The Indian market is likely to open higher Friday following a rally in global markets. At 8:05 am, the SGX Nifty was trading 79.00 points or 0.70 percent higher at 11,378.00, indicating a positive start for the Sensex and Nifty50.
Here are the top 10 buzzing stocks for today:
1. SBI Life Insurance Company and Divi’s Laboratories will be included in Nifty with effect from September 25, 2020. Bharti Infratel and Zee Entertainment Enterprises will be excluded.
2. Wipro: The company has set up a blockchain-based gas trading platform for Uniper Global Commodities SE.
3. Indian Overseas Bank: The bank has reported Q1FY21 net profit at Rs 120.69 crore versus loss of Rs 342.08 crore, YoY. NII rose 9.6 percent to Rs 1,412.32 crore from Rs 1,288.46 crore, YoY.
4. GMM Pfaudler: The company has signed a definitive agreement to acquire a majority stake (54 percent) in the global business of the Pfaudler Group from Pfaudler UK.
5. J Kumar Infraprojects: The company reported a net loss of Rs 20.81 crore in Q1FY21 as against a profit of Rs 40.92 crore, YoY. Revenue declined 57.2 percent to Rs 285.25 crore from Rs 667.74 crore, YoY.
6. MOIL: The company’s Q1FY21 net profit was reported at Rs 1.88 crore as against Rs 90.7 crore while revenue was at Rs 152.3 crore versus Rs 280 crore, YoY.
7. Indian Bank: Crisil Ratings has revised the outlook on the bank’s four tier-2 bond issues worth a total Rs 1,600 crore to negative, while retaining the ratings of these debt instruments at AAA. It has also downgraded rating of Rs 500 crore worth additional tier 1 (AT1) bonds to AA from AA+ and revised the outlook to negative.
8. Jump Networks: The company shall be receiving firm, an unconditional offer from Jump Networks, Inc, USA for investment on or before September 5, 2020.
9. Premier Explosives: The company received an order from Israel Aerospace Industries, Israel (IAI) for development and supply of EDRM rocket motors for a total value of $520,000. The order is expected to be delivered within 9 months.
10. HealthCare Global Enterprises: The company’s net loss in Q1FY21 widened to Rs 45.61 crore from Rs 20.59 crore while revenue fell 28 percent to Rs 193.46 crore from Rs 268.88 crore, YoY.