The Indian market is likely to open higher Wednesday tracking gains in the global market following losses in global markets as hopes for a coronavirus vaccine rise. At 8:10 am, the SGX Nifty was trading 77.75 points or 0.73 percent higher at 10,685.80, indicating a positive start for the Sensex and Nifty50.
Here are the top 10 buzzing stocks for today:
1. Reliance Industries Ltd: The energy-to-technology major will hold its 43rd annual general meeting (AGM) today. (Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
2. Wipro: The company’s Q1FY21 IT services revenue fell 4.6 percent to Rs 14,595.6 crore from Rs 15,296 crore in the previous quarter. Revenue in dollar terms declined 7.3 percent $1,921.6 million from $2,073.7 million, QoQ. IT services EBIT dropped 6.1 percent to Rs 2,782.2 crore while EBIT margin expanded to 19.1 percent from 17.6 percent, QoQ. Wipro has also signed an agreement to acquire Brazil-based IVIA Servicos de Informatica.
3. State Bank of India: The shareholders approved raising of equity capital upto Rs 20,000 crore through various modes from the market.
4. Yes Bank: The company’s Rs 15,000 crore follow-on public offering will open for three days from today. The lender has raised Rs 4098.46 crores from anchor investors, ahead of its FPO. The bank has allotted 341.5 crore shares to anchor investors at Rs 12 per share, the lower end of the price band.
5. Bharti Airtel: The company has inked a strategic alliance with Verizon to bring secure, world-class video conferencing solutions to businesses in India.
6. Central Bank of India: The lender has cut lending rates by 10 bps across all tenors effective July 15. The revised one-year MCLR now stands at 7.20 percent from 7.30 percent.
7. Delta Corp: The company reported a consolidated net loss of Rs 28.2 crore in Q1FY20 as against a profit of Rs 42.5 crore while revenue fell 74.1 percent to Rs 48.3 crore from Rs 186.5 crore, YoY. Revenue from gaming operations were nil versus Rs 181.4 crore, YoY.
8. Emami Ltd: The company has completed the sale of 100 percent stake in Emami Cement to Nuvoco Corporation Ltd for an enterprise value of Rs 5,500 crore.
9. Bharat Electronics Ltd (BEL): The company has signed an MoU with the Airport Authority of India for co-operation in the field of civil aviation.
10. Oberoi Realty:
The company’s board approved raising upto Rs 2,000 crore via equity sale and raise upto Rs 1,500 crore via debentures. The company’s net profit in Q1FY21 fell 81.5 percent to Rs 28.1 crore while revenue declined 80.4 percent to Rs 118 crore.