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Home >Markets >Stock Markets >Stocks to Watch: Wipro, Infosys, SAIL, M&M, Hindustan Aeronautics, NHPC
Wipro and Infosys reported earnings after market hours on Wednesday. Photo: Reuters
Wipro and Infosys reported earnings after market hours on Wednesday. Photo: Reuters

Stocks to Watch: Wipro, Infosys, SAIL, M&M, Hindustan Aeronautics, NHPC

  • Infosys and Wipro reported soaring quarterly sales and profit, leading a group of software services companies that have seen their businesses thrive because of a surge in demand for digital services that helped mitigate the unprecedented disruptions caused by the pandemic

Here’s a list of top ten stocks that may be in news on Thursday:

Wipro: The IT major reported nearly 21% rise in consolidated net profit to 2,967 crore for the quarter ended December. Revenue rose 1.3% to 15,670 crore. In dollar terms, revenue grew 3.9% to $2.07 billion from the preceding three months. Wipro forecast revenue growth in the March quarter to be in the range of 1.5-3.5%.

Infosys: The company recorded better-than-expected earnings performance in the third quarter with revenues rising 12% to 25,927 crore, while profit increased 16.6% to 5,197 crore. Infosys raised FY21 revenue growth guidance to 4.5%-5.0% in constant currency, while increasing operating margin guidance to 24.0%-24.5%.

Steel Authority of India Ltd: The government has proposed to sell 206.5 million shares of the company via offer for sale. It also has a greenshoe option to sell up to 20.65 crore additional shares in the company. The floor price has been set at 64 per share. The OFS for non-retail investors opens on Thursday, while for retail investors, it will start on Friday.

Mahindra & Mahindra: The automaker’s North American unit, Mahindra Automotive North America (MANA) has shed some jobs to make the company leaner and optimize performance and productivity. A Reuters story claimed MANA had cut over half its workforce owing to covid-19 related challenges.

Hindustan Aeronautics: A Cabinet panel has cleared the 48,000-crore purchase of 83 light combat aircraft (LCA-Tejas) from the state-run company, in the biggest contract awarded to India’s homegrown military aviation industry. HAL is to deliver 73 fighters and 10 trainers by 2026.

NHPC: The company has signed an agreement for implementation of the approved resolution plan for takeover of Jalpower Corporation Ltd, which is implementing the 120MW Rangit stage-IV hydropower project in Sikkim. NHPC will make upfront payment of 165 crore for the resolution plan of JPCL.

Bank of Baroda: The state-run lender said it has raised over 969 crore through a private placement of bonds. The fund was raised through unsecured subordinated non-convertible fully paid up Basel III compliant additional tier I bonds.

Adani Green: Adani Trading Services LLP, a promoter entity sold 2 crore shares of the company worth over 1,840 crore through open market transactions. Adani Trading Services had divested 2,00,96,000 scrips of the company in the price range of 906 to 916.15.

Power Grid Corp: The company has signed termination deal among Reliance Infrastructure and Parbati Koldam Transmission. Reliance Infrastructure had earlier said it has completed the sale of its entire 74%stake in Parbati Koldam to India Grid Trust for 900 crore.

Advanced Enzyme Technologies: The company has completed the acquisition of controlling stake of 51% in SciTech Specialities Private Ltd. The acquisition is by way of subscription to the issue of 492,630 shares of SSPL and purchase of 27,778 equity from a few shareholders of SSPL. Accordingly, SSPL has become a subsidiary of the company, effective 11 January.

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