Here is a list of top 10 stocks that may be in focus on Thursday:
Yes Bank: Moody’s Investor Service on Wednesday placed the private lender’s foreign currency issuer rating of Ba3 under review downgrade following its weak performance in the September quarter, leading to concerns over the bank’s overall financial position and uncertainty around regulatory approvals for its plan to raise $1.2 billion in equity capital.
Tata Steel: The country’s largest steel maker reported a net profit of ₹3,302 crore in the September quarter, up nearly 6% year-on-year led by a one-time gain and a favourable tax regime. The company had reported a consolidated net profit of ₹3,116 crore in the same period last year. However, revenue from operations fell 15.45% to ₹34,579 crore from ₹40,807 crore a year ago.
Realty Stocks: The government on Wednesday cleared a plan to infuse ₹10,000 crore in an alternative investment fund to revive stalled housing projects that could potentially benefit 4.58 lakh home buyers and revive the ailing sector. The government will also rope in State Bank of India and Life Insurance Corporation to put another ₹15,000 crore into the fund.
SBI: India’s largest public-sector bank will infuse ₹15,000 crore along with Life Insurance Corporation to complete held-up housing projects. Shares of the lender have been on the rise on the back of strong financial performance in the September quarter and after Chairman Rajnish Kumar told investors that the bank’s performance is set to improve from fiscal 2021 due to robust growth outlook and stable asset quality.
Infosys: The stock was among the top gainers among Nifty 50 companies on Wednesday after chairman Nandan Nilekani said the company will take necessary steps if probe into whistleblower complaints substantiated claims of corporate misgovernance by the management, adding that the firm has responded responsibly and complied with applicable laws and past practices.
BPCL: The state-owned fuel retailer will announce its earnings for the quarter ended September today. Shares have been on the rise with reports of the government planning to privatise the company. The government has proposed to entirely sell its 53.3% stake in Bharat Petroleum Corporation Ltd (BPCL), which is a part of the Centre’s budgeted divestment target of ₹1.05 lakh crore.
Indiabulls Housing: The company, after market hours on Wednesday, reported a more than 32% decline in consolidated net profit to ₹702.18 crore in the September quarter as against a net profit of ₹1,032.92 crore in the same period last year. Total income fell to ₹3,420.45 crore during the quarter from ₹4,55.27 crore a year ago.
Lupin: The pharmaceutical company posted a loss of ₹1.3 billion in July-September compared with a profit of ₹2.7 billion a year ago, as the company’s financials were hit by a provision for a settlement in a US court and the loss it incurred due to divestment of its Japanese subsidiary Kyowa CritiCare Co Ltd. The total one-time loss was ₹5.5 billion in the said quarter.
Andhra Bank: The public-sector bank will report its earnings for July-September today. Separately, another state-run lender UCO Bank is also set to release its numbers for the second quarter of this fiscal. While Andhra Bank will be merged into Union Bank of India along with Corporation Bank as part of the government’s mega PSU bank merger plan, UCO Bank will remain independent.
Thomas Cook: The travel services provider will announce its earnings for the second quarter today. Shares of the Indian firm have been losing value since the British company Thomas Cook PLC declared bankruptcy in September. Both share a name after the Indian agency bought rights to retain it until 2025 but do not have any business relation.