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Top stocks to watch out for on July 10: IndiGo, TCS, DHFL, SBI

Updated : 2019-07-10 07:49:25

Indian shares are set for a flat start on Wednesday amid muted trades in global markets and post-Budget selling pressure. Asian shares traded little changed following losses in US markets as investors await Fed chairman Jerome Powell's testimony before Congress for further cues on Federal Reserve’s monetary policy. At 7.18 AM, the SGX Nifty futures traded 0.10 percent up, pointing to a tepid start for the Sensex and the Nifty 50. Here are the top stocks to watch out for in today's trade:

Indigo: The simmering differences between the co-founders of IndiGo have erupted into a full-blown corporate battle, with Rakesh Gangwal seeking the intervention of market regulator Sebi to resolve his “alleged grievances” and Rahul Bhatia calling on the board of airline’s holding company to resist attempts by the former to “damage” the company. The “alleged grievances” are a reference to Gangwal’s concerns over violation of governance norms and related party transactions (RPTs) benefiting companies owned by Rahul Bhatia. (Image: Getty Images)
Indigo: The simmering differences between the co-founders of IndiGo have erupted into a full-blown corporate battle, with Rakesh Gangwal seeking the intervention of market regulator Sebi to resolve his “alleged grievances” and Rahul Bhatia calling on the board of airline’s holding company to resist attempts by the former to “damage” the company. The “alleged grievances” are a reference to Gangwal’s concerns over violation of governance norms and related party transactions (RPTs) benefiting companies owned by Rahul Bhatia. (Image: Getty Images)
TCS: Tata Consultancy Services (TCS), India’s largest IT services company by revenue, on Tuesday, reported a 10.8 percent year-on-year (YoY) jump in net profit at Rs 8,131 crore for the first quarter ended June 2019. (Image: Reuters)
TCS: Tata Consultancy Services (TCS), India’s largest IT services company by revenue, on Tuesday, reported a 10.8 percent year-on-year (YoY) jump in net profit at Rs 8,131 crore for the first quarter ended June 2019. (Image: Reuters)
DHFL: Cash-strapped Dewan Housing Finance Limited (DHFL) is set to present a resolution proposal to its lenders on July 11, sources involved in the negotiations told CNBC-TV18. DHFL is likely to propose September 25 as the longstop date for reaching an agreement with a private equity investor for a potential stake sale deal and finalise the debt restructuring proposal, sources said, and it expects to raise as much as Rs 7,000 crores via this deal. (Image: Reuters)
DHFL: Cash-strapped Dewan Housing Finance Limited (DHFL) is set to present a resolution proposal to its lenders on July 11, sources involved in the negotiations told CNBC-TV18. DHFL is likely to propose September 25 as the longstop date for reaching an agreement with a private equity investor for a potential stake sale deal and finalise the debt restructuring proposal, sources said, and it expects to raise as much as Rs 7,000 crores via this deal. (Image: Reuters)
State Bank of India: The country’s largest lender, has reduced its key lending rate by 5 basis points (bps) across all tenors effective from today. The one-year MCLR rate will fall to 8.4 percent per annum from 8.45 percent, the bank said. As a result, interest rates on all loans linked to MCLR stand reduced by 5 bps with effect from July 10, 2019, it said. (Image: Reuters)
State Bank of India: The country’s largest lender, has reduced its key lending rate by 5 basis points (bps) across all tenors effective from today. The one-year MCLR rate will fall to 8.4 percent per annum from 8.45 percent, the bank said. As a result, interest rates on all loans linked to MCLR stand reduced by 5 bps with effect from July 10, 2019, it said. (Image: Reuters)
Manpasand Beverages: Mehra Goel & Co resigned as statutory auditors due to probe into the company by GST authorities. (Image: Company)
Manpasand Beverages: Mehra Goel & Co resigned as statutory auditors due to probe into the company by GST authorities. (Image: Company)
BHEL: An agreement has been signed between the company and Container Corporation of India to form Joint Working Group to establish rail-based logistics terminal at Haridwar. (Image: Company)
BHEL: An agreement has been signed between the company and Container Corporation of India to form Joint Working Group to establish rail-based logistics terminal at Haridwar. (Image: Company)
KRBL: ICRA revised rating on the company's banking limits on long term scale to AA- from AA (Stable). (Image: Reuters)
KRBL: ICRA revised rating on the company's banking limits on long term scale to AA- from AA (Stable). (Image: Reuters)
Adani Ports: Adani Ports and Special Economic Zone (APSEZ) said Tuesday its board later this week will consider raising up to $700 million through foreign currency bonds.<br />The bonds may be issued in various tranches, it said. A meeting of the company's board of directors will be held on July 12 to consider raising funds by way of issuance of dollar-denominated foreign currency bonds which may be issued in one or more tranches overseas, APSEZ said in a regulatory filing to the BSE. (Image: Company)
Adani Ports: Adani Ports and Special Economic Zone (APSEZ) said Tuesday its board later this week will consider raising up to $700 million through foreign currency bonds.
The bonds may be issued in various tranches, it said. A meeting of the company's board of directors will be held on July 12 to consider raising funds by way of issuance of dollar-denominated foreign currency bonds which may be issued in one or more tranches overseas, APSEZ said in a regulatory filing to the BSE. (Image: Company)
Ashok Leyland: Commercial vehicle major Ashok Leyland is ready with its electric vehicle strategy even as it prepares to shift its entire model line to conform to BS VI emission norms from April 1, 2020, chairman Dheeraj G Hinduja said. In a message to shareholders in the company's Annual Report for 2018-19, Hinduja said the firm is also in the process of launching new light commercial vehicles (LCVs) starting April next year. (Image: Company)
Ashok Leyland: Commercial vehicle major Ashok Leyland is ready with its electric vehicle strategy even as it prepares to shift its entire model line to conform to BS VI emission norms from April 1, 2020, chairman Dheeraj G Hinduja said. In a message to shareholders in the company's Annual Report for 2018-19, Hinduja said the firm is also in the process of launching new light commercial vehicles (LCVs) starting April next year. (Image: Company)
NLC India: Pursuant to the confirmation received from TANGEDCO, 63 MW capacity out of the 100 MW Solar PV power plant at Therkkupatti and Subbiahpuram Village, Tamil Nadu, out of 709 MW solar power projects awarded by TANGEDCO has been successfully commissioned. (Image: Stock)
NLC India: Pursuant to the confirmation received from TANGEDCO, 63 MW capacity out of the 100 MW Solar PV power plant at Therkkupatti and Subbiahpuram Village, Tamil Nadu, out of 709 MW solar power projects awarded by TANGEDCO has been successfully commissioned. (Image: Stock)
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