Stocks in the news: TCS, Biocon, NTPC, Union Bank, Tata Power and JSW Steel

Stocks in the news: TCS, Biocon, NTPC, Union Bank, Tata Power and JSW Steel

Nifty futures on the Singapore Exchange traded 48.5 points, or 0.34 per cent, higher at 14,258.50, in signs that Dalal Street was headed for a positive start on Friday. Here are a few stocks which may buzz the most in today’s trade:

TCS: The IT firm will announce Q3 results on Friday. The Tata Group firm is expected to sustain the revenue momentum in the December 2020 quarter following pick up in the business activities. Net profit without considering one-off legal expenses in the previous quarter may show weakness in the third quarter given the salary increase and unfavourable currency movements.

NTPC: Power giant NTPC served notices to six states and two Union Territories for non-payment of dues, according to a source. NTPC has also made it clear that it will be forced to shut-off or restrict power supply if they fail to clear their dues, the source said.

Biocon: Biocon announced that its subsidiary Biocon Biologics has approved a primary equity investment by Abu Dhabi-based ADQ, one of the region’s largest holding companies. As per the terms of the proposed agreement, ADQ will invest Rs 555 Crore for a 1.80 per cent minority stake in the biosimilar business, valuing Biocon Biologics at a post money valuation of $4.17 billion.

Union Bank: State-owned Union Bank of India said it has raised Rs 1,000 crore by issuing Basel III-compliant bonds on a private placement basis. The bank has issued Basel III-compliant Perpetual Debt Instruments in the nature of debentures eligible for inclusion in Additional Tier 1 Capital to the tune of Rs 1,000 crore, according to a regulatory filing.

Tata Power: The company has received an order from the Kerala State Electricity Board Limited (KSEBL) to develop a 110-megawatt (MW) solar power project in the state.

DHFL: US-based Oaktree Capital has said its revised bid for the debt-ridden DHFL is unconditional and comes with a commitment of fresh capital infusion of Rs 1,000 crore for the revival of the company.

HCL Technologies: The IT services major said it has partnered with Claim Genius, an artificial intelligence (AI) automation solutions provider for the auto insurance market, to jointly develop and market new AI claims management solutions.

NALCO: Union minister Pralhad Joshi said state-run National Aluminium Company Ltd (NALCO) will invest around Rs 30,000 crore for its ambitious expansion and diversification projects in the next six to seven years, which will help achieve the Centre’s goal of ‘Atmanirbhar Bharat’.

JSW Steel: JSW Steel posted a marginal growth of 2 per cent in crude steel output at 4.08 million tonnes during the October-December period of the ongoing fiscal. The Sajjan Jindal-led company had produced 4.02 MT in the year-ago period, it said in a statement.

ITI: State-run electronic manufacturing firm ITI said Rakesh Chandra Tiwari has taken over as its Director (Marketing).

IDFC: Sipadan Investments (Mauritius) sold more than 8 crore shares of IDFC worth over Rs 320 crore through an open market transaction. According to the bulk deal data available with BSE, Sipadan Investments divested 8.26 crore shares at an average price of Rs 38.76 apiece, taking the total deal value to Rs 320.37 crore.

SBI: State Bank of India (SBI) and Indian Oil Corporation (IOC) on Thursday launched a co-branded contactless RuPay debit card. A customer, anywhere in the country, can get the card by visiting the SBI’s home branch, the bank said in a release.

Himadri Foods: The National Company Law Appellate Tribunal (NCLAT) on Thursday dismissed a plea challenging an NCLT order that allowed reviving an insolvency petition filed against Himadri Foods. The National Company Law Tribunal (NCLT) had directed to restore and revive an insolvency petition filed by Credit Suisse Funds AG against Himadri Foods following non-compliance of the settlement agreement.

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