Here is a list of the top ten stocks that may appear in the news on Wednesday:
Wipro: The company expects its IT services revenue to grow up to 3.5% sequentially in the December quarter. The board of directors approved the repurchase of up to 4.16% of the company’s shares outstanding in ₹400 each for a total of ₹9,500 crore. TI’s main company posted 3.2% sequential growth in net income in the September quarter.
Infosys: The IT company, which will announce its September quarter earnings on Wednesday, is likely to report double-digit earnings growth due to strong deals struck.
Banks and finance: The Supreme Court has included the interest exemption case for hearing on Wednesday. In an affidavit filed in SC, the RBI warned of risks to the banking sector if the suspension on bad debt classification is not lifted immediately. The court was scheduled to hear the case on Tuesday.
Future group companies: The group has hired lead defender Harish Salve for its possible legal battle with Amazon, which has challenged the Kishore Biyani group over its agreement to sell retail assets to Retail Industries without the approval of the US firm, The Economic Times reported.
Vedanta: After a plan to delist its Indian unit failed, Anil Agarwal’s commodity group will pay $ 1.4 billion raised through bonds and another $ 1.1 billion in loans, with a small amount of interest, to banks and bondholders starting this week, Bloomberg reported. The company also said it is committed to investing in the country that offers unparalleled growth and opportunities.
NTPC: The company has decided to raise 4 billion rupees on October 15 by privately placing unsecured non-convertible bonds in the form of debentures at a coupon of 5.45% per annum with a door-to-door maturity of five years.
Pharmaceutical companies: The government’s move to reduce India’s dependence on China for crucial raw materials used in medicines has led to the creation of local monopolies in a growing number of product categories. This, experts said, can lead to supply restrictions and price increases if left unchecked.
Maruti Suzuki: The company plans to introduce a host of new sports utility vehicle (SUV) models in the coming years as it seeks to span the segment with multiple product offerings at different price points, people familiar with the company’s plans said.
Coal India: The state company said that the total allocation of coal in its four electronic auction windows saw a year-on-year increase of about 65% during the first half of the current financial year. The increase in volume terms was 16.3 MT, he added.
GMM Pfaudler: Sebi has launched an investigation into alleged insider trading on the company’s shares prior to the OFS by the Indian developer group, The Economic Times reported.
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