Stocks to Watch: Bharti Airtel, Coal India, Wipro, Bosch2 min read . Updated: 11 Nov 2020, 07:59 AM IST
- Markets will eye final results of the Bihar assembly election as the NDA, led by chief minister Nitish Kumar, appeared on course to making history in the state as it looks to return to power for the fifth term
Here’s a list of top ten stocks that may be in news on Wednesday:
Pfizer Ltd: The company's US parent is in talks with the Indian government to sell its covid-19 vaccine candidate, which it believes has the potential to be an important part of the early vaccine response. Govt officials also confirmed that India is in discussion with Pfizer for its RNA vaccine.
Bharti Airtel: The telco added more wireless customers to its network than rival Reliance Jio Infocomm Ltd in August as the economy continued to reopen, with some activities nearing pre-covid levels. Vodafone Idea lost 1.2 million subscribers.
Bosch, LIC Housing: The companies will be removed from the MSCI India Index after 30 November. Twelve stocks, including Yes Bank, PI Industries, Muthoot Finance and Adani Green will be added to the index.
Hospitality companies: Hotels and resorts have witnessed a 30-50% jump in bookings for weddings in November and December after the government last month eased lockdown rules to allow as many as 200 people to attend social gatherings.
Coal India: The state-owned company is likely to post a double-digit fall in net profit due to flat sales growth for the quarter ended September. The miner reported a consolidated net profit of ₹2,077 crore in the first quarter ended June, a decline of 55%.
Wipro: The company has won a multi-year contract for software engineering services from ThoughtSpot, a California-headquartered search and artificial intelligence-driven analytics platform. The financial details of the deal were not disclosed.
Mahindra and Mahindra: To reduce cash burn and prioritize capital allocation to core businesses and other non-core divisions that offer visibility of at least 18% return on equity in the near to mid-term the company said it has shutdown the Australia-based group company GippsAero Pty Ltd. In June earlier this year, the company management had exited the US-based electric bike startup GenZe and halted further capital infusion into its ailing Korean subsidiary SsangYong Motor Company.
Dewan Housing Finance: Uncertainty persists over the fate of fixed deposits totalling ₹5,375 crore with the company, even as bidders for the bankrupt mortgage lender raised their bids. DHFL’s committee of creditors (CoC) has received revised bids from Adani Group, Piramal Enterprises, US-based Oaktree Capital and Hong Kong-based SC Lowy to either buy a stake in the company or buy out its assets.
CG Consumer: PE firms Advent International Corp’s Amalfiaco and Temasek’s MacRitchie Investments Pte Ltd sold 8.77% in the company for ₹1631 crore in an open market transaction. According to bulk deal data on NSE, Amalfiaco Ltd sold 36.07 million shares or 5.75% of CG Consumer for ₹296.57 apiece aggregating to ₹1070 crore and MacRitchie Investments Pte Ltd sold 18.93 million shares for ₹296.54 per share totalling to ₹561.24 crore.
NMDC: The company has announced share buyback worth ₹1,378 crore. The board will buyback 13.12 crore shares at ₹105 per share, a premium of 11.7% to Tuesday's closing price.