The Indian market is likely to open higher Tuesday following global peers as vaccine hopes fueled optimism. At 7:56 am, the SGX Nifty was trading 103.75 points or 0.94 percent higher at 11,114.00, indicating a positive start for the Sensex and Nifty50.
Here are the top 10 buzzing stocks for today:
1. Telecom stocks: The Supreme Court reserved its order in the adjusted gross revenue (AGR) case. This after Vodafone Idea and Bharti Airtel sought 15 years to repay their dues to the government while Tata Teleservices has said that a 7 to 10 year period should suffice for them. The court has directed AGR payments to be made on the Department of Telecom’s (DoT) preliminary assessed dues rather than the operator’s detailed self-assessments. The next hearing has been scheduled for August 10.
2. Wipro: The company has received orders from ComplianceQuest for quality management solutions.
3. ACC: The company’s net profit in April-June quarter declined 40.5 percent to Rs 270.9 crore from Rs 455.7 crore while revenue fell 37.3 percent to Rs 2,602.2 crore from Rs 4,149.8 crore, YoY.
4. InterGlobe Aviation: The company’s CEO Ronojoy Dutta said it will lay off 10 percent of its total workforce as it was facing an economic crisis caused by the COVID-19 pandemic.
5. Indian Oil Corporation: Rating agency Fitch has affirmed the company’s long-term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-‘. The Outlook is Negative. The agency has also affirmed IOC’s senior unsecured rating and the ratings on its outstanding senior unsecured debt at ‘BBB-‘
6. NHPC: The company has signed a pact with Odisha Green Energy Body to develop solar projects.
7. Jubilant Life Sciences: The company has received approval from the Drug Controller General of India (DCGI) to manufacture and market the antiviral drug remdesivir for restricted emergency use in India for the treatment of severe COVID-19. Jubilant’s remdesivir product will be marketed under the brand name ‘JUBI-R’ in India and will be made available in 100 mg vials (injectable).
8. Tata Power: The company’s subsidiary Coastal Gujarat Power Ltd (CGPL) has raised Rs 350 crore by issuing non-convertible debentures (NCDs) on a private placement basis.
9. Majesco: The company will sell its US subsidiary to Thoma Bravo for $420.7 million.
10. Omaxe: The company has entered into a steel supply deal with Jindal Steel & Power Ltd. JSPL will supply 7,000-8,000 metric tonne of structure steel to Omaxe.