The Indian market is likely to open lower Friday following losses in global peers.
Here are the top 10 buzzing stocks for today:
1. Tata Consultancy Services
: The company’s Q1FY22 net profit fell 2.6 percent to Rs 9,008 crore from Rs 9,246 crore, revenue rose 3.9 percent to Rs 45,411 crore from Rs 43,705 crore, QoQ. $ revenue rose 2.8 percent to $6,154 million from $5,989 million, QoQ. EBIT decreased 1.2 percent to 11,588 crore, while EBIT margin fell by 130 bps to 25.5 percent, sequentially.
2. Tata Steel: CARE upgraded the long term credit rating on the company to AA+ from AA and the outlook to Stable from Negative.
3. Tata Motors: The company has inked a two-year memorandum of understanding (MoU) with Jammu & Kashmir Bank for retail finance.
4. Bharat Dynamics: The company has signed a contract worth about Rs 499 crore with the Ministry of Defence for the manufacture and supply of Akash Missiles to the Indian Air Force.
5. Union Bank of India: The bank has accepted bids to raise up to Rs 1,150 crore by issuing Basel III-compliant bonds.
6. JSW Ispat Special Products: The company’s crude steel production in Q1FY22 was at 0.14 million tonnes, down 6 percent from 0.15 million tonnes in Q4FY21 and up 76 percent from 0.08 million tonnes, YoY.
7. Elgi Equipments: The company’s US subsidiary has formed a Joint Venture company “Gentex Air Solutions, LLC” and invested $95,000 for a 33.33 percent stake.
8. Texmaco Rail & Engineering: CARE reaffirmed long term credit rating on the company at A-, but downgraded outlook to Negative from Stable.
9. Jammu & Kashmir Bank: The Reserve Bank of India has imposed a penalty of Rs 1 crore on the bank, on account of contravention of directions contained in circulars on 'Lending to Non-Banking Financial Companies (NBFCs) and Bank Finance to Non-Banking Financial Companies (NBFCs)'.
10. Dwarikesh Sugar Industries: The company has embarked upon a project to set up a 175 KLPD distillery at its Dwarikesh Dham Unit in Bareilly, Uttar Pradesh with an investment of Rs 232 crore.