The Indian market is likely to open higher Wednesday in line with gains in Asia Pacific stocks as major indexes on Wall Street notched new records yet again overnight. At 7:45 am, the SGX Nifty was trading 28.45 points or 0.25 percent higher at 11,504.50, indicating a positive start for the Sensex and Nifty50.
Here are the top 10 buzzing stocks for today:
1. State Bank of India: Moody’s Investors Service has downgraded State Bank of India’s standalone profile to ba2 from ba1 saying it sees the bank’s asset quality and profitability deteriorating.
2. Tata Consultancy Services: S&P has revised outlook on TCS to Stable on weakening business sentiment and affirmed ‘A’ rating. S&P expects TCS to face slower revenue growth and profitability over 12-18 months.
3. Punjab National Bank: The bank has received Rs 24.33 crore as the first tranche of recoveries in the Nirav Modi case.
4. FDC Ltd: The company has launched two variants of Favipiravir Drug (PiFLU and Favenza) meant to treat mild to moderate cases of COVID-19.
5. JMC Projects (India): The company has secured new orders worth Rs 554 crore. The orders include a building project in south India totaling Rs 315 crore and a factory project in Maharashtra of Rs 239 crore.
6. Bank of Maharashtra: The bank has raises Rs 831 crore via preference issue of shares. The lender issued 73.6 crore shares to the government at Rs 11.29 per share.
7. Can Fin Homes: The company’s net profit in Q1FY21 rose to Rs 93.16 crore from Rs 80.98 crore and total income increased to Rs 522.5 crore from Rs 484.14 crore, YoY.
8. VA Tech Wabag: The company has raised Rs 120 crore from the marquee and high networth investors including Rekha Rakesh Jhunjhunwala, the wife of ace investor Rakesh Jhunjhunwala. She has invested Rs 80 crore for 50 lakh shares of the company on a preferential basis.
9. IRCON International: The company’s Q1FY21 net profit fell to Rs 34.46 crore from Rs 144.66 crore while revenue declined to Rs 526.87 crore from Rs 1,069.85 crore, YoY.
10. Adhunik Industries: The company’s net profit in Q1FY21 net profit fell to Rs 34 lakh from Rs 2.6 crore while revenue from operations declined to Rs 72.56 crore from Rs 158.95 crore, YoY.