Stocks to Watch: Wipro, Tata Steel, Vodafone Idea, Mindtree
Premium- Mindtree, Den Networks, GTPL Hathway, MMTC, and AAR Commercial Company are scheduled to release their March quarter earnings today
PremiumNEW DELHI: Here is the list of stocks that could be in focus on Friday.
Wipro Ltd: Has posted a net profit of ₹2,972.3 crore, a nearly 28% increase from the year-ago period, on the back of higher revenues. The profit was above consensus Bloomberg estimates of ₹2,873.7 crore. Revenues for the fourth quarter grew 3.4% year-on-year to ₹16,245.4 crore on broad-based growth across sectors.
Tata Steel: The steel major on Thursday unveiled its transformation plans for a steel tube making site in the UK's East Midlands, which it said will give the business the best chance of a strong future.
Vodafone Idea: Following a show-cause notice from the department of telecom on non-payment of licence fee in seven circles, Vodafone Idea has now made full payment with interest.
IL&FS: Bankrupt infrastructure financier IL&FS on Thursday raised its debt recovery target to ₹61,000 crore, almost 62% of the total financial debt. Last year the group had sai it could resolve loans worth ₹56,000 crore. The new board led by veteran banker Uday Kotak said it had so far resolved debt worth ₹43,000 crore.
Piramal Capital & Housing Finance: Part of Piramal Enterprises aims to become a financial conglomerate, with a larger focus on retail credit and moving away from builder loans by leveraging its recent tie-ups with technology startups.
Ashoka Buildcon: The company has received a Letter of Award from Gujarat Rail Infrastructure Development Corp for project - Gauge Conversion of Bechraji - Ranuj section, with 25 KV AC electrification in Ahmedabad division of Western Railway. Project cost is Rs333.625 crore.
Dabur India: Crossed ₹1-trillion in market capitalisation on Thursday, after its shares rose 1.6% a fresh high of ₹569.20 apiece.
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Bajaj Auto: Forty eight hours after it re-opened bookings for Chetak, Bajaj Auto stopped accepting fresh orders due to supply chain issues, the company said in a statement on Friday. Bajaj’s maiden electric scooter, on sale since January 2020, hasn’t been able to align production to demand.
National Fertilizers: The government has issued request for proposals (RFP) for engagement of legal advisors, merchant bankers and selling brokers for disinvestment of 20% of its stake in National Fertilizers through the offer for sale route.
Tata Communications: Ace investor Rakesh Jhunjhunwala's wife Rekha Jhunjhunwala sold 2.5 lakh equity shares in Tata Communications in the quarter ended March, bringing her stake down to 1.04% of total paid up equity. She had owned 32,00,687 equity shares, representing 1.12% of total paid up equity, in the company as of December.
