Here are the top stocks that are likely to be in focus today:
Earnings Today: Tata Consultancy Services, HDIL, California Software, Cupid Trades & Finance and Lloyds Metals and Energy will announce their quarterly earnings on April 12. Analysts expect TCS to post 9 per cent YoY growth in March quarter revenue aided by certain large deals such as Postbank and Prudential Financial, ramp-up in multiple $50-100 million deals won in the preceding quarter, and strong demand in areas of cloud and customer experience.
Infosys: The company on Sunday said its board will consider a buyback proposal at its meeting on April 14.
Barbeque Nation: UTI Mutual Fund acquired 1.77 per cent equity stake in casual dining restaurant chain operator Barbeque Nation via open market operations on April 8, taking its total shareholding in the company to 5.01 per cent.
Cement stocks on the cusp of a new growth cycle: Morgan Stanley
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Last Updated: Mar 10, 2021, 03:30 PM IST
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Shares of cement companies have been on an uptrend, especially after the Union Budget allocated more for the infrastructure projects.
Morgan Stanley upgraded Grasim Industries to overweight, for which it has a target of Rs 1,700. It retained an overweight rating on Ambuja Cements and Ultratech Cement with targets of Rs 360 and Rs 8,000, respectively.
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NEW DELHI: Cement companies are on the cusp of a new cycle that will lead to a long-term appreciation in share prices, Morgan Stanley said, raising earning estimates and price targets for most of the stocks under its coverage.
Shares of Holcim-promoted cement companies – Ambuja Cements and ACC – rallied up to 10 per cent on the BSE on Thursday after the companies received board approval for paying technology fees to their parent company, Holcim Ltd. The TKH fees with the foreign promoter Holcim has been kept at 1 per cent of net sales every year for two years with effect from January 1, 2021. Among individual stocks, Ambuja Cements has rallied 10 per cent to Rs 261, while ACC jumped 7 per cent to Rs 1,692 on the BSE in intra-day trade. At 09:53 am, Ambuja Cements was trading 6 per cent higher at Rs 251 and ACC was up 4 per cent at Rs 1,647, as compared to 0.78 per cent rise in the S&P BSE Sensex.