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CNBC-TV18's top stocks to watch out for on January 16

Updated : 2020-01-16 07:40:18

Indian shares are expected to open higher on Thursday, following positive sentiment in the global markets after the US and China signed an initial trade deal to ease an 18-month tariff war between the two countries. Among the stocks in news today, L&T Infotech and Sterlite Technologies reported their December quarter earnings. The CCI has ordered a probe against Asian Paints for unfair business practices. Here are the top stocks in focus today:

L&T Infotech reported a marginal increase in consolidated net profit to Rs 376.7 crore for the quarter ended December 2019 from Rs 375.5 crore a year ago. Its revenue grew 13.7 percent to Rs 2,811.1 crore in the reported quarter from Rs 2,472.9 crore in the year-ago period. Sequentially, the net profit was up 4.6 percent, while the topline rose 9.4 percent.
L&T Infotech reported a marginal increase in consolidated net profit to Rs 376.7 crore for the quarter ended December 2019 from Rs 375.5 crore a year ago. Its revenue grew 13.7 percent to Rs 2,811.1 crore in the reported quarter from Rs 2,472.9 crore in the year-ago period. Sequentially, the net profit was up 4.6 percent, while the topline rose 9.4 percent.
The Competition Commission of India ordered a probe against Asian Paints for allegedly hindering the entry of JSW Paints by virtue of its dominance in the market for manufacture and sale of decorative paints. The order came after JSW Paints filed a complaint alleging that Asian Paints threatened various dealers in Karnataka, Telangana and Tamil Nadu from dealing with JSW Paints.
The Competition Commission of India ordered a probe against Asian Paints for allegedly hindering the entry of JSW Paints by virtue of its dominance in the market for manufacture and sale of decorative paints. The order came after JSW Paints filed a complaint alleging that Asian Paints threatened various dealers in Karnataka, Telangana and Tamil Nadu from dealing with JSW Paints.
Telecom operators Bharti Airtel, Reliance Jio and Vodafone Idea have submitted their applications for 5G trials, PTI reported. Airtel has joined hands with Huawei, ZTE, Ericsson and Nokia for 5G trials in the country, while Jio has partnered Samsung, sources said. Vodafone Idea has also filed its application for 5G trials and the company has partnered Huawei, ZTE, Ericsson and Nokia for the same, the sources added.
Telecom operators Bharti Airtel, Reliance Jio and Vodafone Idea have submitted their applications for 5G trials, PTI reported. Airtel has joined hands with Huawei, ZTE, Ericsson and Nokia for 5G trials in the country, while Jio has partnered Samsung, sources said. Vodafone Idea has also filed its application for 5G trials and the company has partnered Huawei, ZTE, Ericsson and Nokia for the same, the sources added.
Sebi has rejected Axis Bank's plea to allow the lender to invoke the pledge on shares in the Karvy Stock Broking Ltd matter. Axis Bank, later in a statement, said it has filed an appeal before the Securities Appellate Tribunal (SAT) against the order passed by Sebi. Regarding pledging of securities of fully paid clients, Sebi said a stock broker has no authority to pledge the securities of its fully paid clients. If a broker pledges securities of its fully paid clients, it amounts to misappropriation of clients' securities.
Sebi has rejected Axis Bank's plea to allow the lender to invoke the pledge on shares in the Karvy Stock Broking Ltd matter. Axis Bank, later in a statement, said it has filed an appeal before the Securities Appellate Tribunal (SAT) against the order passed by Sebi. Regarding pledging of securities of fully paid clients, Sebi said a stock broker has no authority to pledge the securities of its fully paid clients. If a broker pledges securities of its fully paid clients, it amounts to misappropriation of clients' securities.
Yes Bank has acquired 10.25 percent stake in Sical Logistics via pledge invocation. Allaying concerns over reports of its weakening financial health, Yes Bank said the lender's capital adequacy is at a comfortable level and efforts are being made to further strengthen it. The bank has asked its customers not to pay heed to rumours about its financial health. The bank plans to convene an extraordinary general meeting on February 7 to get shareholders' nod for raising Rs 10,000 crore and to increase authorised capital from existing Rs 800 crore to Rs 1,100 crore, already cleared by the board.
Yes Bank has acquired 10.25 percent stake in Sical Logistics via pledge invocation. Allaying concerns over reports of its weakening financial health, Yes Bank said the lender's capital adequacy is at a comfortable level and efforts are being made to further strengthen it. The bank has asked its customers not to pay heed to rumours about its financial health. The bank plans to convene an extraordinary general meeting on February 7 to get shareholders' nod for raising Rs 10,000 crore and to increase authorised capital from existing Rs 800 crore to Rs 1,100 crore, already cleared by the board.
Sterlite Technologies reported a net profit of Rs 91 crore (excluding exception items) during December 2019 quarter from Rs 146 crore in October-December quarter a year ago. Its consolidated revenue stood at Rs 1,203 crore during December quarter as against Rs 1,335 crore a year ago. The company's exceptional items stood at Rs 51 crore in the third quarter of 2019-20.
Sterlite Technologies reported a net profit of Rs 91 crore (excluding exception items) during December 2019 quarter from Rs 146 crore in October-December quarter a year ago. Its consolidated revenue stood at Rs 1,203 crore during December quarter as against Rs 1,335 crore a year ago. The company's exceptional items stood at Rs 51 crore in the third quarter of 2019-20.
Torrent Pharma board will consider raising funds via equity on January 27.
Torrent Pharma board will consider raising funds via equity on January 27.
GE Group company GE T&D India has appointed Pitamber Shivnani as CEO and president of the company's grid business in South Asia with immediate effect. He replaced Sunil Wadhwa, who left the company to pursue opportunities outside GE.
GE Group company GE T&D India has appointed Pitamber Shivnani as CEO and president of the company's grid business in South Asia with immediate effect. He replaced Sunil Wadhwa, who left the company to pursue opportunities outside GE.
DFM Foods promoters along with certain other shareholders have entered into share purchase agreements with AI Global Investments with regards to the transfer of their shareholding.
DFM Foods promoters along with certain other shareholders have entered into share purchase agreements with AI Global Investments with regards to the transfer of their shareholding.
Q3 Earnings Today: Cyient, Karnataka Bank, Rallis India, South Indian Bank, Tata Metaliks, 5paisa, AB Money, Hathway Cable.
Q3 Earnings Today: Cyient, Karnataka Bank, Rallis India, South Indian Bank, Tata Metaliks, 5paisa, AB Money, Hathway Cable.
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