TCS Buyback Proposal, Macrotech Developers' Quarterly Update, and Buzzing Stocks Today

Mon, 10 Jan Pre-Open

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Indian share markets ended on a positive note on Friday.

Benchmark indices ended marginally higher amid consolidatory mood and mixed global cues.

At the closing bell on Friday, the BSE Sensex stood higher by 143 points (up 0.2%).

Meanwhile, the NSE Nifty closed higher by 67 points (up 0.4%).

Grasim Industries and ONGC were among the top gainers.

Bajaj Finserv and M&M, on the other hand, were among the top losers.

The BSE Mid Cap index and the BSE Small Cap index ended up by 0.5% and 0.4%, respectively.

Sectoral indices ended on a mixed note with stocks in the oil & gas sector, energy sector and FMCG sector witnessing most of the buying interest.

Engineering and telecom stocks, on the other hand, witnessed selling pressure.

Shares of Birlasoft and Pidilite Industries hit their respective 52-week highs.

Gold prices for the latest contract on MCX were trading on a flat note at Rs 47,446 per 10 grams at the time of closing stock market hours on Friday.

Speaking of stock markets, Co-head of Research at Equitymaster Rahul Shah discusses his anti-list of stocks to invest in 2022, in his latest video.

Tune in to the video below to find out more:

Top Stocks in Focus Today

Among the buzzing stocks today will be TCS.

India's largest IT services company Tata Consultancy Services (TCS) will consider a buyback proposal when its board will meet on 12 January, the company informed the stock exchanges.

TCS will also declare its financial results for the quarter ending 31 December on 12 January.

The TCS board will also consider declaration of third interim dividend to the equity shareholders during the board meeting.

That apart, the government has again selected India's largest IT firm TCS for the next phase of the Passport Seva Programme.

TCS had bagged a Rs 10 bn deal for the first phase from the ministry of external affairs in 2008.

While TCS did not disclose the value of the renewed deal, the contract could be worth Rs 20 bn according to market experts.

In the next phase, TCS will refresh existing facilities and systems, and develop innovative new solutions to enable the issuance of e-passports and further enhance the citizen experience using technologies such as biometrics, artificial intelligence, advance data analytics, chatbots, auto-response, natural language processing, and the cloud.

In the first phase, TCS digitised the processes and speed up the timeline to get passports, among others. Some of the critical e-governance projects that TCS runs include Passport Seva Kendra, India Post and IRCTC.

Macrotech Developers share price will also be in focus today.

Mumbai-based Lodha Developers reported a 40% increase in sales bookings to Rs 26.1 bn during the quarter ended December on higher housing demand, trimming net debt by 20% to Rs 99.3 bn.

Macrotech Developers that markets properties under the Lodha brand reported a quarterly performance with pre-sales of over Rs 45 bn (Rs 26.1 bn in India and Rs 19 bn in UK), addition of six new projects with GDV potential of around Rs 100 bn.

The collections from customers against sales rose 44% to Rs 21.3 bn from Rs 14.7 bn during the period under review.

The company's net debt (India business) fell to Rs 99.3 bn as of December 31, 2021, from Rs 124.8 bn at the end of the September quarter.

Abhishek Lodha, MD and CEO, Lodha said,

• Our business performance is a testimony to demand for high quality homes and the trust reposed by consumers in our brand. We remain committed to ensuring that every Indian family can live in a high-quality home and achieve their fullest potential. The fact that this strong performance comes on the back of an equally strong quarter two of the fiscal 2022 showcases that the recovery in housing market has taken root and the multi-year up-cycle in housing market is well underway.

Electric Two Wheelers Register a Staggering 132% Growth in 2021

The year that has gone by has shown what difference subsidies can make in the evolution of a new age industry.

Spurred by generous incentives under central government's faster adoption and manufacturing of hybrid and electric vehicle (FAME 2) scheme with an extra helping from similar policies in as many as 18 states in the country, sale of high-speed scooters shot through the roof in 2021 registering a jaw dropping 425% growth at nearly 1.4 lakh units.

As a result, for the first time ever, high speed scooters have outpaced their slower counterparts that need no registration or insurance but do not benefit from any government subsidy.

Slow speed scooters grew at a relatively sedate 24% at 91,142 units. The overall segment more than doubled from just about a lakh units to 2.3 lakh last year.

Electric mobility has come of its own in India's two-wheeler market.

Sohinder Gill, Director General, Society of Manufacturers of EVs said,

• We haven't seen better days than the last few months in the entire EV journey. In the last 15 years, we collectively sold around 1 million e-two wheelers, e-three wheelers, e-cars, and e-buses, and we will most likely sell the same 1 million units in just one year beginning January 2022.
  
  The recent positive changes in EV policy through FAME 2 are a game-changer and a decisive move by the government to ensure a cleaner and greener transportation sector, reducing reliance on expensive and contaminated liquid fuel.

The government has extended the FAME II scheme for 2 years. Now, this scheme will be applicable till 31 March 2024. Previously this scheme was launched from 2019 to 31 March 2022.

Under this scheme, necessary charging infrastructure will also be set up for electric vehicles. FAME India scheme has been launched with the objective to address the issue of environmental pollution and fuel depletion. Under this scheme, the government has also increased the subsidy incentives from Rs 10,000 per kilowatt hour (kWh) to Rs 15,000 per kWh.

SJVN Aims to Spend Rs 80 bn Capex in FY23

Satluj Jal Vidyut Nigam (SJVN) is in focus after the hydropower public sector undertaking reported its highest-ever electricity generation of 1,480 million units in the quarter gone by.

Nand Lal Sharma, CMD of SJVN said,

• This year the company has recorded the highest generation of electricity so far - 1,480 million units against the last year generation of 1,281 million units. It was 7.7% higher than the last year's generation.
  
  The target for next year is Rs 80 bn. Keeping in view our growth trajectory we are poised to achieve that target next year and next to next year we will be aiming or targeting more than Rs 100 bn capex.

Sharma said against total design energy of 8,700 million units for full financial year 2021-22 from its power stations, SJVN in just three quarters of this fiscal has generated 8,321 million units of energy.

By consistent maintenance of the machines to deliver the highest level of performance and optimum utilization of the available water, SJVN has been able to consistently exceed the design energy and highest machine availability.

We will keep you updated on the latest developments from this space. Stay tuned.

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

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