The Indian market is likely to open higher Thursday following a positive trend in the global. At 8:00 am, the SGX Nifty was trading 39.80 points or 0.37 percent higher at 10,722.00, indicating a positive start for the Sensex and Nifty50.
Here are the top 10 buzzing stocks for today:
1. Tata Consultancy Services: The IT major will release its Q1FY21 earnings later today. TCS is expected to see a revenue decline of 3.5 percent in constant currency (CC) terms. Gains from a weak Indian rupee and operational rigour should help TCS contain margin decline to 34 bps versus Q4FY20 despite sharp fall in growth rate. The company’s commentary on the macro environment and new deals and cost control will be monitorable, according to Edelweiss Securities.
2. ICICI Bank: The bank will raise up to Rs 15,000 crore in core capital through a variety of routes such as private placement of shares or preferential issue or qualified institutions placement (QIP) or follow-on public offering (FPO), or a combination thereof.
3. Yes Bank: State Bank of India’s board has approved a maximum investment of up to Rs 1,760 crore in Yes Bank's upcoming further public offer (FPO).
4. GAIL India: LIC has increased its stake in the company by 2.014 percent to 7.019 percent via market purchases.
5. South Indian Bank: The bank reported Q1FY21 profit at Rs 81.65 crore as against Rs 73.26 crore and net interest income (NII) at Rs 586.89 crore versus Rs 535.66 crore, YoY.
6. Parsvnath Developers: The company has entered into an agreement with the Delhi Metro Rail Corporation (DMRC) along with subsidiary Parsvnath Realty Ventures (PRVL), an SPV, for a project at Akshardham Metro Station, New Delhi.
7. The Phoenix Mills: The company has opened a new mall, Phoenix Palassio, in Lucknow.
8. Radico Khaitan: CARE Ratings has reaffirmed its credit rating on the company's long-term bank facilities at AA- with stable outlook.
9. GE T&D India: ICRA has reaffirmed long-term and short-term credit ratings of the company and has downgraded the outlook from stable to negative for long-term ratings.
10. Sharika Enterprises:
The company has received an order worth Rs 26.55 crore from BHEL.