Top stocks to watch in trade — SBI, PNB, TCS, JMC Projects, Bank of Maharashtra, FDC and more
- At 7:59 am, the SGX Nifty was up 0.34% at 11,515.20 points pointing towards a cautious start for Nifty50.
- Here’s a list of stocks to watch for in trade today.
- Check out the latest news and updates on Business Insider.
AdvertisementIndian stock-market indices are likely to open on a tepid note on Wednesday, on the back of muted global cues. At 7:59 am, the SGX Nifty was up 0.34% at 11,515.20 points pointing towards a cautious start for Nifty50.
US markets ended on a flat note, with Apple capping the gains. However S&P 500 and Nasdaq did scale record levels in trade yesterday. This morning, Asian markets are trading subdued as well.
These are the stocks to watch out for during the trading session today:
Ratings agency, Moody’s has downgraded State Bank of India’s standalone profile on asset quality and profitability concerns. The standalone profile has been downgraded to ba2 from ba1.
The shares of SBI ended higher by 3.38% on Tuesday.
Punjab National Bank
Watch out for PNB in trade today as the bank has received over ₹24 crore as the first tranche of recoveries from bankruptcy proceedings of Nirav Modi’s companies in the US.
The shares of PNB ended down 0.28% on Tuesday.
Tata Consultancy Services
TCS will be in focus in trade today. Rating agency, S&P Global has revised the outlook on this I-T major from positive to stable on the back of weakening business sentiment. S&P says that TCS may face slower growth in revenue and profitability over next 12-18 months because of the subdued global IT spends.
The shares of TCS ended down 0.27% on Tuesday.
The company has bagged new orders worth ₹554 crore. This includes an order amounting to ₹315 crore for a building project in South India, and a ₹239 crore order for a factory project in Maharashtra.
The shares of JMC Projects ended lower over 1% on Tuesday.
Bank of Maharashtra
This state-owned bank has raised ₹831 crore via preferential issue of shares to the government. The lender has issued ₹73.6 crore shares at ₹11.29/share. WIth this allotment, government’s holding in the bank has risen to 93.33%
The shares of Bank of Maharashtra ended higher by 4.61% on Tuesday.
Watch out for this drug firm, FDC. It has launched two variants of the COVID-19 drug Favipiravir under the brand names PiFLU and Favenza.
The shares of FDC ended lower by 1.56% on Tuesday.
Some other stocks that will be in focus include Indraprastha Gas, Minda Finance, Cupid and Gillette India as these companies declare their quarterly earnings later today.
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