Top stocks to watch — Mahindra Finance, Tata Motors, Airtel, DHFL, SBI, Coforge, and others

Top stocks to watch — Mahindra Finance, Tata Motors, Airtel, DHFL, SBI, Coforge, and others
Amidst mixed cues from the global markets, the Indian equities are likely to open flat on Tuesday. The SGX Nifty was trading 0.55% higher at 7:47 am, indicating a positive opening for Nifty50.

However, the US stock markets suffered their sharpest drop in weeks as concerns about the economic impact of surging coronavirus cases sent shares tumbling. The Dow Jones Industrial Average closed 2.3% lower. And, the S&P 500 fell 1.8% on Monday.

These are the stocks to watch out for during the trading session on October 27:

M&M Finance

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Mahindra and Mahindra Financial Services (M&M Finance) reported a 34% jump in consolidated net profit at ₹353 crore for the second quarter ended September 30. The company said in the quarter under review their total income increased 5% to ₹3,071 crore.

The shares of M&M Finance ended 3% lower on Monday.

DHFL

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The lenders of debt-ridden DHFL have asked the four bidders to get back with a revised offer by 31 October as part of the on-going resolution process. The four bidders include Adani Group, Piramal Enterprises, US-based Oaktree and Hong Kong-based SC Lowy.

The shares of DHFL ended 5% lower on Monday.

SBI

The State Bank of India (SBI) has raised ₹5,000 crore by issuing Basel-III compliant bonds. The shares of SBI ended 3% lower on Monday.
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Cadila Healthcare

According to a Bloomberg report, the Indian drugmaker Cadila Healthcare is in talks with potential partners to ramp up its indigenous COVID-19 vaccine development and production capacity.

The shares of Cadila Healthcare ended 2% lower on Monday.

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Bharti Airtel and Tata Motors

The stocks of Bharti Airtel and Tata Motors will remain in focus as the companies are slated to announce their quarterly financial results today.

The shares of Bharti Airtel and Tata Motors ended 0.14% and 2.45% lower on Monday.

Coforge

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The promoter and a part of private equity investor Baring Private Equity Asia (BPEA), Hulst BV sold 38 lakh shares or 6.27% of Coforge for ₹878 crore through block deals. As per the stock exchange data, Hulst B V held a 70.28% stake in the Coforge.

The shares of Coforge ended 7% lower on Monday.

Indian Railway Catering and Tourism Corporation (IRCTC)

The government has appointed merchant bankers for a period of three years for disinvestment of stake in Indian Railway Catering and Tourism Corporation (IRCTC) through an offer for sale (OFS).
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The shares of IRCTC ended 0.37% lower on Monday.

Adani Ports

The Adani Ports promoter SB Adani family trust created a pledge of 1.74 crore shares on October 23.

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The shares of Adani Ports ended 1% lower on Monday.

Angel Broking

The recently listed broker, Angel Broking posted the highest ever quarterly profit-after-tax at ₹74 crore for the quarter ended September 30. The company in its regulatory filing said its total income grew 29% to ₹317 crore for the quarter under review.

The shares of Angel Broking ended 3.3% lower on Monday.
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Great Eastern Shipping

India's largest private sector shipping company, Great Eastern Shipping board has approved raising capital aggregating up to ₹150 crore by way of private placement.

The shares of Great Eastern Shipping ended 2% higher on Monday.
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IDBI Bank

The board of IDBI Bank is slated to meet on October 29 to consider raising funds via qualified institutional placement.

The shares of IDBI Bank ended 3% lower on Monday.

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Aurobindo Pharma

A Swiss multinational pharmaceutical company, Novartis has filed a complaint in the Federal Court in Delaware US, against Aurobindo Pharma. The company said that Aurobindo's proposed generic version of a treatment for dry eye infringes 15 patents for Xiidra, which Novartis acquired in 2019 for $3.4 billion.

The shares of Aurobindo Pharma ended flat on Monday.

NTPC

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The board of state-owned NTPC or National Thermal Power Corporation will consider share buyback on November 2.

The shares of NTPC ended 0.52% lower on Monday.

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