Stocks to Watch: Wipro, HUL, Lakshmi Vilas Bank, IRCTC, JSW Energy
Wipro will post its earnings for the September quarter todayAfter making a strong debut, IRCTC shares continued to gain, ending nearly 128% premium to the issue price of ₹320 per share
NEW DELHI : Here is a list of top 10 stocks that may remain in focus on Tuesday:
Wipro: The company will post its earnings for the September quarter on Tuesday. IT major TCS disappointed investors as it reported numbers lower than Street’estimates. The negative sentiment continued from Friday even as Infosys Ltd posted earnings that were above expectations. Shares of Infosys ended down 3.5% on Monday.
HUL: India’s largest packaged consumer goods maker on Monday reported a 23% increase in its net profit for the September quarter as it sold more personal and home care products and benefited from low raw material costs. However, the company cautioned against a demand slowdown. The numbers were reported after market hours.
IRCTC: After making a strong debut on the BSE Ltd and National Stock Exchange Ltd (NSE) on Monday, shares of Indian Railway Catering and Tourism Corporation (IRCTC) continued to gain, ending nearly 128% premium to the issue price of ₹320 per share. The initial public offering was subscribed 112 times, making it the most successful share sale of 2019.
Yes Bank: The bank on Monday sold 6.6% stake in leading hospital chain Fortis Healthcare for a little over ₹645 crore through an open market transaction. After the sale, the private lender holds just 1,850 shares in Fortis Healthcare, latest data available with BSE Ltd showed.
Lakshmi Vilas Bank: Reserve Bank of India (RBI) imposed a penalty of ₹1 crore on the private lender for violating asset classification and fraud detection norms. Shares of the bank have been under pressure after RBI placed the bank in the prompt corrective action list. The regulator also rejected the bank’s proposed merger with Indiabulls Housing Finance Ltd.
HDIL: Enforcement Directorate has identified assets worth ₹3,830 crore for attachment in the Punjab and Maharashtra Co-operative Bank Ltd (PMC Bank) scam, where promoters of the real estate firm Housing Development Infrastructure Ltd have been at the centre of the bank loan fraud, allegedly siphoning off funds worth ₹6,500 crore.
JSW Energy: The company on Monday said a committee of creditors overseeing the insolvency of Ind-Barath Energy (Utkal) Ltd has approved the resolution plan submitted by JSW Energy Ltd, the power generation business of Sajjan Jindal’s JSW Group. Ind-Barath owns 700 megawatts under-construction thermal power plant in Odisha.
Manpasand Beverages: BSE will suspend trading in shares of 16 companies including Manpasand Beverages Ltd and Binani Industries Ltd from 4 November for not complying with listing norms pertaining to submission of quarterly financial results. The exchange, however, said if any company complied with the listing norms on or before 31 October, trading will not be suspended.
Maruti Suzuki: The country’s largest vehicle manufacturer plans to collaborate with five startups as part of its Mobility and Automobile Innovation Lab (MAIL) programme to create value additions in the areas of logistics, Internet of Things (IoT)-based safety and monitoring, and plug-and-play solutions.
PSU Banks: Investors may watch this space as finance minister Nirmala Sitharaman on Monday said public-sector banks have “sufficient liquidity". The minister, who held a review meeting with chiefs of state-owned banks, said efforts are being made to ensure that dues are released to micro, small and medium enterprises sector by large corporates.
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