Stocks to watch: TCS, Biocon, Bharat Rasayan, Vodafone Idea, Tata Power

By Administrator_India

Capital Sands

Nifty futures on Singapore Exchange traded 79 points higher at 14,289, around 8.30 am, on Friday, indicating a strong start for the benchmark indices back home.

TCS: The IT major is slated to announce its December quarter results today. TCS is likely to post a robust performance for Q3FY21 on the back of strong demand in cloud adoption, tailwinds of large digital deals, project ramp-up and lower furloughs, analysts said.

Biocon: Bioconannounced that its subsidiary Biocon Biologics has approved a primary equity investment by Abu Dhabi-based ADQ, one of the region’s largest holding companies. As per the terms of the proposed agreement, ADQ will invest Rs 555 Crore for a 1.80 per cent minority stake in the biosimilar business.

Vodafone Idea: According to media reports, Vodafone Idea has approached the Supreme Court to seek a modification on orders on the final AGR due amount, pointing out arithmetical errors in the government’s calculations.

Bharat Rasayan: The company will consider the proposal of buyback of equity shares on January 12.

HCL Technologies has partnered with Claim Genius, an artificial intelligence (AI) automation solutions provider for the auto insurance market, to jointly develop and market new AI claims management solutions.

AGC Networks: CRISIL assigned long-term credit rating for the company’s bank loan facilities at BBB- and the outlook is stable.

Union Bank of India: The state-owned lender has raised Rs 1,000 crore by issuing Basel III-compliant bonds on a private placement basis. The coupon rate on the bonds is 8.64 per cent per annum, payable annually.

NTPC: The power giant served notices to six states and two Union Territories for non-payment of dues, according to a PTI report. NTPC has also made it clear that it will be forced to shut-off or restrict power supply if they fail to clear their dues.

DHFL: Oaktree Capital has said its revised bid for the debt-ridden DHFL is unconditional and comes with a commitment of fresh capital infusion of Rs 1,000 crore for the revival of the company.

NALCO: Union minister Pralhad Joshi ,on Thursday, said state-run NALCO will invest around Rs 30,000 crore for its ambitious expansion and diversification projects in the next six to seven years.

Lupin: Thedrug maker said it has received approval from the US health regulator for its Empagliflozin and Metformin Hydrochloride extended-release (ER) tablets, used to treat diabetes, in the American market.

JSW Steel: The company posted a marginal growth of 2 per cent in crude steel output at 4.08 million tonnes during the October-December period of the ongoing fiscal.

Uttam Sugar Mills: The company reported a profit of Rs 11.70 crore in Q3 FY21 against Rs 13.32 crore in the year-ago. Revenue rose to Rs 433.26 crore YoY from Rs 426.68 crore.

Tata Power: The company has taken over power distribution in Western and Southern Odisha from January 1, 2021 onwards. The company has acquired 51 per cent equity stake each in TP Southern Odisha Distribution Limited and TP Western Odisha Distribution Limited for a consideration of Rs 127.50 crore and Rs 255 crore, respectively.

ONGC: The firm has approved the offer and issuance of up to 15,000 unsecured NCDs of face value of Rs 10 lakh shares at par aggregating to a total issue size of up to Rs 1,500 crore on a private placement basis at the interest rate of 4.50 per cent per annum.

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