Amidst positive cues from the global markets, the Indian stock market is likely to open higher. In the Asian market, the SGX Nifty was trading 0.45% higher at 7:47 am, indicating a green start for Nifty50.
The US stocks also ended higher on Wednesday on renewed hope of economic stimulus after
President Donald Trump signalled that he is open to piecemeal stimulus, rather than a single trillion-dollar-plus package.
The Dow Jones Industrial Average gained over 530.70 points, whereas the S&P 500 was up over 1.70%.
These are the stocks to watch out for during the trading session on October 8:
TCS India’s largest software services firm, Tata Consultancy Services (TCS), announced a ₹16,000 crore
buyback plan at ₹3,000 per equity share. The company also reported a stellar performance in Q2, with 7% QoQ growth in its consolidated net profit to ₹7,475 crore for the quarter ended September 30.
The shares of TCS ended 1.42% higher yesterday.
Wipro
Following the similar lead, TCS’ competitor
Wipro has also announced that its board will consider a buyback plan on October 13.
The shares of Wipro ended 1.80% higher yesterday.
Future Retail and RIL
The e-commerce giant Amazon has sent a legal notice to Kishore Biyani led Future Group for striking a deal with Reliance Industries (RIL).
Amazon has
accused the latter of breaching its non-compete agreement between the parties. The shares of RIL ended 2.22% higher whereas Future Retail was down 1.83% yesterday.
Infosys The tech giant Infosys US-based subsidiary Infosys Public Services developed the Infosys Health Insights Platform (IHIP) in collaboration with Amazon Web Services (AWS), Couchbase, and Knowi. The new platform is part of Infosys Cobalt’s growing portfolio of 14,000 cloud assets Infosys Health Insights Platform is an automated data science platform for public health agencies— that will help agencies scale their analytics capabilities and turn massive amounts of data into valuable insights.
The shares of Infosys ended 1.36% higher yesterday.
Jet Airways
A London-based asset management company, Kalrock Capital, said it had been chosen as the new owners of the
bankrupt airline Jet Airways, along with a UAE investor Murari Lal Jalan.
The shares of Jet Airways ended 1.04% lower yesterday.
Asian GranitoThe board of the ceramic wall and floor tile manufacturing company, Asian Granito India will meet on October 23 to consider an increase in authorised share capital, sub-division of shares, and fundraising plans.
The shares of Asian Granito ended 0.44% higher yesterday.
RBL Bank In its second quarterly update to the stock-exchanges, the private sector bank RBL said its deposits for the quarter grew 3% YoY and 5% QoQ. However, the gross advances decline 1% compared to the same period last year.
The shares of RBL Bank ended 2.07% lower yesterday.
SEE ALSO: TCS announces ₹16,000 crore buyback — strong show in Q2 with 7% rise in profit, margins near two-year high
Following TCS’ lead, Wipro announces plans to buyback shares
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