CNBC-TV18's top stocks to watch out for on April 16

SUMMARY

The Indian market is likely to open little higher tracking the SGX Nifty that was trading 18.80 points or 0.21 percent higher at 8,851.80 at 7:00 am. However, fall in Asian peers as the coronavirus pandemic concerns weigh on investor sentiment may limit gains in domestic markets.

By CNBC-TV18Apr 16, 2020 7:18:10 AM IST (Published)

Wipro: The company reported 1 percent QoQ fall in IT services segment revenue in Q4FY20 at $2,073.7 million while the segment’s operating margin declined by 80 bps to 17.6 percent. Net income for the quarter was Rs 2,326.1 crore.

TCS: The largest software services exporter will release its March quarter today. Analysts expect TCS to report a subdued set of numbers with constant currency revenue growth of 0.6 percent QoQ.

Tata Steel: S&P Global Ratings has lowered its long-term foreign currency issuer credit rating on Tata Steel to 'B+' from 'BB-' on expected rise in leverage and revised the outlook to ‘Negative’.

Bajaj Auto: The company has proposed a 10 percent pay cut for factory employees if production does not resume on April 21.

Escorts: The company has announced that all offices and plants across the company shall remain shut till May 3.

Bajaj Consumer Care: The company has launched a hand sanitizer product.

Pidilite Industries: The company has said that operations in two of its facilities have partially resumed.

Shriram Transport Finance: The company will consider raising funds via NCDs on April 20.

Deepak Fertilizers and Petrochemicals: SEBI has extended time till May 15 for the conversion of warrants worth Rs 41.66 crore into equity shares made by promoters.

India Cements: CARE has revised ratings on the company's long-term bank facilities and non-convertible debentures as 'CARE A-' from 'CARE A'. The outlook remained 'stable'. On the short-term bank facilities, the revised rating is 'CARE A2+' from 'CARE A1' earlier.

JSW Energy: Brickwork Ratings India has reaffirmed its ratings of 'BWR A1+' on commercial papers of the company.