The Indian market is likely to open in the green on Tuesday, as SGX Nifty, an indicator of the opening for the Sensex and the Nifty, was trading higher by 37 points at 12,078.50 at 7:18 am, hinting at a positive start for the domestic market. Here are the top stocks to watch out for:
Infosys: Infosys will acquire US-based cloud consulting firm Simplus. The Bengaluru-based company announced on Monday an agreement to acquire Simplus, one of the Salesforce Platinum Partners in the US and Australia. The acquisition is expected to close during the fourth quarter of the financial year 2019-20, subject to customary closing conditions.
M&M: The Competition Commission has approved Mahindra & Mahindra's acquisition of majority stake in a wholly-owned subsidiary of Ford Motor Co, which will create a joint venture in the country.
ITC: The company increased prices across various lengths of cigarettes by 10-12 percent, sources said.
GMR Infra: GMR Airports Limited, a subsidiary of GMR Infrastructure Limited, said that it won a bid to operate airport of Heraklion at Crete, Greece. This is the first Indian airport operator to win a bid to operate a European airport.
Indian Overseas Bank: The company’s loss widened to Rs 6,075.49 crore during the third quarter ended December 2019, owing to higher provisioning for bad loan.
Union Bank of India: Its standalone net profit for December quarter 2019 grew manifold to Rs 574.58 crore due to fall in provisioning for bad loans.
Chalet Hotels: Q3 profit jumped 126 percent to Rs 33.4 crore and revenue rose 12.4 percent to Rs 278.1 crore YoY.
Grasim Industries: The company reported a 9.39 percent decline in consolidated net profit at Rs 1,039.91 crore for the third quarter ended December.
Infoedge: Company has entered into an agreement to invest about Rs.37.10 Crores via a mix of primary and secondary purchase of shares in Sunrise Mentors Private Limited.
Camlin Fine: Camlin Fine Sciences Wanglong is awaiting to re-start the aforesaid manufacturing facility.