Stocks To Watch Today: ACC, Infosys, L&T Infotech, Mindtree, Tata Power

Here's a look at the stocks to watch today:

• Infosys: The company will acquire Denmark-based BASE Life Science for €110 million. The deal is likely to close during the second quarter of FY23.

• Tata Power: TP Saurya, a wholly owned subsidiary, has won a contract from Solar Energy Corporation of India for setting up a 600 MW hybrid (wind and solar) power project in Karnataka. This will increase Tata Power's total renewables capacity to 5,524 MW.

• JSW Energy: JSW Neo Energy, a wholly owned subsidiary, has won a deal from Solar Energy Corporation of India to set up a 300 MW wind power plant.

• Sanofi: The company will consider one-time special interim dividend for the year ending Dec. 31, 2022, on July 26.

• Jubliant Pharmova: Jubilant Pharma Holdings Ltd., a unit of Jubilant Pharma, has secured a five-year loan facility from Standard Chartered Bank to repay $350 million in term loans and bonds. An additional $50 million has been earmarked for capital expenditure.

• Hindustan Zinc: The company has approved interim dividend of Rs 21 per share of face value of Rs 2 each for FY23, amounting to Rs 8,873.17 crore.

• NHPC: The company has received approval of the Ministry of Power for pre-investment activities at Sawalkot Hydroelectric Project in J&K for an amount of Rs 973 crore at November 2021 price level.

• Maximus International: The company has drawn-up a more than Rs 25-crore expansion plan for East African operations, over the next 2-3 years.

Earnings Post Market Hours

Mindtree Q1 FY23 (Consolidated, QoQ)

• Revenue up 7.7% at Rs 3,121.1 crore

• EBIT down 9% at Rs 598.20 crore

• EBIT margin at 19.17% vs 18.94%

• Net profit down 0.32% at Rs 471.6 crore

Tata Metaliks Q1 FY23 (Consolidated, YoY)

• Revenue up 10.5% at Rs 666.37 crore

• EBITDA down 84% at Rs 24.13 crore

• EBITDA margin at 3.6% vs 25.5%

• Net profit down 98.7% at Rs 1.22 crore

Analyst Actions

Emkay on Mindtree

• Reiterates 'buy' with a target price kept unchanged at Rs 3,400 at 25x Jun'24E EPS

• Cites strong execution, margin defense and benefits from merger synergies with LTI in the medium term as positives

Nomura on Mindtree

• Retains 'neutral' and raises target price from Rs 2,830 to Rs 2,910, an implied return of 0.32%

• Marginally raises FY23-24F EPS by 2-3% to factor in better margin

• Prefers Infosys in the large cap space.

Earnings Today

• L&T Infotech

• Tata Elxsi

• Angel One

• ACC