Indian shares are likely to continue their record run on Wednesday following rallying US stocks. At 7:05 AM, the SGX Nifty was trading 0.15 percent higher at 12,207, indicating a positive start for the Sensex and Nifty50. Among the stocks in the news today, TCS was selected by US based Petco to drive its intelligent merchandising strategy while Goodyear India will close manufacturing operations plant at Ballabgar, Haryana. Here are the top stocks to watch out for in today's trade:
Bharti Airtel, Reliance Industries, Vodafone Idea: The TRAI has released a consultation paper asking all telecom operators and involve parties on if a floor price should be considered to revive the ailing telecom sector and what the modalities should be if that were to be considered. (Image: Reuters) (Disclaimer: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.)
Tata Consultancy Services Ltd (TCS): US based Petco selects TCS OptumeraTM, an Al-powered merchandise optimization suite to drive its intelligent merchandising strategy. The suite is a part of TCS' Algo Retail approach that enables retailers to seamlessly integrate and orchestrate data flows across the retail value chain, harnessing the power of analytics, Al and machine learning to unlock exponential business value.
Bank of Baroda: The state-run lender under-reported bad loans by Rs 5,250 crore for the FY2019, as per the Reserve Bank of India’s risk-assessment report. Bank of Baroda’s divergence in provisions for NPAs stood at Rs 4,090 crore. (Image: Reuters)
NBCC (India) Ltd: State-run NBCC's bid to acquire Jaypee Infratech has been approved by over 97 percent of the Committee of Creditors (CoC), sources told CNBC-TV18. The approval comes after the majority of the 23,000 homebuyers and banks voted in favour of NBCC over the other candidate- Suraksha Realty. (Stock Image)
Zee Entertainment Enterprises Ltd: Brickwork revises rating on 6 percent Cumulative Redeemable Pref Shares to AA from AA+. The downgrade in the rating factors the resignation of certain Independent Directors and the Company Secretary, along with dilution of controlling stake of the promoter and promoter group.
PC Jeweler: SEBI fined Shivani Gupta, Sachin Gupta, Amit Garg and Quick Developers, the promoters of PC Jeweller, a total of Rs 8 crore for alleged unlawful gains by violating insider trading norms.
Future Supply Chain Ltd: The board approved allotment of 37.89 lakh equity shares of Rs 10 each as fully paid up to Nippon Express (South Asia & Oceania) Pte. Ltd. on preferential basis at a price of Rs 664 per equity share.
Goodyear India: The company will close manufacturing operations plant at Ballabgar, Haryana, from December 21-30 to align production in line with the market demand.
Tata Power: The NCLT has sanctioned the scheme of arrangement amongst Tata Power Company, Tata Advanced Systems Ltd and their creditors and shareholders. (Image: Reuters)
Infosys: The company will pay California $800,000 (nearly Rs 56 crore) to resolve allegations that between 2006 and 2017, approximately 500 Infosys employees were working in the State on Infosys-sponsored B-1 visas rather than H-1B visas, California Attorney General Xavier Becerra said. This misclassification resulted in Infosys avoiding California payroll taxes such as the unemployment insurance, disability insurance, and employment training taxes. (Image: Reuters)
Axiscades Engineering Technologies: The company has been selected by Airbus to work on Fuselage, Product development and Customer support services across different Airbus locations. This is the third time Airbus has selected AXISCADES for critical engineering services, the company said. (Image: Reuters)
Prestige Estate Ltd: The board will consider raising of funds through preferential issue to an identified allottee on December 20.
Ineos Styrolution India Ltd: CARE Ratings downgraded long term ratings to CARE A+ from CARE AA- on account of de-growth in its scale of operations during H1FY20 along with continued subdued profitability due to sustained slowdown in demand from the automobile industry.
NMDC Ltd: The company has received allocation of ‘Rohne’ Coal Block. This allocation would ensure the coking coal requirement of l1MDC's upcoming steel plant at Nagarnar, Chattisgarh to some extent. Additionally, the company also received extension of mining leases of iron ore In Balidila, Chattisgarh for a period of 20 years, from Sept 2015 to 2035.
Allahabad Bank: CRISIL assigned AA-Rating watch with Negative implications to Tier-II bonds worth Rs 1,500 crore.