New Delhi: Here is a list of top 10 stocks that may be in focus on Thursday:
SBI: Chairman Rajnish Kumar on Wednesday pitched analysts for a higher valuation of the bank’s enterprise value, asking them to take into account the growth prospects of its subsidiaries and better-than-expected performance in the fiscal ending March 2021 due to improvement in asset quality and higher growth.
RIL: Reliance Jio on Wednesday said the Cellular Operators Association of India’s plea to the government seeking relief for the sector after an unfavourable Supreme Court verdict on the definition of adjusted gross revenue is “unwarranted” and does not “represent the industry view by any stretch of imagination”.
IndiGo: Budget carrier IndiGo, owned and operated by InterGlobe Aviation Ltd, has joined the International Air Transport Association as a member on Wednesday. The move will help the airline develop strong partnerships in international markets and help it align with global practices. Air India and SpiceJet are already members of the global trade association.
Bharti Airtel: The telecom operator has no plan to shut down its 2G network, which continues too generate “substantial revenue”. Chief Executive Gopal Vittal said older devices do not have VoLTE or Voice Over Long-Term Evolution integration, which is a standard for high-speed wireless communication for mobile phones.
Vodafone Idea: Shares may be in focus due to talks of the company shutting down its India operations. According to an IANS report, the telecom regulatory world is abuzz with talks of Vodafone Idea exiting India. Meanwhile, traders fear that the company may end up in bankruptcy as the penalty levied in the adjusted gross revenue case is higher than the cash on its books.
United Bank: Shares gained 20% on Wednesday after the bank reported a profit of ₹124 crore during July-September due to lower provisions and healthy growth in net interest income compared with a loss of ₹883.2 crore in the same period last year. Asset quality also improved sequentially. Net interest income grew by 74.6% on year to ₹773 crore in the quarter ended September.
TVS Motor: The auto company has collaborated with Cadisa Group, which has a large business presence across South-American nations Guatemala and El Salvador. Cadisa will facilitate the opening of 15 flagship outlets for TVS Motor Company Ltd in a phase-wise manner. TVS Motor will offer a range of two-and-three wheelers with attractive retail finance schemes.
IOC: The state-owned oil retailer will announce its earnings for the September quarter today. Talks of the government planning to bring down its stake below 51% in the company along with a host of other central public-sector undertakings have buoyed investor sentiment. Stake sale in state-run entities will enable the government compensate for the revenue shortfall.
Syndicate Bank: The public-sector bank will report its earnings for the quarter ended September today. Shares of the bank had on Wednesday ended nearly 12% higher ahead of the earnings. Separately, non-bank Spandana Sphoorty Financial Ltd that made its stock market debut in August will also release its earnings today.
ICICI Lombard: The general insurance company will acquire propriety software from Unbox Technologies along with ancillary movable assets for housing the software and employees for operation, maintenance and development of the software. The transaction took place for an aggregate cash consideration of ₹225 crore. The deal is expected to be completed in the third quarter of the current fiscal.
