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Stocks in Focus: L&T Technology Services, HFCL, ONGC, and Others

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The GIFT Nifty futures, which is an early indicator of the Nifty50 index, were trading flat at 24,222, indicating that the domestic benchmark indices are likely to make a lacklustre start on Tuesday. 

On Monday, 11 November, Domestic benchmark indices S&P BSE Sensex gained 10 points or 0.01% to end at 79,496 while the Nifty50 traded 7 points lower or 0.03% and settled at 24,141.

Here are some stocks that are likely to remain in focus on 12 November.

Quarterly Results Today: Nykaa, Hyundai Motor India, Zydus Lifesciences, Cello World, CESC, EIH, Finolex Cables, Bosch, General Insurance Corporation of India, Ashoka Buildcon, Samvardhana Motherson International, Natco Pharma, Sunteck Realty, and Sula Vineyards are some of the prominent companies that are set to release their quarterly earnings for July-September. 

L&T Technology Services: The company has announced that they have signed a definitive agreement to acquire California-based software and artificial intelligence (AI) firm Intelliswift for a total consideration of $110 million. 

ONGC: In its quarterly earnings for July-September, the company reported a 17% year-on-year (YoY) increase in its net profit to Rs 11,984 crore for the quarter compared to Rs 10,238 crore reported in the same quarter of the previous fiscal year. 

HFCL: The company, along with its consortium partners, have emerged as the Lowest Bidder (L1) for an optical fibre-based broadband network projects worth Rs 13,000 crore under BharatNet Phase III for UP East, UP West and Punjab circles.

Welspun Corp: Welspun Mauritius Holdings has divested a 5% stake in East Pipes Integrated Company for Industry for a total consideration of 218.9 million Saudi Riyal (Rs 480 crore). 

HealthCare Global Enterprises: The company has announced selling its diagnostic business Triesta to its subsidiary, HCG Nagpur Cancer Hospital, and Research Institute Oncology, for a total value of Rs 135 crore, and this transaction is expected to be completed by 1 December. 

Ambuja Cements: The Gautam Adani-led company is looking to gain approval from the Competition Commission of India (CCI) to acquire a majority stake in Orient Cement for a total value of Rs 8,100 crore. 

Vedanta: The company has announced that it will invest around $500 million in its group company, AvanStrate Inc., which is a global display glass manufacturer. 

NMDC: The company’s net profit for the quarter ended 30 September stood at Rs 1,211.6 crore, marking an 18.1% YoY growth against Rs 1,026 crore reported in the same quarter last year. 

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