Here is a list of the top 10 stocks to be in focus today:

Infosys: India’s second-largest IT services company Infosys on Thursday posted a better-than-expected 11% rise in consolidated net profit in Rp6,021 crore for the September quarter and announced a share buyback worth Rp9,300 crores. The Bengaluru-headquartered company raised its FY23 revenue growth guidance to 15-16%. The Infosys board has also declared an interim dividend of Rp16.50 per sheet. Interim dividend payments will be made Rp6,940 crores.

Mindtree: IT company Mindtree on Thursday reported a 27.5% year-on-year rise in its consolidated net profit to Rp508.7 crore for the September quarter. Viewed sequentially, net profit was around 8% higher than in the June quarter. Q2 earnings came in approx Rp3,400.4 crore, growing 8.9% over the previous quarter and 31.5% on the year respectively. The total contract value or TCV in the first fiscal semester exceeded USD 1 billion for the first time.

The Dependency Industry: Reliance Industries Ltd. are in advanced discussions to acquire the wholesale operations of German company Metro AG in India, according to people familiar with the matter, as the conglomerate led by billionaire Mukesh Ambani seeks to dominate India’s giant retail sector. Charoen Pokphand Group Co. is no longer active in talks with Metro, leaving only Reliance Ambani to pursue the carry business.

ONGC: A consortium led by ONGC Videsh Ltd (OVL), and comprised of other state-owned companies Indian Oil Corp. Ltd (IOCL), Bharat PetroResources Ltd (BPRL) and Oil India Ltd (OIL), are seeking to purchase a stake in a hydrocarbon producing asset from Abu Dhabi National Oil Co. (Adnoc), the largest oil company in the United Arab Emirates (UAE), said two people familiar with the matter. The proposed transaction is being facilitated through government-to-government talks between India and the UAE.

Live HDFC: Insurance sector regulator Irdai has given final approval to HDFC Life Insurance Company Ltd (HDFC Life) to incorporate Exide Life into the company. In January this year, HDFC Life acquired 100% of Exide Life Insurance Company from its parent company Exide Industries for Rp6,687 crore to increase its presence in the south Indian market.

Angel One: Angel One, a middle class brokerage firm with a market capitalization of Rp13,228.51 crore, the Board of Directors declared a second interim dividend of Rs. 9 per share and set a record date for that purpose to determine shareholder eligibility. The company recorded sequential profit growth of 17.7% at Rp213.6 crore for the quarter ended September FY23.

MTNL: MTNL BUMN on Thursday said its shareholders had approved a proposal to raise up to Rp17,571 crore through government guaranteed debt bonds under private placement. Shareholders of loss-making public sector telecommunications companies have also increased the board’s borrowing power up to Rp35,000 crore from banks and other financial institutions, according to reports of the MTNL annual general meeting held on 10 October.

Tata Steel: Tata Steel Long Products, a subsidiary of Tata Steel, said Thursday that the company has acquired an equity stake in its subsidiary Neelachal Ispat Nigam Limited, amounting to Rp300 crores. The company has acquired 4,68,75,000 equity shares from Rp10 each with a premium of Rp54 per sheet. The company will now own 95.81% of Neelachal Ispat Nigam Ltd.

Indian coal: As part of its diversification program for clean energy, Coal India Limited (CIL), on Thursday signed a Memorandum of Understanding (MoU) with Rajasthan Vidyut Utpadan Nigam Limited (RRVUNL) to develop a 1,190 MW solar power plant in the state, Ministry of Coal said in a statement. The project will drive CIL’s efforts to generate solar power as part of its clean coal energy diversification program.

Anand Rathi’s wealth: Non-bank wealth solutions firm Anand Rathi Wealth on Thursday reported a 41% jump in after-tax profit on Rp43 crore for the three months ending September 2022. In comparison, the company has posted a PAT (Profit After Tax) of Rp30.4 crore in the same quarter before fiscal, Anand Rathi Wealth, part of Mumbai-based Anand Rathi financial services group, said in a statement.


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