Read more about RIL, Infosys, Airtel: MFs trim stake in index heavyweights in January on Business Standard. Reliance Industries, Infosys, Bharti Airtel, Power Grid and Tata Consultancy Services are some of the stocks mutual funds cashed out of last month
Here are the top stocks that are likely to hog the limelight today:
Magma Fincorp: Adar Poonawalla-controlled Rising Sun Holdings will acquire a 60 per cent stake in the non-banking financial company by subscribing to a Rs 3,456-crore preferential issue.
Q3 earnings: ITC, Coal India, Power Grid Corporation, ACC, Ashok Leyland, MRF and NCC are among 442 companies slated to post their December quarter numbers today.
Eicher Motors: Niche bike maker Royal Enfield may look at hiking prices from April in view of rising commodity prices, a top company official said on Wednesday.
BPCL: Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) will buyout Oman Oil Company s shares in the Bina refinery project for about Rs 2,400 crore.
Brokerages retained their bullish views on jewellery maker Titan Company post its December quarter results and revised their earnings estimates upwards in anticipation of a strong growth going ahead. The company, in which ace investor Rakesh Jhunjhunwala holds 5.32 per cent stake as of December quarter, on Wednesday posted an 11.81 per cent year-on-year (YoY) increase in consolidated net profit to Rs 530 crore for the third quarter ended in December 2020, led by income growth in the jewellery division. Shares of the firm were, however, trading over 3 per cent down at Rs 1,513.50 on the BSE at 12.20 am as investors were concerned about the pressure on margins and weak performance in the watches and eyewear segments.
Here are the top stocks to track in today s session:
Tata Steel: The firm reported a consolidated net profit of Rs 3,698 crore in the December quarter as against a loss of Rs 1,029 crore in the corresponding period last year on the back of increased revenue, which was aided by both higher steel prices and volumes.
InterGlobe Aviation: The parent company of the country s largest airline IndiGo has settled with Sebi a case of alleged corporate governance lapses and listing norms violations that were raised by the company s co-promoter Rakesh Gangwal. Meanwhile, the company appointed Jiten Chopra as its chief financial officer (CFO), effective February 21, 2021.
Read more about Max Financial surges 7%, scales record high post strong Q3 results on Business Standard. Max Life Insurance demonstrated a resilient performance amid a challenging macro environment with 21 per cent annual premium equivalent (APE) growth