The Indian market is likely to open lower Wednesday following losses in Asian markets as investors continue to monitor coronavirus developments. At 8:45 am, the SGX Nifty was trading 102.50 points or 0.90 percent lower at 11,238.00, indicating a negative start for the Sensex and Nifty50.
Here are the top 10 buzzing stocks for today:
1. HDFC Ltd: The company has raised Rs 10,000 crore equity capital by issuing shares to qualified investors, including the Government of Singapore and Invesco Oppenheimer Developing Markets Fund. Besides, it has raised Rs 3,693 crore through an issue of non-convertible debentures.
2. Eicher Motors: The company’s shareholders have approved share split of existing one equity share of face value Rs 10 each into ten equity shares of Re 1 each. The expected time of share split is 2-3 months. The issued, subscribed and paid up share capital of the company will increase to 27.3 crore equity shares from 2.73 crore shares.
3. Wipro: The company has completed the acquisition of salesforce partner 4C.
4. Adani Ports & SEZ: The company’s Q1FY21 net profit fell 26.2 percent to Rs 757.8 crore from Rs 1,028.7 crore while revenue declined 19 percent to Rs 2,292.7 crore from Rs 2,794.5 crore, YoY. EBITDA fell 24.5 percent to Rs 1,394.2 crore from Rs 1,846.4 crore and EBITDA margin decreased by 530 bps to 60.8 percent from 66.1 percent, YoY.
5. ONGC: The company has allotted NCDs worth Rs 1,000 crore.
6. Hexaware Technologies: The company has entered in pact with Freshworks to offer digital solutions for its customers.
7. Petronet LNG: Owing to COVID 19 Pandemic and consequent reduced RLNG demand during the lockdown period, the company was constrained to invoke Force Majeure for nine long term cargos with its suppliers and discussion on the same are ongoing. During the said period, the company also received requests under regasification contracts for deferment of third party cargos to subsequent months.
8. JMC Projects (India): The company has received new orders of Rs 1,363 crore which includes building projects in South India totaling Rs 1,169 crore and water supply project in Bihar of Rs 194 crore.
9. Muthoot Finance: The company’s board has sought shareholders’ nod to increase borrowing limit to Rs 75,000 crore from Rs 50,000 crore on August 19.
10. Metropolis Healthcare:
The company’s Q1FY21 profit declined 89.2 percent to Rs 2.87 crore from Rs 26.9 crore while revenue fell 29.6 percent to Rs 143.1 crore from Rs 203.3 crore, YoY.