Home / Markets / Stock Markets /  Stocks to Watch Today: Infosys, Bharti Airtel, IndiGo, Bandhan Bank, Petronet LNG

Here is a list of top 10 stocks that may be in focus on Wednesday:

Infosys: Financial services firm ICICI Securities said the tech major does not have any “perceivable inconsistency" in data points shared by Infosys Ltd as alleged in a whistleblower letter. This may reverse the negative sentiment surrounding the company over accounting malpractices. Separately, the Ministry of Corporate Affairs has sought information regarding the whistleblower complaints, which have triggered an investigation by the US Securities and Exchange Commission.

Bharti Airtel: Shares plunged more than 3.3% on Tuesday as the Supreme Court rejected telcos’ definition of adjusted gross revenue (AGR), ordering mobile operators to repay past dues within three months to the government amid piling debt and shrinking revenues. Separately, Airtel on Tuesday reported a drop in its average revenue per share user in July-September as growth in its subscriber base outpaced the increase in revenue from mobile services in India.

RIL: The company said it will infuse 1.08 trillion into its telecom subsidiary Reliance Jio Infocomm Ltd. Proceeds from the infusion will be used to pare debt of the largest telecom operator by revenue market share. As a result, Reliance Jio's debt to equity ratio will fall from about 2.5 times to 0.3 times. Shares of the largest company by market capitalisation had touched a fresh 52-week high on Tuesday.

IndiGo: InterGlobe Aviation Ltd, which runs India’s largest budget airline IndiGo, has sought support from its employees following its biggest quarterly loss in July-September, saying that it will have to deal with weakening revenue environment going ahead. The airline reported a net loss of 1,062 crore in the reporting quarter as against a loss of 651.5 crore a year ago.

Bandhan Bank: Reserve Bank of India (RBI) on Tuesday imposed a penalty of 1 crore on the private lender for failing to meet its promoter shareholding norms. The Reserve Bank said the bank was supposed to dilute promoter shareholding of its Non-operative Financial Holding Company in excess of 40% within three years from the date of commencement of the bank’s business.

Petronet LNG: The state-owned company announced its September quarter earnings on Tuesday after market hours. Net profit more than doubled to 1,103 crore compared with 560 crore in the same period last year. The company’s revenue rose 8.7% to 9,361 crore in the second quarter of this fiscal. The revenue was higher than a year-ago figure of 8,613 but lower than the estimate of 9,027 crore.

Vodafone Idea: Traders fear Vodafone Idea Ltd may end up in bankruptcy, since the penalty amount is higher than the cash on its books. The telecom operator will alone have to pay a massive 28,308 crore in past dues that include licence fees and penalties to the department of telecommunications.

Central Bank: The public-sector bank on Tuesday said its board has approved allotting preferential shares to the government to raise 3,353 crore equity capital. In a filing with stock exchanges, the lender said the board approval is subject to the nod of shareholders, regulators RBI and Securities and Exchange Board of India and other statutory authorities.

Tata Chemicals: The company will announce its September quarter earnings today. Tata Global Beverages Ltd will also report its numbers for the second quarter. The companies are in the process of a demerger, where Tata Chemical’s consumer products business will be demerged into Tata Global Beverages’ and the entity with all mass consumption items will be named Tata Consumer Products.

HDFC Life Insurance: HDFC Standard Life has offered the company’s share at a price band of 562-575 per share, seeking about $600 million or 4,260 crore in the the placement of HDFC Life Insurance Company’s shares. There is an option to sell an additional $200 million of shares. Standard Life is looking to sell up to 3.76% stake or 7.58 crore shares in HDFC Life Insurance.

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