Here is a list of top 10 stocks that may be in focus on Tuesday:
RIL: The company on Friday reported an 18.3% jump in its net profit to a record ₹11,262 crore for the September quarter, led by a turnaround in refining margins during the quarter. Reliance Industries Ltd (RIL) had posted a profit of ₹9,516 crore a year ago. RIL also became the first Indian company to cross ₹9 trillion market capitalization.
Infosys: An anonymous group of employees has accused the management of taking “unethical" steps to boost short-term revenue and profits. The group, which calls itself “ethical employees", has complained to the board of Infosys Ltd and the US Securities and Exchange Commission (SEC). The whistleblower complaint triggered a massive sell off in the company’s American depositary receipts (ADRs) on Monday. Indian financial markets were shut on Monday.
Piramal Enterprises: The firm on Monday reported a 15.3% rise in its net profit to ₹554 crore for July-September on the back of a robust performance in its pharma and healthcare business. The Mumbai-based diversified conglomerate saw its revenue jump 18% to ₹3603.56 crore during the second quarter. Its financial services business grew 13% on year due to a three-fold increase in housing loan book.
Yes Bank: Shares of the private lender had surged more than 8% on Friday after a news report suggested that industrialists Sunil Mittal and Sunil Munjal were interested in buying stake in the bank. However, the bank declined commenting on the news as it was not aware of the source, it said in an exchange filing. The stock has seen its value erode due to concerns around the bank’s stressed financials.
DHFL: A forensic audit of Dewan Housing Finance Corporation Ltd, conducted by accounting firm KPMG and submitted to the lenders of the debt-ridden mortgage lender last week, has revealed several gaps in the financials, according to a Mint report. The new disclosures can jeopardise the ongoing resolution process.
Tata Motors: British lawmakers on Saturday voted to delay a decision on Prime Minister Boris Johnson's Brexit deal. This may put the stock under pressure due to uncertainty around no-deal Brexit. Tata Motors-owned luxury carmaker brand Jaguar Land Rover (JLR) has decided to suspend all manufacturing operations in the UK for a week starting 4 November anticipating disruption in supply chains.
BPCL: Saudi Aramco, Rosneft, Kuwait Petroleum, ExxonMobil, Shell, Total SA and Abu Dhabi National Oil Co. are among companies that have had conversations with the Indian government on asset sales and are likely to bid for the government’s stake in Bharat Petroleum Corporation Ltd. The privatization of BPCL is expected to attract global energy majors given that India is the world’s fastest-growing major oil market.
Tata Steel: A possible delay in Brexit deal could impact the operations of the company, which is one of Europe's leading steel producers, with production in the Netherlands and the UK, and manufacturing plants across Europe. Automotive, constructive and packaging are the key UK markets for Tata Steel BSL Ltd.
Wipro: The company plans to promote around 5,000 employees in the coming quarters to check attrition and make the firm future-ready, according to a Business Standard report. For the quarter ended September, the Bengaluru-based company’s attrition rate stood at 17%, 60 basis points sequentially.
Bharti Infratel: The merger of Bharti Infratel Ltd and Indus Towers has hit a roadblock due to delay in securing government approvals and a new committee will now explore “all possible options". The companies aimed to complete the merger by August, Bharti Infratel Chairman Akhil Gupta had told analysts in July.