CNBC-TV18 top stocks to watch out for on August 2: Bharti Airtel, Jet Airways, Jaypee Infratech

SUMMARY

The Indian market is set to start on a weak note on Friday tracking global markets, which traded lower as US President Donald Trump announced imposition of a 10 percent tariff on $300 billion of Chinese imports from September 1, escalating trade tensions between Washington and Beijing. At 7.30 AM, the SGX Nifty futures traded lower by 46.50 points or 0.42 percent at 10,970, indicating a negative start for the Sensex and the Nifty 50. Here are the top stocks to watch out for on August 2:

By CNBC-TV18Aug 2, 2019 8:43:38 AM IST (Updated)

Bharti Airtel: Bharti Airtel Ltd reported a worse-than-expected quarterly loss on Thursday, as the company lost more customers and spent more to upgrade its 4G network during the quarter. The company's net loss for the three months ended June 30 was Rs 2,866 crore, compared to a profit of Rs 97.3 crore a year ago. Revenue rose 4.7 percent to Rs 20,738 crore.

Jet Airways: The lenders met on Thursday to discuss the draft terms for the request for proposal (RFP) to invite binding bids. Jet Airways had set August 3 as the deadline to submit expression of interest (EoI) for the airline.

L&T: Engineering major Larsen & Toubro Thursday said it has got shareholders' approval to raise up to Rs 4,000 crore or $600 million by the issuance of different modes of securities. The proposal to fundraising was approved by the requisite majority of shareholders at its annual general meeting held on August 1, 2019, according to a BSE filing.

Tata Motors: Tata Motors on Thursday announced its plans to reduce the price of its compact sedan Tigor EV by Rs 80,000, starting August 2019. The move comes after the goods and services tax (GST) rate on electric vehicles was reduced to 5 percent from 12 percent last week.

Eicher Motors July Sales: Total Royal Enfield sales fell 22 percent to 54,185 units versus 69,063 units YoY.

ACC: The company appointed Rajani Kesari as the Chief Financial Officer.

Wipro: N Vaghul, Independent Director and Dr Ashok S Ganguly, Independent Director, have retired from company's Board of Directors. The company launched a co-innovation center with Amazon Web Services.

Jaypee Infratech: NCLAT overturns NCLT order directing return of 758-acre land to Jaypee Infra under IBC.

Talwalkars: Talwalkars Healthclubs Ltd (THL) in a filing on Thursday said that CARE Ratings has downgraded its 'long-term facilities' of Rs 280.74 crore to 'B' from A+ earlier. Its non-convertible debenture issue of Rs 163.34 crore has also been downgraded to 'B' (under credit watch with negative implications) from A+ with a stable outlook earlier.

Tata Power: Tata Power's consolidated net profit declined by 86 percent to Rs 230.80 crore in the April-June quarter of 2019-20 mainly due to exceptional gains in the same quarter of last year, according to a regulatory filing.