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  4. Top stocks to watch—SBI, HDFC Bank, Tata Motors, RIL, Infibeam, Britannia, Future Consumer and others

Top stocks to watch—SBI, HDFC Bank, Tata Motors, RIL, Infibeam, Britannia, Future Consumer and others

Top stocks to watch—SBI, HDFC Bank, Tata Motors, RIL, Infibeam, Britannia, Future Consumer and others
Amidst positive cues from the global markets, the Indian equities are likely to open on a higher note. In the Asain market, the SGX Nifty was trading 0.36% higher at 7:49 am, indicating a green start for Nifty50.

The US stocks ended the Tuesday lower as investors cheered the news of President Donald Trump leaving the hospital where he is being treated for COVID-19. The Dow Jones Industrial Average rallied 465.83 points, whereas the S&P 500 gained over 1.80% on Monday.

These are the stocks to watch out for during the trading session on October 6:

SBI

The headhunter for state-owned banks and financial institutions, the Banks Board Bureau (BBB) recommended the names of Swaminathan Janakiraman and Ashwini Kumar Tewari for the posts of managing director at State Bank of India. The country’s largest lender bank is headed by a chairman with four managing directors to assist.

Also, the current SBI chairman’s tenure ends on October 7. Watch out for announcements on the change of guard at the helm of SBI as well.

The shares of SBI ended 0.45% lower on Monday.

HDFC and HDFC Bank

The Housing finance major HDFC, in its second-quarter update ending September 30, said that its individual loan disbursements reached 95% of the level in the year-ago period, and September saw the strongest recovery since the outbreak of the COVID-19 pandemic, suggesting business is returning to pre-crisis levels. The individual loan business has continued to see a month-on-month improvement in July-September 2020, the company said in its regulatory filing.

The HDFC Bank advances as of September 30 rose 16% YoY to ₹10.4 lakh crore, and the deposits increased 20% to ₹12.3 lakh crore.

The shares of HDFC Ltd ended 0.46% lower yesterday, whereas HDFC Bank ended 0.50% higher.

Tata Motors

Tata Motors-owned subsidiary Jaguar Land Rover (JLR) reported a 12% dip in sales in the second quarter ended September 30. However, the sales improved by nearly 50% during the July-September quarter as against 74,067 units in the April-June period of the current fiscal, the company said in a statement.

The shares of Tata Motors ended 0.52% higher yesterday.

Britannia Industries

Bakery and dairy products major Britannia Industries said its board has approved issuing bonus debentures and payment of dividend to reward its shareholders in such difficult and unprecedented times due to the coronavirus pandemic. The board approved 1 bonus debenture for 1 share held, and payment of ₹12.5/share as dividend.

The shares of Britannia Industries ended 0.56% higher yesterday.

Deepak Fertilisers and Petrochemicals

The wholly-owned arm of Deepak Fertilisers and Petrochemicals, Smartchem Tech, raised ₹105 crore via debentures from international finance corporation. A debenture is a loan that is issued to corporates based on their reputation at a fixed rate of interest.

The shares of Deepak Fertilisers and Petrochemicals ended 2.3% lower yesterday.

Future Consumer

Future Capital Investment, the promoter of Future Consumer, invoked pledge of 18 lakh shares from September 14-16.

The shares of Future Consumer ended 4% lower on Monday.

Infibeam Avenues and RIL

The digital payments, e-commerce software company Infibeam Avenues has entered into a definitive agreement with Jio Platforms and its affiliates.

The shares of Infibeam Avenues were locked in 5% upper circuit on Monday.

Escorts

The automaker Escorts has completed the acquisition of 2 crore equity shares of KAI from KBT, constituting 40% of the share capital of KAI for an aggregate value of ₹90 crore.

The shares of Escorts ended 3.32% higher on Monday.

Majesco

The board of Majesco will consider a proposal for buyback of fully paid-up equity shares on October 8.

The shares of Majesco ended 0.15% lower on Monday.

SEE ALSO: TCS' value crosses ₹10 trillion after share price rallies more than 7% ahead of earnings

Trump tweets that he's leaving the hospital and says 'don't be afraid of Covid,' a virus that's killed over 209,000 Americans

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