[vc_row][vc_column][/vc_column][vc_column][vc_column_text]Stocks in the News (14 Oct):
Infosys is expected to report September quarter results later in the day. The IT services major is expected to report around 4 percent growth in dollar revenue for the quarter-ended September 30, while constant currency topline growth could be more than 2.5 percent. Revenue growth will be driven by ramp-up of large deals, which could also lead to an increase in revenue growth guidance. Key things to watch out for would be full year guidance, demand trends across verticals, update on deal wins, M&A strategy, pricing pressure and cost take outs, commentary on normalisation of decision-making cycle and deal pipeline, and opportunity in terms of higher outsourcing activities by clients and progress on vendor consolidation decisions.
Karnataka Bank reported a rise in net profit of 12.78 per cent to Rs 119.44 crore in the quarter ended September 2020 as against Rs 105.91 crore during the previous quarter ended September 2019. Net interest income (NII) increased to Rs 575 crore from Rs 498.7 crore YoY.
IRCTC: As per reports, Indian Railways will run 392 festival special trains from October 20-November 30.
NTPC will raise Rs.4,000 crore on 15 October 2020, through private placement of unsecured non-convertible bonds (NCDs) in the nature of debentures at a coupon of 5.45% p.a. with a door to door maturity of 5 years on 15 October 2025.
Wipro: The company on Tuesday approved a share buyback worth Rs 9,500 crore, having improved its performance in the second quarter of FY21 on several parameters, apart from giving a stronger outlook. It has reported dollar revenue growth of 3.7 percent at $1,992.4 million against $1,921.6 million QoQ, expects dollar revenue growth at 1.5-3.5 percent in Q3.
Tata Steel Long Products: The company reported a net profit of Rs 59.06 crore for the quarter ended September as compared to a loss of Rs 196.88 crore in the year-ago period.
Maruti Suzuki India plans to introduce a slew of new sport utility vehicle (SUVs) models over the next couple of years as it seeks to straddle the segment with multiple product offerings at varied price points, said people aware of the company’s plans.
TVS Motor Company -LIC increased stake in the company to 4.87% in the September quarter, from 3.18% in June quarter.
PNB Gilts – CRISIL re-affirmed its credit rating of ‘A1+’ as assigned to Rs 1,000 crore Commercial Paper programme.
Banking Stocks: Today the Supreme Court will hear a batch of petitions seeking a waiver of interest on loans during the moratorium period and seeking an extension of the moratorium. Investors will track the court proceedings, with bank stocks being in focus.[/vc_column_text][/vc_column][/vc_row]