Stocks to watch: RIL, Infosys, Bharti Airtel, SBI, Wipro, Bandhan Bank, LTI

State Bank of India will seek the approval of its board, on Wednesday, to raise capital through additional tier-1 (AT1) and tier-II bonds from the markets in FY21.
At 08:43 am, Nifty futures on the Singapore Exchange (SGX) were trading 77.25 points or 0.73 per cent higher at 10,685.20, indicating a positive start for the Indian market on Wednesday.

Here's a list of stocks that may remain in focus today - 

RIL: All eyes will be on Mukesh Ambani-controlled Reliance Industries (RIL)'s 43rd annual general meeting (AGM) today. Clarification on Saudi Aramco deal, plans for Jio Platforms listing, Jio Fiber trajectory, and the launch of 5G services are some of the key expectations of the analysts from the AGM.   

Wipro: Information technology (IT) IT services major Wipro on Tuesday reported a better-than-expected quarterly performance in Q1 of FY21, as its profitability improved despite contraction in revenues on a sequential basis.

Infosys: The IT major is slated to announce its June 2020 quarter results later in the day. The company is expected to report subdued numbers due to disruptions caused by the Covid-19 pandemic. Deal pipeline, key impacted verticals, and the magnitude of pricing pressure and revival trend are some of the key things to watch out for. That apart, the company on Tuesday said it has partnered with investment management company Vanguard whereby it will manage certain activities of the US firm.

Earnings today: Besides Infosys, 52 other companies including Bandhan Bank, and Larsen & Toubro Infotech, are scheduled to announce their quarterly results.

SBI: State Bank of India will seek the approval of its board, on Wednesday, to raise capital through additional tier-1 (AT1) and tier-II bonds from the markets in FY21.

Bharti Airtel: Bharti Airtel on Tuesday announced its partnership with USA’s Verizon to offer seamless videoconferencing solutions to businesses in India. This announcement comes within weeks of rival Reliance Jio launching a similar service.

Delta Corp: It has reported net loss of Rs 28.24 crore in Q1 June 2020 as compared to net profit of Rs 42.48 crore in the year-ago period. 

YES Bank on Tuesday allotted shares worth Rs 4,100 crore to 14 institutional investors in the ‘anchor’ category of its follow-on public offering (FPO).

Oberoi Realty: The company on Tuesday reported a 82 per cent decline in its consolidated net profit at Rs 28.07 crore for the quarter ended June. Its net profit stood at Rs 152.07 crore in the year-ago period, the company said. 

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel