Stocks to Watch: TCS, Bajaj Hind, JSW Steel, Yes Bank, Dish Tv, Airlines

The key benchmark indices may look to consolidate at the start of the week, before the action heats up with Q3 earnings from the IT sector. As of 08:00 AM, the SGX Nifty January futures were quoted at 17,928 as against the spot Nifty close of 17,813 on Friday. Meanwhile, here are the stocks in focus for trade today.

Earnings Watch: 5 Paisa, Ganga Papers, GI Engineering , GNA Axles, Thambhi Modern Spinning and Vikas Lifecare are scheduled to announce December quarter results today.

Reliance (RIL): The Mukesh-Ambani led firm has spent $5.7 billion on acquisitions and investments across various sectors over the past four years, the latest being its acquisition last week of a majority stake in the luxury hotel Mandarin Oriental in New York for $98.2 million and a 25.8 per cent stake in Dunzo, a hyperlocal delivery platform, for $200 million. READ MORE

TCS: India’s largest IT firm’s board plans to consider a share buyback proposal on January 12 when it meets to announce the Q3 results.

Meanwhile, Tata Consultancy Services (TCS) has also been selected to implement the second phase of the Passport Seva Program, the country’s largest mission critical e-governance programme till date. TCS will be managing the project for another nine-and-a-half years, which can be extended for two more years. READ MORE

Yes Bank, Dish TV: YES Bank, the largest shareholder in Dish TV India with a 25.6 per cent stake acquired by way of loan recovery, is planning to sell its holding to Tata Sky and Bharti Airtel. Other institutional investors, who jointly own 45 per cent in Dish TV, are also keen to sell their stake, according to banking sources. READ MORE

Airline stocks: India’s largest carrier IndiGo will cut 20 per cent of its flights due to lower demand as a rapidly spreading coronavirus upends the recovery of air travel. Meanwhile, other airlines are being forced to cancel flights as states tighten restrictions to combat the spread of the virus, and people are dropping last-minute travel plans. READ MORE

Bajaj Hindusthan: The Uttar Pradesh Cabinet has approved a proposal to impound Rs 1,000 crore from Bajaj Hindusthan’s power plant in the state to pay sugarcane farmers. According to the amended UP Sugarcane (regulation of supply and purchase) Act 1953, government agencies can impound the assets of the group companies if any firm defaulted on the payment of sugarcane dues. READ MORE

Motherson Sumi: The company has fixed January 17 as the record date for demerger of its Domestic Wiring Harness business into Motherson Sumi Wiring India and merger of Samvardhana Motherson International, the resultant company.

Sunteck Realty: The company informed BSE, that it had 29 per cent QoQ jump in pre-sales to Rs 352 crore, and collections of Rs 270 crore, up 30 per cent on a QoQ basis.

Bharti Airtel: The telecom major on Friday said it will pay interest on the deferred spectrum and adjusted gross revenue (AGR) liabilities, and will not issue equity to the government. Airtel owes the government around Rs 1 trillion in spectrum and AGR dues as of now.

Spandana Sphoorty: The troubled microfinance institution (MFI) has sought forbearance and a waiver from its lenders as regards some conditions in agreements on borrowing funds. While it is servicing all borrowing, there has been a breach in certain covenants on account of a rise in non-performing assets (NPAs) and a change in management, the MFI said in a filing with the BSE. READ MORE

JSW Steel: Sajjan Jindal-led JSW Steel said it will be investing Rs 15,000 crore to expand capacity at its Vijayanagar facility in Karnataka for commissioning in FY24. Of the total six-million-tonne expansion planned, the new part of the project consists of 5 million tonnes and one million tonnes at the existing facility through optimisation.

Jindal Stainless: Ratings agency, Crisil Ratings has upgraded the long-term bank facilities ratings of Jindal Stainless to AA-/Stable from A+/Stable. The rating of JSL’s short-term bank facilities have been reaffirmed at Crisil A1+.

Lupin: The drugmaker on Friday said it has launched antiviral medication Molnupiravir under the brand name Molnulup in India for the treatment of COVID-19. Molnupiravir has been given emergency use authorisation by the Drug Controller General of India (DCGI) for treatment of adult COVID-19 patients who have a high risk of progression of the disease, including hospitalisation.

SBC Exports: The company’s board has approved proposals for 1:1 bonus shares and a stock split in 1:10 ratio.

HKG: The company’s board is scheduled to meet on January 12 to consider proposals for bonus issue of equity shares, and migration of the company from SME Platform of BSE to the main board of BSE.

Stocks in F&O ban: Delta Corp and RBL Bank are the only two stocks in the F&O ban period today.