TCS Q3FY21 Results, Indigo Paints IPO, and Buzzing Stocks Today

Tue, 12 Jan Pre-Open

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Indian share markets hit fresh record highs yesterday with the BSE Sensex crossing the 49,000-mark on hopes of a robust recovery in Q3 earnings and favourable global cues.

It was reported that the Union Budget papers will not be printed for the first time since Independence, due to Covid 19 pandemic.

The Union Budget will be presented on February 1 by finance minister Nirmala Sitharaman. The budget session will begin on January 29 and go on till April 8.

At the closing bell yesterday, the BSE Sensex stood higher by 487 points (up 1%).

The NSE Nifty closed higher by 138 points (up 0.96%).

Maruti Suzuki and Tech Mahindra were among the top gainers.

The BSE Mid Cap index ended down by 0.1%, and the BSE Small Cap index ended down by 0.2%.

On the sectoral front, gains were largely seen in the IT sector, automobile sector and FMCG sector. IT stocks surged following stellar performance of TCS in December quarter.

Metal and energy stocks, on the other hand, witnessed selling pressure.

Over 450 stocks including Tata Motors, HCL Tech, Infosys, Wipro, Ashok Leyland, Varun Beverages, Godrej Consumer, Maruti Suzuki, TCS, TVS Motor, MRF and Avenue Supermarts among others hit new 52-week high.

Gold prices for the latest contract on MCX were trading up by 0.5% at Rs 49,208 per 10 grams at the time of closing stock market hours yesterday.

Gold prices reversed course from a near six-week low touched earlier in the session, although a stronger dollar and higher US Treasury yields capped bullion's gains.

Top Stocks in Focus Today

HUL will be among the top buzzing stocks today.

Hindustan Unilever (HUL) said it will take "suitable action" against the German maker of personal care products branded Sebamed for making scathing claims against the Indian company's mainstay soap brands Lux, Dove and Pears in a series of advertisements across mainstream and social media over the weekend.

In the ad, Sebamed claims the pH of Lux beauty soap is 10, the same as that of a Rin detergent bar - both HUL brands. Sebamed says the pH level of its product is 5.5, which is perfect for sensitive skin.

For HUL, India's biggest FMCG company, the soap business accounts for roughly a quarter of annual sales. It is the market leader in the Rs 220 billion soap segment with a 40% share, followed by Reckitt Benckiser and Godrej Consumer Products, which each have about 12% share.

BHEL share price will also be in focus today as the company said it has bagged an order worth Rs 4.5 billion for a steam and power plant from National Aluminium Corporation (NALCO).

The Rs 4.5 billion order has been placed on BHEL by NALCO for its 5thStream Alumina Refinery Expansion Project at Damanjodi, Odisha, the company said in a statement.

With this order, BHEL has not only maintained its track record of supplying all of NALCO's power plants, for both their Smelter plant (10x120 MW) at Angul and Alumina Refinery plant (5x18.5 MW) at Damanjodi, but will also be contributing to the 'Make in India' initiative, the statement added.

TCS Q3FY21 Results: Profit Rises 7.2% YoY to Rs 87 Billion

TCS, India's largest IT exporter in terms of revenues, said its profit rose 7.2% YoY to Rs 87 billion in December quarter compared with Rs 81.2 billion in the corresponding quarter last year.

Revenue for the quarter rose 5.4% YoY to Rs 420.2 billion compared with Rs 398.5 billion in the same quarter last year. The company said it was its strongest third quarter in nine years.

In dollar terms, the revenue was up 5.1%. On a constant currency basis, revenue rose 4.7%, the IT major said in a BSE filing.

Operating margin for the quarter came in at 26.6% compared with 25% in the same quarter last year. Net margin stood at 20.7%.

TCS reported a beat on all leading earnings parameters. The company said all verticals showed good sequential growth, led by Manufacturing (up 7.1%), BFSI (up 2%), Life Sciences and Healthcare (up 5.2%), Communications & Media (up 5.5%) and Retail & CPG (up 3.1%).

The company also announced a dividend of Rs 6 per share. Record date for the same is January 16.

To know more, you can read TCS' Q3FY21 result analysis on our website.

Speaking of stocks, in his latest video, Rahul Shah discusses how to alternate between a deep value portfolio and investment in gold and earn great returns.

In the video, Rahul discusses how to combine the two in a smart way and benefit from the individual strengths of each asset class.

How good is the result of this combination and what happens when you combine a deep value portfolio of mid and small caps with gold?

Tune in to the video to find out more:

IPO Buzz: Indigo Paints Gets Approval for IPO

In latest developments from the IPO space, Indigo Paints has received approval from the capital markets regulator to raise money through an initial public offering (IPO).

The Sequoia Capital-backed Indigo Paints had filed its preliminary IPO papers with regulator in November last year.

The IPO will comprise fresh issuance of shares aggregating to Rs 3 billion and an offer-for-sale of up to 58,40,000 equity shares by private equity firm Sequoia Capital, through its two funds SCI Investments IV and SCI Investments V, and promoter Hemant Jalan.

Note that calendar year 2021 is set to witness a flood of IPOs as fundraising via public issue route gathers steam.

Reportedly, at least 15 companies may come out with their initial public offerings. These include Indian Railway Finance Corporation (IRFC), Kalyan Jewellers, Suryoday Small Finance Bank, ESAF Small Finance Bank, Indigo Paints, Brookfield India Real Estate Trust, Barbeque Nation Hospitality, Home First Finance Company and Railtel Corporation Of India.

Among these, companies such as Indigo Paints, Home First Finance, IRFC, Brookfield REIT and Railtel Corporation of India are expected to launch their IPO in January.

How the IPO market performs in 2021 remains to be seen. Meanwhile, we will keep you updated on all the developments from this space. Stay tuned.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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