Home / Markets / Stock Markets /  Stocks to Watch: Axis Bank, JK Tyre, Coforge, Indiabulls Housing, HPCL

Here are the top 10 stocks that are likely to be in focus today:

Axis Bank: The Centre’s bid to sell a majority part of its residual stake in the bank got off to a good start with the issue opening for non-retail investors on Wednesday and being over-subscribed four times the base size. "Offer for Sale of SUUTI shares in Axis Bank got good response on day one. Issue subscribed over 4 times of base size at a clearing price above the floor price by non-retail investors. SUUTI has decided to exercise the green shoe option. Retail investors get chance to bid tomorrow," disinvestment secretary Tuhin Kanta Pandey tweeted.

Coforge: Baring Private Equity Asia sold a 5.12% equity stake in the IT services firm, aggregating to 1,008 crore via an open market transaction. Hulst BV, an entity controlled by Baring, sold 31 lakh shares at an average price of 3,250.58 per share aggregating to 1007.68 crore. According to the latest shareholding pattern Hulst BV held 63.99% stake or about 3.88 crore equity shares in Coforge.

Indian Oil Corporation: The company said its capacity utilization has fallen to 84% currently from 100% last November as the deadly second wave of the pandemic has forced most states to impose strict lockdowns. This has crimped fuel demand in India, which is the world’s third-largest oil importer and the fourth-largest buyer of liquefied natural gas. Energy consumption, especially electricity and refinery products, tends to be linked to overall demand in the economy.

Dewan Housing Finance Corp Ltd: The National Company Law Tribunal on Wednesday directed lenders of bankrupt DHFL to consider the offer made by former promoter Kapil Wadhawan, who has proposed to fully settle the mortgage lender’s 91,000 crore dues, including 43,000 crore in the initial few years.

Tata Consultancy Services: The IT firm said it is entering FY22 with strong growth momentum and higher visibility about growth, on the back of a strong order book built up throughout the year and a robust deal pipeline. TCS’s order book in every quarter of FY21 was higher than the corresponding period of the previous fiscal, chief executive officer and managing director Rajesh Gopinathan said in the company’s annual report 2020-21.

Infosys: Co-founder S D Shibulal on Wednesday purchased shares worth 100 crore of the IT major through an open market transaction. Shibulal bought over 7.53 lakh shares at an average price of 1,327 per share, valuing the transaction at 100 crore, BSE block deal data showed. At the end of the March quarter, Shibulal held a 0.05% stake in the company. Shibulal’s wife Kumari sold over 7.53 lakh shares on Wednesday.

JK Tyre Industries: The country’s largest tyre manufacturer reported a consolidated net profit of 196.02 crore for the quarter ended 31 March, compared to a 46.85 crore loss in the year ago period, as vehicle production returned to pre-covid levels in India and foreign markets. The bottom line was hurt by a jump in input costs.

Indiabulls Housing Finance: The mortgage financier reported a two-fold jump in its profit after tax to 276 crore in the quarter ended March 2021 helped by stable asset quality. The lender had reported a profit after tax of 137 crore in the corresponding quarter of FY20.

Sintex Industries: The company has said its Lunsapur plant in Gujarat has suffered "severe damage" due to cyclone Tauktae. The expected quantum of loss/damage due to cyclone is under determination, it added.

Indo Rama Synthetics India: The company plans a capital expenditure of up to 6 billion in the firm and its units at Nagpur. The capex is meant to improve manufacturing, install 700 tpd pet resin manufacturing facility.

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