India’s factory output contracted the most in six months in February for the second consecutive month, even before the second wave of the coronavirus pandemic hit the economy, while retail inflation jumped to a 4-month high in March
NEW DELHI: Here are the top 10 stocks that could be in focus on Tuesday:
Tata Consultancy Services: The IT major's fiscal fourth-quarter profit rose 14.9% on year, in line with analysts’ estimates, as the pandemic spurred demand for digital services. Net profit rose to ₹9,246 crore in the three months ended 31 March while revenue grew 9.4% on year to ₹43,705 crore.
Dr Reddy’s Laboratories: Drugs Controller General of India V.G. Somani late on Monday gave emergency use license to covid-19 vaccine Sputnik V. The Indian pharma major is the only company licensed to sell the vaccine in India.
Auto stocks: Sales of passenger vehicles rose 3.39% month-on-month to 290,939 units in March on the back of a 6.9% jump in dispatches of utility vehicles to 122,250 and a more moderate 1.19% increase in passenger car sales to 156,985 units.
Yes Bank: Sebi on Monday imposed a fine of ₹25 crore on Yes Bank in the additional tier 1 bonds (AT1) mis-selling case. It has also penalised former head of the bank's private wealth management team Vivek Kanwar with a fine of ₹1 crore, and two other former executives, Ashish Nasa and Jasjit Singh Banga, with a fine of ₹50 lakh each.
Adani Group: Flipkart has partnered with infrastructure firm Adani Group to set up a data centre in Chennai and a large fulfilment centre in Kalyan, near Mumbai. The e-commerce company said it will work with Adani Logistics Ltd, and a subsidiary of Adani Ports and Special Economic Zone, to strengthen its supply chain and serve its growing customer base.
ONGC: State-owned Oil and Natural Gas Corp. Ltd (ONGC) on Monday invited bids for the sale of initial 2 million standard cubic metres per day of gas from its KG Basin fields at a minimum price of $6.6 per mmBtu.
IDBI Bank: The Union Cabinet will soon consider the proposal to sell the government’s 45.5% in IDBI Bank, paving the way for strategic divestment in the lender. An approval will be sought to give the Department of Investment and Public Asset Management (Dipam) the authority to move ahead with the divestment process.
Coforge Ltd: IT services firm Coforge Ltd, formerly NIIT Technologies, on Monday said it has signed definitive agreements to acquire a controlling stake in SLK Global Solutions Pvt. Ltd, a business process transformation firm offering BPM and digital solutions for the financial services industry.
Bank stocks: Bank credit grew 5.56% to ₹109.51 lakh crore, while deposits rose 11.4% to ₹151.13 lakh crore in the concluded financial year, as per data released by the Reserve Bank of India (RBI) showed. In 2019-20, advances had grown at 6.1% and deposits at 7.9%.
Airline stocks: The government has banned meal services on board flights with a travel duration of less than two hours, effective 15 April. The ban aims to minimise instances of passengers taking off masks, which are an essential part of measures taken to contain the spread of the pandemic amid a surge in cases in the country.
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