Stocks in news: Tata Elxsi, HCL Tech, ICICI Pru AMC, Biocon, SpiceJet

Markets witnessed a volatile session on Monday and ended almost unchanged amid mixed global cues. Technically, analysts say the Nifty continues to witness buying interest on declines near the 24,000 mark, indicating that the broader undertone remains positive despite heightened volatility. However, the index is still facing resistance in the 24,300–24,400 zone, and a decisive breakout above this band is required to extend the ongoing recovery towards the 24,600 mark and beyond.

In today's trade, shares of Tata Elxsi, HCL Tech, ICICI Pru AMC, Biocon, SpiceJet among others will be in focus due to various news developments and first quarter results.

Tata Elxsi, L&T Tech
Shares of Tata Elxsi and L&T Tech will be in focus as the companies will announce their first quarter results today.


HCL Tech
IT services company HCL Tech reported a 20% year-on-year (YoY) growth in its consolidated net profit at Rs 4,624 crore in the first quarter. The same stood at Rs 3,843 crore in the last year quarter. The company's Board has also declared an interim dividend of Rs 12 per share and fixed July 17 as the record date.

ICICI Prudential AMC
ICICI Prudential AMC on Monday reported a 23% year-on-year (YoY) growth in its net profit at Rs 965 crore in the first quarter, compared with Rs 784 crore in the last year period. Revenue from operations, meanwhile, increased 18% YoY to Rs 1,564 crore.

SpiceJet
Lessors of crisis-hit SpiceJet have approached aviation safety watchdog DGCA for the deregistration of four Boeing 737-8 MAX planes, while the airline on Monday said these aircraft have remained non-operational for a prolonged period and their deregistration will eliminate lease rental costs.

Biocon
Mylan Inc, part of a global healthcare company Viatris, plans to sell up to 92 million shares in Indian ‌drugmaker ⁠Biocon Ltd, ⁠worth up to 34.81 billion Indian rupees ($363 million), according to a term sheet seen by Reuters.