TCS’ market share, ONGC’s borrowing, Tata Power gets new territories— these and other top stocks to watch
- At 8:45 am, the SGX Nifty was up 0.57%, indicating a higher 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 indices are likely to start in the green on Friday, led by mixed cues from the global markets.
At 8:45 am, the SGX Nifty was up 0.57%, indicating a higher start for Nifty50. In the US, Wall Street overcame the disappointment from the riots in Capitol Hill and celebrated the Democrats taking control of the US Congress after the victory in the Senate runoff elections in Georgia. The Dow Jones Industrial Average closed 211 points higher, and the S&P 500 was up 1.48%. Nasdaq hit an all-time high.
While Asian markets reflect the optimism in the US, the American dollar has weakened further and crude oil has seen the best close in a year. All these factors will contribute to the movement in stocks, aside from stock-specific news triggers.
These are the stocks to watch out for during the trading session today:
The Tata Group company, Tata Consultancy Services (TCS) is slated to report its third-quarterly earnings today. The street is expecting a strong growth in revenue compared to three months ago. More importantly, the country’s biggest software exporter is expected to gain more market share from key competitors like Capgemini and Cognizant.
ONGC told the stock exchanges that it plans to borrow ₹1,500 crore from private investors, offering an interest of 4.5% per year, via non-convertible debentures (NCD) with a face value of ₹10 lakh. These will be unsecured, listed i.e. tradeable, redeemable, non-cumulative, and taxable.
NHPC informed investors that the National Company Law Tribunal (NCLT) has approved its ₹165 crore resolution plan for taking over Jalpower Corp. JPCL is undergoing a corporate insolvency resolution process that was initiated on April 9, 2019, via NCLT.
AdvertisementTata Power announced that it has taken over the management and operations of Odisha’s power distribution utilities WESCO and SOUTHCO upon completion of the sale process. With this, WESCO and SOUTHCO will operate under the company name as TP Western Odisha Distribution Ltd (TPWODL) and TP Southern Odisha Distribution Ltd (TPSODL) respectively.
Punjab National Bank
The state-owned Punjab National Bank has partnered with IIT Kanpur and the Foundation for Innovation & Research in Science & Technology (FIRST) for establishing an innovation centre at the institute's campus. Under this partnership, PNB and IIT Kanpur will set up a 'Fintech Innovation Centre (FIC)' as a vehicle to research and develop technological solutions to address challenges and explore opportunities in the BFSI space, the bank said in a statement.
The board of Bharat Rasayan will meet on January 12 to consider the proposal of buyback of equity shares.
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