Here is a list of the top ten stocks that may appear in the news on Thursday:
Dependency industries: The company will invest up to $ 50 million in Breakthrough Energy Ventures IILP. The investment will be made in tranches over 8 to 10 years, with $ 50 million constituting 5.75% of the size of the fund currently contemplated. Breakthrough Energy is backed by Jeff Bezos, Jack Ma and Bill Gates, among others.
Wipro: IT company It is incorporating a new operating model starting next year whereby its business will be restructured into four strategic market units and the delivery model will be simplified as the IT giant seeks to drive growth in non-US markets. In an email to employees, Wipro CEO Thierry Delaporte said the company’s growth has largely depended on the US market, noting that it is important that the company broadly base its growth.
Tata Consulting Services: The IT major has agreed to acquire Pramerica Technology Services from insurance giant Prudential Financial Inc., according to a person familiar with the matter, helping the insurer cut costs to counter low interest rates and the consequences of the coronavirus.
Grasim Industries: The company has sold its entire stake in its fertilizer business, Indo Gulf Fertilizers (IGF), to Singapore-based Indorama Corporation Pte Ltd, in a recessionary sale, the company said in a press release. Grasim will receive a cash consideration of ₹2,649 million rupees.
HDFC Ltd: The mortgage lender said Thursday that insurance regulator Irdai gave the final go-ahead for the merger of HDFC ERGO Health Insurance with HDFC ERGO General Insurance. Upon completion of the merger, HDFC will hold a 50.58% stake in HDFC ERGO.
Future retail: The Kishore Biyani company has filed a lawsuit against Amazon in the Delhi high court to prevent it from interfering in the RIL-Future deal, while the American retail giant has urged immediate intervention by regulators Sebi and the Competition Commission of India in an attempt to stop the deal.
Tata Steel: The company is expected to report a sequential improvement in its second-quarter earnings today. There is a certain decrease in terms of income due to moderate prices. The steelmaker had reported a 63% year-on-year drop in net profit for ₹702 crore.
Eicher Motors: The company reported a 40% decrease in its consolidated net profit to ₹343 crore in the September quarter. The company’s operating income for the quarter stood at ₹2,134 crore, down 2.65% year-on-year due to lower sales of Royal Enfield motorcycles and commercial vehicles.
Indiabulls Homes for Sale: Rakesh Jhunjhunwala’s Rare Enterprises has acquired shares in the company worth almost ₹29 million rupees through an open market transaction. Rare Enterprises purchased 50 lakh scrips from the company at an average price of ₹57.73 each. This brought the total value of the deal to ₹28.86 crore.
Infibeam Avenues: The company will invest up to ₹180 million to purchase a 33.33% stake in So Hum Bharat Digital Payments. So Hum Bharat Digital Payments, founded by industry executive Navin Surya and backed by Infibeam Avenues, will apply for a license to establish a new umbrella entity for retail payments.
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