Infosys will announce its September quarter earnings on Wednesday. The IT major is likely to report double-digit profit growth on account of strong deal wins
Here’s a list of top ten stocks that may be in news on Wednesday:
Wipro: The company expects its IT services revenue to grow as much as 3.5% sequentially in the December quarter. The board has approved buyback up to 4.16% of the company’s shares outstanding at ₹400 apiece for a total of ₹9,500 crore. The IT major posted a 3.2% sequential growth in net profit in the September quarter.
Infosys: The IT major, which will announce its September quarter earnings on Wednesday, is likely to report double-digit profit growth on account of strong deal wins.
Banks and financials: The Supreme Court has listed the interest waiver case for hearing on Wednesday. In an affidavit filed in the SC, the RBI has warned of risks to the banking sector if the stay on the classification of bad loans isn’t lifted right away. The court was earlier set to hear the case on Tuesday.
Future group companies: The group has engaged senior advocate Harish Salve for its potential legal battle with Amazon which has challenged the Kishore Biyani group over its deal to sell retail assets to Retail Industries without the US firm's approval, The Economic Times reported.
Vedanta: After a plan to delist its Indian unit failed, Anil Agarwal’s commodities group will repay $1.4 billion raised via bonds and another $1.1 billion in loans, with a small amount of interest, to banks and bondholders as early as this week, Bloomberg reported. The company also said it is committed to investing in the country that offers unparalleled opportunities and growth.
NTPC: The company has decided to raise Rs.4,000 crore on 15 October through private placement of unsecured non-convertible bonds in the nature of debentures at a coupon of 5.45% per annum with a door-to-door maturity of five years.
Drug companies: The government’s move to reduce India’s dependence on China for crucial raw materials used in medicines has led to the creation of local monopolies in a growing number of product categories. This, experts said, may lead to supply constraints and price increases if left unchecked.
Maruti Suzuki: The company plans to introduce a slew of new sport utility vehicle (SUVs) models over the next couple of years as it seeks to straddle the segment with multiple product offerings at varied price points, said people aware of the company’s plans.
Coal India: The state-owned company said the total coal allocation under its four e-auction windows registered about 65% year-on-year rise during the first half of the current financial year. The increase in volume terms stood at 16.3 MT, it added.
GMM Pfaudler: Sebi has initiated probe into alleged insider trading into the shares of the company ahead of the OFS by the Indian promoter group, The Economic Times reported.