Stocks to Watch on July 19: Infosys, Tata Technologies, Mastek,
On Thursday, the market indices closed at record closing highs, steered by IT stocks
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On Friday, at 11:40 AM, the Gift Nifty futures traded -166 points or -0.66% lower at 24,655.5 levels. On Thursday, the market indices closed at record closing highs, steered by IT stocks.
While the BSE Sensex closed at 81,343.46, up 627 points, the Nifty ended at 24,800.85, up 186 points.
Here is a list of stocks that may trade high on Friday, i.e, July 19,2024.
Infosys: The Bengaluru-based IT firm reported a 7% rise in its net profit, totaling Rs 6,368 crore for the period from April to June. Consolidated revenue grew to Rs 39,315 crore in this quarter, up from Rs 37,933 crore in the same period last year.
Tata Technologies: On Thursday, Tata Technologies Ltd announced a 15.4% decrease in consolidated profit after tax, totaling Rs 162.03 crore for the June 2024 quarter.
In the same quarter of the previous fiscal year, the company reported a consolidated profit after tax of Rs 191.53 crore.
Also, consolidated revenue from operations for the first quarter was Rs 1,268.97 crore, compared to Rs 1,257.53 crore during the same period last year.
Polycab: Polycab India Ltd announced a marginal decline in consolidated net profit to Rs 401.62 crore for the April-June 2024 quarter.
In the same quarter, the previous fiscal year, the Polycab reported a consolidated profit after tax of Rs 403.16 crore.
Additionally, consolidated revenue from operations for the first quarter was Rs 4,698 crore, compared to Rs 3,889.38 crore during the same period last year.
Tata Communications: On Thursday, the Tata company announced a 12.8% decline in June quarter. The company disclosed a consolidated net profit of Rs 332.84 crore for the April-June 2024 quarter, down from Rs 381.69 crore in the same quarter last year.
Tech Mahindra: In its regulatory filing, Tech Mahindra announced that it has approved the merger of its wholly-owned step-down subsidiary, vCustomer Philippines (Cebu), Inc., with its parent company, vCustomer Philippines Inc.
Mastek: On Thursday, the IT company reported a 53.2% increase in its consolidated net profit, reaching Rs 22.5 crore for the first quarter ending June 30, 2018. In the same period last year, the net profit was Rs 14.7 crore. The company’s consolidated operating income rose by 31.5% to Rs 244 crore for the April-June 2018 quarter, compared to Rs 185.6 crore during the same period the previous year.
HAL: The Indian public sector company entered into an agreement with an amendment to Memorandum of Understanding (MoU) with Aeronautical Development Agency (ADA) with respect to completion of LCA AF Mk-2 development.
Persistent Systems: On Thursday, the IT firm announced a 33.9% jump in net profit to Rs 306.41 crore for the April-June quarter, compared to Rs 228.76 crore a year ago. Also, the net profit decreased by 2.8% from Rs 315.3 crore in the last quarter.
