3 min read.Updated: 13 Oct 2021, 08:29 AM ISTAjith Kumar
Corporate earnings reports are expected to provide a window on whether businesses expect price pressures to crimp profit margins. Slowing economic growth and elevated inflation can be cues for central banks to prepare to reduce support. The possibility can make investors jittery
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NEW DELHI :
Here are top 10 stocks that will be in the news on Wednesday.
Infosys: As per Bloomberg consensus estimates, Infosys, which will be releasing its Q2 results after market hours on Wednesday, is expected to clock revenue of ₹29,385.70 crore and a net profit of ₹5,277.20 crore. The results will be keenly watched, given that IT sector biggie Tata Consultancy Services Ltd had missed revenue estimates last week.
Wipro: Wipro will also be announcing its results for the September quarter after market hours on Wednesday. It is expected to post revenue of ₹19,385.20 crore and a net profit of ₹2,857 crore. The company, along with Infosys will be watched for its deal pipeline, which is a vital factor in its results, among other things.
Mindtree: Mid-cap player Mindtree in Q1FY21 reported consolidated total income of ₹2,363.50 crore, up 10.02 % from last quarter total income of ₹2,148.20 crore and up 21.24 % from last year same quarter total income of ₹1,949.40 crore. Its results for the September quarter are due today.The company has shown steady growth over the past many quarters.
PFC: The government on Tuesday accorded Power Finance Corporation with Maharatna status. The move gives the company greater operational and financial autonomy and is expected to give it greater role in national infrastructure pipeline, among other things.
Tata Motors: Private equity investor TPG Group has announced that it will invest ₹7,500 crore in the wholly-owned electric vehicle subsidiary of Tata Motors. The investment is to be made in tranches over 18 months from the date of completion of the first tranche. The first round of capital infusion will be completed by March 2022 and the entire funds will be infused by the end of 2022, according to reports.
Reliance: Reliance New Energy Solar Ltd (RNESL), a wholly-owned subsidiary of Reliance Industries Ltd, has entered into an agreement with NexWafe GmbH (NexWafe) for acquiring 86,887 series C preferred shares of face value of €1 each of NexWafe at a price of €287.73 per share aggregating €25 million. RNESL will also be issued 36,201 warrants which are exercisable for a consideration of €1 per warrant subject to achievement of agreed milestones. The transaction is proposed to be completed by end of October.
Centrum Capital: Reserve Bank of India has issued small finance bank licence to a consortium of Centrum Financial Services Ltd (a subsidiary of Centrum Capital), and Resilient Innovations Private Limited (BharatPe), according to an exchange filing. The new entity will take over the assets and liabilities of Punjab and Maharashtra Co-operative Bank.
Aviation stocks: The government has announced the lifting of restrictions on capacity for domestic airlines from 18 October. The cap on fares and ban on meals will continue as of now. The removal of restrictions on capacity means that from winter schedule starting November airlines can operate a full complement of domestic flights.
Sobha Ltd: Real estate developer Sobha Ltd on Tuesday said it has launched its second project ‘Sobha Avalon’ in Gujarat International Finance Tec-City GIFT City, to expand its portfolio in the state. The premium 31-storeyed residential project is spead across 5,400 square meters. The construction firm has enjoyed a bull run on the market and the report may add to its momentum. The stock has grown from a low of ₹130.65 as on 27 March 2020, to ₹855 as of 12 October 2021.
Container corporation: The strategic sale of Container Corporation of India (Concor) is not happening in the current fiscal as the railway land usage policy is yet to be finalized, according to the Department of Investment and Public Asset Management secretary Tuhin Kanta Pandey. Pandey has said it takes about a year from the date of issue of Expression of Interest for the conclusion of any strategic sale.
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