There are some stocks that are expected to be much more active today due to a few external factors and announcement by the companies. Here is the list of some companies whose stocks should be closely followed today.
Infosys: Global software major Infosys on Wednesday said it would buy back shares amounting to Rs 9,200 crore ($1.23 billion) from the open market route. In addition, the company reported s 5,076-crore consolidated net profit for the fourth quarter (January-March) of the fiscal under review, registering 17.5 per cent annual growth from Rs 4,321 crore in the same period a year ago.
Wipro: The quarterly financial results of this IT major will be announced today. So, it would be interesting to see how the stocks act as other IT majors like TCS and Infosys reported good quarterly results.
Bharti Airtel: The company announced a new corporate structure to sharpen focus on digital. Bharti Airtel said the exercise would bring focus on four distinct verticals - Digital, India, International and Infrastructure. The new structure involves Airtel Digital Limited folding into the listed entity Bharti Airtel. Moreover, all the telecom business will be housed in a newly created entity -- Airtel Limited, a wholly-owned subsidiary of Bharti Airtel Limited. Bharti Airtel will now house all of the digital assets spanning Wynk Music, Airtel Xstream, Airtel Thanks, Mitra Payments platform used by a million retailers, Airtel Ads, Airtel IQ, Airtel Secure, Airtel Cloud and all future digital products and services
HDFC Bank: The private lender on Wednesday said it is planning to raise up Rs 50,000 crore during the next 12 months through issuing bonds.The bank's board of directors will take up the proposal at its meeting on April 17, it said in a regulatory filing.
Religare Enterprises: On Wednesday, the company informed the exchange that its arm Religare Finvest Limited will default on Rs 100 crore NCD payment obligation later this month to subscriber Axis Bank. This was due to financial distress caused by misappropriation of funds by former promoters and officials.
Axis Bank: The stock of Axis Bank may see the impact due to the announcement of Religare Finvest Limited defaulting on the NCD.
GE Power India: The company's board on Wednesday approved the acquisition of 50 per cent stake in NTPC GE Power Services Pvt Ltd for Rs 7.2 crore. "Board of directors of GE Power India Ltd in its meeting held today i.e., 14 April, 2021 has approved the acquisition of 50 per cent of the issued and paid-up share capital of NTPC GE Power Services Pvt Ltd (NGSL)," a BSE filing said.
Tata Metaliks: Tata Metaliks Ltd on Wednesday posted Rs 74.99 crore net profit for the quarter ended March 31, 2021, a fall of 2.66 per cent. The company''s profit for the corresponding period in 2019-20 was at Rs 77.04 crore, Tata Metaliks Ltd said in a BSE filing. During the period under review, its total income was at Rs 663.64 crore, up from Rs 524.25 crore in the year-ago quarter.
(Input from agencies)
