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Stocks to Watch: Wipro, Infosys, Bharti Airtel, Tata Motors, Hero MotoCorp

Written by corres2

Here’s a list of top ten stocks that may be in news on Wednesday:

Wipro: The IT services major will announce its December quarter earnings today. Its dollar revenue is expected to grow around 3% sequentially in constant currency terms. The company had reported a 3.4% drop in its consolidated net profit for the quarter ended September at 2,466 crore.

Infosys: India’s second largest software services provider will report its earnings today. In the September quarter, its net profit rose 20.5% to 4,845 crore. The company had raised its annual revenue growth forecast on continued strength in its digital services business.

Bharti Airtel: The company has received approvals for its relevant downstream investments it and is initiating the process to revise its foreign investment limit, as notified to its depositories, to 100 per cent with immediate effect.

Tata Motors: The auto major reported a 1% rise in global wholesales, including Jaguar Land Rover, to 2,78,915 units in the third quarter of the current fiscal. The company had sold 2,76,127 units in the October-December period.

Tech Mahindra: The IT services major will acquire Payments Technology Services Ltd ), a step-down subsidiary of fintech firm FIS, for $9 million (about 66 crore). The acquisition will give Tech Mahindra access to IPs and licenses for two products – Open Payment Framework and Multi-Bank System.

Hero MotoCorp: The country’s largest two-wheeler maker said it has reinforced its presence in Central America by appointing new distributor partners in Nicaragua and Honduras, with aggressive expansion plans for both countries. It has appointed Grupo Casa Pellas, a leading automaker in Nicaragua as its partner.

Bharat Rasayan: The company’s board has approved its proposal to buy back up to 93,472 shares of 10 each, comprising 2.20% of the total paid up equity capital of the company at 11,500 per share for an aggregate amount not exceeding 107.49 crore.

State Bank of India: Mutual funds cut stake in the bank to 12.72% in the December quarter from 12.95% in the previous quarter. LIC also cut its shareholding to 9.74% from 10%.

BASF India: The Mumbai bench of National Company Law Tribunal has sanctioned the company’s scheme of merger by absorption of BASF Performance Polyamides India Pvt Ltd with the company. The scheme will come into effect from 1 February.

Tata Elxsi: The company’s net profit has increased 39.5% to 105.2 crore for the December quarter. Its revenue from operations rose 12.7% to 477.1 crore. The company said it saw all-round growth across industries and geographies.

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