Stocks to Watch: HCL Tech, Mindtree, IDBI Bank, Bharti Airtel1 min read . Updated: 16 Oct 2020, 08:02 AM IST
- HCL Tech which will announce its earnings today had earlier said it expected revenue and operating margin for the September quarter to be 'meaningfully better'
Here’s a list of top ten stocks that may be in news on Friday:
HCL Tech: The IT major will announce its September quarter earnings today. The company's management had earlier said it expects revenue and the operating margin for the quarter to be "meaningfully better". In the June quarter, it had recorded 31.7% year-on-year increase in consolidated net profit, while revenues rose 8.6%.
Mindtree: The IT services firm, post market hours on Thursday, reported an 88% year-on-year rise in net profit to ₹253.7 crore for the second quarter-ended September on the back of operational efficiencies and improved utilization.
IDBI Bank: The government will seek the Cabinet's approval to lower its 47.11% stake in the lender after which the structure of the sale will be determined, The Economic Times reported.
Tech Mahindra: The company has formed a 50:50 joint venture with Japan's Sumitomo Corp. The JV will provide engineering services to the automotive sector.
Bharti Airtel: The telco said shares of its subsidiary Nxtra Data have been issued to CA Cloud Investments, an affiliated entity of Carlyle Asia Partners, following CCI nod to the recently-announced deal.
Apollo Hospitals Enterprise: The company has said it is preparing to administer 1 million covid-19 vaccines daily when a successful shot is made available, through its network of 70 hospitals as well as clinics, corporate health centres and pharmacies.
Cyient: The IT firm reported a 14.8% decline in its consolidated net profit at ₹83.9 crore for September quarter. The Hyderabad-based company's revenue decreased 13.4%.
Natco Pharma: The drug company aims to launch around 10 new products every year in the Indian market. During the year, Natco spent ₹349 crore on capital expenditure, a majority of which was used to enhance capabilities of theirmanufacturing facilities.
RITES Ltd: The Indian Railways arm has picked up a 24% stake in Indian Railway Stations Development Corporation (IRSDC), a JV between Rail Land Development Authority and IRCON, infusing ₹48 crore as additional capital.
South Indian Bank: The lender has reported 23% decline in net profit at ₹65 crore for September quarter. Total income of the bank fell to ₹2,138.74 crore from ₹2,203.18 crore a year ago.