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Tech Titans TCS, HCL, Sterlite, and Lupin: Unveiling the Latest Buzz!

by Tech Desk
2 minutes read
Tech Titans TCS, HCL, Sterlite, and Lupin: Unveiling the Latest Buzz!

According to knowledgeable sources, several companies are set to announce their quarterly earnings on July 12. Among them are Tata Consultancy Services, 5paisa Capital, Anand Rathi Wealth, Steel Strips Wheels, Artson Engineering, Hathway Bhawani Cabletel & Datacom, and Sanathnagar Enterprises.

Tata Consultancy Services (TCS), one of the leading IT services companies in India, is expected to report its first-quarter results for FY24. Analysts estimate that TCS will achieve a net profit of Rs 3,782 crore during this period. This represents a 5.3 percent decrease compared to the previous quarter but an 8.1 percent increase year-over-year. Dollar revenue is projected to reach approximately $3.268 billion in the April-June quarter, indicating a sequential growth rate of 0.8 percent and a year-over-year growth rate of 7.8 percent. In terms of Indian rupees, TCS’s revenue for the first quarter of FY24 is estimated to be around Rs 26,858 crore—a QoQ increase of 0.4% and YoY increase of 13.8%.

HCL Technologies is another major player in the IT industry that will release its quarterly earnings on July 12. The company is expected to achieve a net profit of Rs 3,782 crore in Q1 FY24—an average estimate from various brokerage firms including Philip Capital, Nirmal Bang, AMP, and HDFC Securities. This reflects a QoQ decrease of 5.3 percent but a YoY increase of 8.1 percent.

Adding to this to these IT giants’ earnings announcements, other noteworthy updates include J&K Bank’s plan to raise capital during the fiscal year 2023-24 as discussed by its Board of Directors on July 15th.

Greaves Electric Mobility Private Limited (GEMPL), the electric mobility division of Greaves Cotton Limited, has achieved a significant milestone by selling 200,000 units of its Ampere-branded electric two-wheelers in the first quarter of FY24. This achievement follows their earlier announcement of surpassing the 100,000 sales mark during fiscal year 2023.

Lupin, a major pharmaceutical company, has received an establishment inspection report (EIR) from the United States Food and Drug Administration (USFDA) for its Pithampur Unit-2 manufacturing facility. The USFDA classified the facility’s inspection as Voluntary Action Indicated (VAI), indicating compliance with regulations for solid oral and ophthalmic dosage forms.

Prataap Snacks has announced that July 27th will be the record date for determining dividend payment eligibility and holding its 14th Annual General Meeting on August 3rd.

Credent Global Finance has approved a rights issue size of 34,68,750 shares at Rs 140 per share. Eligible shareholders will receive one share for every two shares fully held. The registration date is set for July 17th.

Sterlite Technologies has partnered with Windstream to support large-scale fiber expansion projects since February 2021 when STL began providing optical network solutions to Windstream.

North Eastern Carrying Corporation recently closed its rights issue offering on July 11th after raising Rs 81 crore from it.

Plastiblends India reported a decline in profit and revenue during Q1. Profit fell by 24% YoY to Rs 7.6 crore while revenue decreased by 4.2% YoY to Rs 195.7 crore. The EBITDA margin also experienced a decrease from last year’s figure.

These updates highlight various industries’ performance and provide insights into companies’ financial positions in different sectors such as IT services, electric mobility, pharmaceuticals, snacks manufacturing, finance, telecommunications, logistics, and plastics.

For more information on these quarterly earnings and updates, you can visit the source article on Moneycontrol’s website.


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