Stocks to watch: Bajaj Finance, Federal Bank, Tata Comm, Garden Reach

Nifty futures on the Singapore Exchange traded 45 points down at 14,509 levels around 8.30 am, indicating a tepid start for the Indian benchmark indices on Wednesday. 

Here are the top stocks to track today:

Q3 earnings: Bajaj Finance, Bajaj Finserv, HDFC AMC, Havells India, Federal Bank and L&T Technology Services are among 36 companies set to post their December quarter numbers today.

Federal Bank: Rakesh Jhunjhunwala reduced stake in Federal Bank to 2.4 per cent from 2.71 per cent during the third quarter of FY21.

Network 18 Media and Investments: The company reported over two-fold jump in consolidated net profit to Rs 333.38 crore for the third quarter ended December 2020.

TV18 Broadcast: The company reported a 40 per cent increase in consolidated net profit at Rs 28 crore in the third quarter ended December 31, 2020.

Tata Communications: The government will sell its entire 26.12 per cent stake in Tata Communications, erstwhile VSNL, through an offer for sale and strategic sale route in the current fiscal. Meanwhile, Tata Communications posted over a five-fold jump in consolidated net profit at Rs 309.41 crore for the December 2020 quarter.

Garden Reach Shipbuilders: The company will conduct a roadshow on January 20-21 as the government looks to divest stake in the firm via offer for sale (OFS).

Larsen & Toubro Infotech: The firm on Tuesday reported a 37.85 per cent jump in net profit to Rs 519.3 crore for the December quarter, mainly driven by a surge in revenue and margin expansion.

Indian Bank: A meeting of Board of Directors of Indian Bank is scheduled on January 22 to consider a proposal for raising of fund/equity capital.

Prince Pipes & Fittings: The firm received first tranche of Rs 26.1 crore from promoter group entity Prince Marketing. The company had remitted an advance amount of Rs 40 crore to Prince Marketing for purchase of immovable property in Mumbai.

HG Infra Engineering: The firm gets appointed date from NHAI for construction of the proposed Rewari bypass in Haryana on a Hybrid Annuity Mode. The 14.4 km project is scheduled to be completed in two years and HG Infra placed a bid of Rs 522.02 crore.

Sobha: The wholly-owned subsidiary of Sobha, Sobha Highrise Ventures, has acquired 100 per cent equity shares of Annalakshmi Land Developers.


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