India’s GDP may turn positive at 1.3% in the third quarter of 2020-21, having witnessed contraction in the previous two quarters due to the coronavirus pandemic, as the number of cases is falling and public spending has started rising, according to a report by DBS Group
NEW DELHI : Here’s a list of top stocks that could be in focus on Wednesday:
Tata Consumer Products: The Tata Group company will be included in the benchmark Nifty 50 index, with effect from 31 March, 2021, the National Stock Exchange (NSE) said. The company had reported a 25.26% rise in consolidated net profit to ₹237.03 crore for the third quarter ended December 2020, on the back of higher sales in branded business.
UPL Ltd: The agrochemical maker said the fire that broke out at its plant in Gujarat had killed two and injured 26. Five workers were still missing. The fire may have been caused due to an electric short circuit, it said in a regulatory filing after market hours.
State Bank of India: The lender has shelved plans to hive off its super app Yono. It will instead build the app into a wider platform that can be used by rival lenders and add more capabilities to it.
GAIL India: The state-owned gas company will be excluded from the Nifty 50 index with effect from 31 March, 2021, the National Stock Exchange said on Tuesday after revising the index maintenance guidelines, criteria and methodology.
NTPC: The company has signed a share purchase agreement to buy GAIL's 25.51% stake in Ratnagiri Gas and Power Pvt Ltd, commonly known as Dabhol project. After the transaction is complete, NTPC would have 86.49% stake in the RGPPL. NTPC also said it has raised ₹900 crore through issuance of unsecured, redeemable, taxable, listed, rated non-convertible debentures.
Telecom companies: The telecom regulator may consider lowering the minimum price for 5G spectrum if the government directs it to do so because of concerns that the pricing set for the airwaves could hurt the rollout of the latest wireless technology.
Jet Airways: The consortium chosen to resurrect the airline has proposed to invest ₹600 crore in the first two years in the grounded airline to repay creditors and acquire an 89.79% stake in the carrier. the consortium plans to replace 11 existing older planes owned by Jet with six narrow-body Boeing 737 planes, which will be used to initially operate on domestic routes and further extended to short-haul international destinations.
United Spirits: The liquor maker is initiating a strategic review of select popular brands in the country, it said on Tuesday. This comes as it chases more profitable growth by way of premiumizing its portfolio of brands while sharpening its focus on core popular liquor and pricey global spirits here. USL’s popular portfolio comprises around 30 brands and the strategic review will look at approximately half of it by volume.
Sanofi India: The pharma company has approved a special dividend of ₹240 per share for the year ended 31 December. It has also approved a final dividend of ₹125 per share for the same period. The company reported a net profit of ₹123 crore, up 26% for the quarter ended December, while revenue from operations declined to ₹720 crore from ₹826 crore.
Sun Pharma Advanced Research Company: The US FDA has ruled against its appeal related to Taclantis, its under development product for treatment of breast cancer. The Office of New Drugs (OND) of the US FDA has denied the company's appeal of the Complete Response Letter in relation to the new drug application for Taclantis.
Coal India: The board of directors is scheduled to meet on March 5, 2021 to consider and approve payment of second interim dividend for 2020-21. The company has fixed March 16, 2021 as the record date for the payment of dividend, if declared by the board.