Stocks in news: TCS and Indiabulls Ventures
NEW DELHI: Domestic equity markets are likely to open on a positive note on Thursday, tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and global cues.
At 8.15 am, Nifty futures trading on SGX were up 26.50 points, or 0.26 per cent, at 10,024, indicating a positive start for NSE Nifty index. Here is a list of top stocks that are likely to be in focus in today’s trading session.
TCS: The IT major may report its Q2 earnings today. Brokerage EdelweissBSE 0.53 % Securities expects the IT major to post revenue growth of 1.6 per cent in dollar terms and 0.7 per cent sequentially in constant currency terms. Margins may expand by 140 bps QoQ.
Indiabulls Ventures: IVL Finance, a subsidiary of Indiabulls Ventures, is getting into consumer finance with a big push on personal loans by tapping the existing customers of banks. It would fund those who are not on the list for pre-approved loans at lenders like HDFC BankBSE 1.77 % and State Bank of IndiaBSE 1.19 %, and take the risk on its books.
IndusInd Bank: The lender wiill report quarterly earnings today. Brokerage Motilal Oswal Securities expects non-interest income for the lender to grow 25 per cent, supported by healthy fee income growth of 22 per cent. Stronger contribution of third-party distribution fees owing to increased inflows into MFs and insurance industry should support higher third-party distribution fees.
Larsen & Toubro: Larsen & Toubro (L&T) said it has entered into a definitive agreement with ESAB Holdings Ltd for selling its entire stake in wholly-owned arm EWAS Alloys Ltd for Rs 522 crore.
Sun Pharma: Sun Pharmaceutical Industries today said it has received establishment inspection report (EIR) from the US health regulator for its Dadra facility.
DenaBSE 1.16 % Bank: Public sector Dena BankBSE 1.16 % has raised Rs 400 crore by selling shares to a clutch of institutional investors in an attempt to shore up capital as the Mumbai-based lender is battling rising non-performing assets (NPAs).
Lakshmi Vilas Bank: The lender’s net profit fell 83 per cent to Rs 11 crore in the quarter ended September 2017 from Rs 65 crore a year ago largely on an income tax write back even as provisions on non-performing assets (NPAs) rose.
Banks: Lenders are planning to seek regulatory exemption from taking the second lot of defaulters to bankruptcy courts as such proceedings tend to erode value of assets, said three bankers familiar with the discussions.
Lupin: The drugmaker said it has acquired Symbiomix Therapeutics, a US-based company specialising in drugs for gynaecologic infections, for cash considerations of $150 million. The acquisition, made through the firm’s US subsidiary LupinBSE 0.34 %Pharmaceuticals, involves upfront payment of $50 million, other time-based payments, and sales-based contingent payments.[“Source-economictimes”]