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Business News/ Markets / Stock Markets/  Stocks to Watch: Infosys, Yes Bank, Tata Motors, Lupin, Vodafone Idea
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Stocks to Watch: Infosys, Yes Bank, Tata Motors, Lupin, Vodafone Idea

Shares of Infosys will be in limelight after the company received a second undated whistleblower letter
  • Tata Motors on Tuesday reported a 19% decline in global wholesale numbers
  • BHEL, SpiceJet will announce their Q2 earnings result today.Premium
    BHEL, SpiceJet will announce their Q2 earnings result today.

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

    Infosys: Asia’s second largest IT services provider has received a second undated whistleblower letter, accusing the company’s chief executive Salil Parekh of committing misdeeds and urging the chairman and board of directors to act against the latter. This while the firm is still probing allegations by a group of employees against the top management for accounting malpractices.

    Yes Bank: Sunil Munjal, chairman of Hero Corporate Services Ltd, and veteran investment banker and founder of DSP Group Hemendra Kothari have held separate talks with the private lender to buy 5-10% stake each in the bank, according to a Mint report. Shares have been on the rise since the bank announced it received offers worth $3 billion from investors for fund raising.

    Tata Motors: The auto major on Tuesday reported a 19% decline in global wholesale numbers, including that of Jaguar Land Rover, to 89,108 units in October as against 109,597 units sold in the same month last year. Meanwhile, Moody’s Investors Service gave Ba3 rating to the proposed senior unsecured notes to be issued by the company with a negative outlook.

    Sun Pharma: The National Pharmaceutical Pricing Authority has exempted the pharma major’s gemcitabine hydrochloride injection from price control in the last meeting on 30 October, according to minutes of the meeting. The ready-to-use infusion bags of gemcitabine hydrochloride injection exhibits anti-tumor activity and is used to treat various kinds of cancer.

    Lupin: The pharmaceutical company on Monday announced the sale of entire 99.82% stake in its Japanese subsidiary Kyowa Pharmaceutical Industry Co Ltd for an enterprise value of 57.4 billion yen to Plutus Ltd. The divested business recorded revenues of 14.24 billion yen in the first half of the year.

    Vodafone Idea: Vodafone Group PLC said its future in India is shaky unless the Centre stopped hitting operators with higher taxes and charges, after the Supreme Court ruled against the country’s telecom firms in the adjusted gross revenue case. According to a Reuters report, Vodafone chief executive Nick Read said the situation has been “very challenging" for a long time.

    Hindalco: The company on Monday said its consolidated net profit for the September quarter fell 33% from a year ago to 974 crore due to fall in revenue. It had posted a net profit of 1,448 crore a year ago. Revenues fell 9% to 29,657 crore due to decrease in average base aluminium prices and local market premiums, partially offset by higher total shipments and favorable product price and mix.

    Housing Finance Companies: The Reserve Bank of India withdrew certain exemptions granted to housing finance companies (HFCs), bringing these firms on a par with non-banking financial companies in terms of regulations. This comes after the Finance Act, 2019 amended the National Housing Bank, 1987, conferring certain powers for regulation of HFCs with the Reserve Bank.

    BHEL: The state-owned power equipment producer will announce its earnings for the quarter-ended September today. Investors have been cheering news reports that the government is planning to sell its stake in the company and bringing it below 51%. Separately, state-run trading company MMTC Ltd will also release its numbers for the September quarter.

    SpiceJet: The private airline will report its earnings for July-September today. Separately, rival IndiGo, owned and operated by InterGlobe Aviation Ltd, last week announced a code share agreement with Qatar Airways. The agreement will be operational from December once the systems of both the airlines are integrated.

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    Published: 13 Nov 2019, 08:02 AM IST
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