Stocks To Watch- Adani Enterprises, PVR-Inox, Delta Corp, Nazara Tech, TCS, Bharti Airtel, Happiest Minds

Stocks To Watch: Adani Enterprises, PVR-Inox, Delta Corp, Nazara Tech, TCS, Bharti Airtel, Happiest Minds

Stocks in focus: The GIFT Nifty recorded a 0.09% loss during Wednesday’s early trading session, with a value of 19,520 indicating a flat opening for domestic indices NSE Nifty 50 and BSE Sensex. Benchmark indices NSE Nifty 50 and BSE Sensex ended Tuesday’s session broadly in green. The NSE Nifty 50 rose 83.50 points to 19,439.40 and BSE Sensex surged 0.42% to 65,617.84. 

“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 on the moderation in US inflation data. The overall valuation for India is marginally above the long-term average, which is fair given strong earnings expectations on FY24,” said Vinod Nair, Head of Research at Geojit Financial Services.

PVR-Inox

On Tuesday, the GST Council decided to slash the GST rate levied on food and beverages sold in cinemas from 18% to 5%, making popcorn and cola sold cheaper.

Delta Corp, Nazara Technologies

During the 50th Goods and Service Tax Council meeting, the council imposed a 28% tax on online gaming, casinos and horse racing on Tuesday. The tax will be levied on the full value of the bet made, instead of just the platform fee.

Happiest Minds

Happiest Minds Technologies launched a QIP to raise funds. Rs 972 per share has been set as the floor price, which comes as a 2.2% discount from Tuesday’s closing price.

TCS

IT major TCS is set to announce its first quarter results on Wednesday. The software services exporter is projected to report muted revenue growth for the quarter on the slower deal pipeline and project delays/cancellation as the threat of recession in Europe and USA looms.

Bharti Airtel

Telecom player Bharti Airtel acquired an additional stake in Lavelle Networks, taking the aggregate shareholding in the firm from 25% to 45.6%. Lavelle Networks, founded in 2015, is a networking software startup that delivers next generation cloud powered technology to optimize, secure and manage enterprise branch networks.