent uniform GST on online gaming, horse racing, and casinos on the full value of the bets. For online gaming, horse racing and casinos, a vexed issue on which ministers consulted extensively, the council suggested amendments to the law to specify a 28 per cent tax on all three categories at their full face value.
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TCS
The IT major is likely to announce its first-quarter results on Wednesday. The company is projected to report muted revenue growth for the quarter following a slower deal pipeline and project delays or cancellations as the threat of recession in Europe and the USA looms.
Bharti Airtel
The telecom player acquired an additional stake in Lavelle Networks, taking its aggregate shareholding in the company from 25 per cent to 45.6 per cent. Founded in 2015, Lavelle Networks is a networking software startup that delivers next generation cloud powered technology to optimize, secure and manage enterprise branch networks.
