Stocks to Watch: TCS, Future Retail, SBI, Wipro, L&T1 min read . Updated: 08 Oct 2020, 07:58 AM IST
- TCS reported a broad-based growth rebound across industries and markets, reporting a 3% rise in revenue to ₹40,135 crore in the September quarter
Here’s a list of top ten stocks that may be in news on Thursday:
Tata Consultancy Services: The IT major reported a broad-based growth rebound across industries and markets, reporting a 3% rise in revenue to ₹40,135 crore in September quarter. TCS will spend ₹16,000 crore to buy back as many as 53.3 million shares at ₹3,000 apiece, a 10% premium to Wednesday’s closing price.
State Bank of India: With the gradual unlocking, economic activities have picked up pace, and the country’s largest lender is currently witnessing credit growth of 6-7%. Although there are concerns in some sub-segments, SBI is back to 70-80% of pre-Covid levels.
Future Retail: Amazon.com Inc. has sent a legal notice to Kishore Biyani-led Future Group over its ₹24,700-crore asset sale to Reliance Retail Ventures Ltd, calling it a breach of a 2019 agreement between Amazon and Future.
Wipro: The IT services firm is considering a proposal to buy back equity shares of the company at a meeting scheduled to be held on 13 October. It will also announce its results for the September quarter that day.
Energy companies: A Cabinet panel has approved formulation of a standard procedure for market price discovery of gas across various contractual regimes. A standardized e-bidding mechanism will be proposed by the DGH for transparent discovery of gas market price.
ITC: The Savlon brand is expected to touch ₹1,000 crore in consumer spends this fiscal year, making it the largest brand in the company’s personal care products portfolio amid demand for health and hygiene products due to the pandemic.
Larsen & Toubro: At least 15 private companies, including BHEL and L&T, have participated in the bidding process for operating passenger trains in 12 clusters.
Bandhan Bank: The Kolkata-based private sector lender said its total advances grew 3% to ₹76,724 in the second quarter while deposits were up 9% to ₹66,153 crore.
Dr Reddy's Laboratories: The company got US FDA's approval for Icatibant Acetate Injectable, used to treat acute attacks of hereditary angioedema in adults, and ephedrine sulphate for treatment of allergic disorders such as bronchial asthma.
Lakshmi Vilas Bank: Brickwork Ratings has downgraded the ratings for LVB’s tier-II bonds from BB+ to B+ because of the recent ouster of seven of its directors, including the managing director, weak capitalisation and concerns over asset quality.