Stocks in news: TCS, Nalco, Maruti Suzuki, Natco Pharma, HFCL

Markets witnessed a sharp sell-off on Wednesday, with benchmark indices posting their steepest single-day decline in over two months amid adverse global cues. Technically, analysts say Nifty has slipped decisively below the key support zone of 24,000-24,150 and fallen beneath its major moving averages, weakening the near-term technical structure.

In today's trade, shares of TCS, Nalco, Maruti Suzuki, Natco Pharma, HFCL among others will be in focus due to various news developments and first quarter results.

TCS

Tata Consultancy Services (TCS) is expected to report modest profit growth for the June quarter, with revenue momentum likely to remain weak as India’s largest IT services company faces pressure from cautious client spending, wage hikes and rising expectations around AI-led cost savings.

State-owned National Aluminium Company Ltd (Nalco) on Wednesday announced entering into a joint venture agreement with NLC India Ltd (NLCIL) to set up a 1,080 MW thermal captive power plant in Odisha. The joint venture-cum-shareholders' agreement (JVA) has been signed for the formation of a 50:50 joint venture company to develop a 4x270 MW (1,080 MW) thermal captive power plant in Anugola, Odisha.

HFCL

Telecom gear maker HFCL plans to invest Rs 950 crore to enhance optical fibre cable production capacity over a period of next two years, a top official of the company said on Wednesday. While announcing the launch of the HFCL's data centre solution portfolio, OptiQ AI, its managing director Mahendra Nahata said that there is a huge demand for optical fibre cables in the data centre segment, especially in the US, which is driving growth for the industry.

The country’s largest carmaker Maruti Suzuki Wednesday said it has commissioned a 1 MWh Battery Energy Storage System (BESS) at its Kharkhoda manufacturing facility, marking the company’s latest step in strengthening its green energy ecosystem.

Natco Pharma on Wednesday announced investments of nearly Rs 2,500 crore in South Africa, including infusing Rs 1,400 crore in its arm in the country with an aim to enter new geographies. The company will also increase its stake in South Africa-based Adcock Ingram Holdings Proprietary Ltd (Adcock Ingram) to 49 per cent from 35.75 per cent, with the "acquisition valued at Rs 1,069 crore at the prevailing exchange rate", NATCO Pharma said.