Stocks In Focus Today: TCS, Birlasoft, Prestige Estates, Max Financial etc.

Indian benchmark indices in the previous day's trade (June 8) ended on a weak note dragged by banking and metal pack. SGX Nifty at 6:12 am traded with losses of 0.15%, pointing to a gap down opening for the Indian markets.

Stocks In Focus Today: TCS, Birlasoft, Prestige Estates, Max Financial etc.

The US markets in overnight trade ended on a mixed note with Nasdaq and S&P 500 gaining by up to 0.31 percent, while Dow Jones settled lower.

Meanwhile Asian markets at the time of writing this copy traded with losses of up to 0.29 percent on the Japanese Nikkei index.

Here are few of the stocks that shall be in focus on stock-specific news:

1. TCS:

In a BSE filing, the IT major informed that TCS has been ranked as a leading company in SAP S/4HANA Services by Everest Group. As per the report "TCS has invested in establishing a strong partner ecosystem of cloud vendors and technology partners, which helps in bringing client-specific solutions. It goes on to say that TCS has good proof points in driving complex implementations leveraging the digital core capabilities of S/4HANA across enterprise line of business functions. TCS' intellectual property (IP) tools and accelerators that expedite time-to-market for its clients across the entire services value chain, were highlighted as key strengths".

On Tuesday the stock ended higher by 0.5% at Rs. 3200 per share on the NSE.

2. Birlasoft:

Birlasoft i.e. the CK Birla Group company has entered into an agreement with Regulativ.ai for co-developing a new AI/ML-based cyber-regulatory reporting platform for global financial services, banking and insurance clientele. "Birlasoft believes that the Regulativ.ai platform fits well with the company's focus to grow the banking, financial services, and insurance segments, where cybersecurity is a key focus" said the filing.

Led by gains in the IT pack, Birlasoft yesterday logged gains of close to 10% to scale to a fresh 52-week high of Rs. 384.8.

3. PNB:

As several brokerage houses hold a bearish view on the PSB, the stock may gain focus today. JP Morgan maintains 'underweight' call, while Jefferies has given an 'underperform' rating. Also, other brokerages including Emkay Global and Citi have given a 'sell' call on the scrip of PNB. This is due to continuing weakness in the bank's NPA situation. The lender in its quarterly results announced on Friday posted standalone profit of Rs. 586 crore for the March ended quarter. However, its gross NPA increased to 14.12% as against 12.99 percent in the December quarter.

Notably, CLSA holds a different view and has upgraded the stock and given an outperform rating with a target price of Rs. 47 as against Rs. 22 which was set out before the results.

Brokerage	Rating after Results	TP before result ( in Rupees)	TP after result
( in Rupees)
CLSA	Outperform	22	47
JP Morgan	Underweight	37	37
Citi	Sell	33	33
Emkay Global	Sell	29	29
Jefferies	Underperform	33	33

4. Max Financial Services:

Total income at the financial services company for the Q4 quarter of FY 21 came in at Rs. 243.5 crore versus Rs. 19.72 crore in the December quarter. In the corresponding quarter of FY20, the income stood at Rs. 229.80 crore. Reported PAT was at Rs. 75.6 crore in comparison to Rs. 7.6 crore in the previous quarter, signifying almost 10 times jump in profitability. On Tuesday, the scrip of Max Financial logged a fresh 52-week high of Rs 1027.30.

 

5. Prestige Estates:

Owing to monetisation of huge portfolio of commercial real estate, the realty firm posted a sharp increase in consolidated net profit to Rs. 1336 crore. The Bengaluru based company posted total income for the March ended quarter at Rs. 2306 crore as against Rs. 2016.9 crore in the same period a year ago.

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