Stocks to watch: TCS, Tata Power, Adani Power, Tata Motors, PNB, Voda Idea

BP and Reliance Industries (RIL) on Thursday announced the commencement of their new fuel retailing and mobility joint venture (JV).
At 08:37 am, Nifty futures on the Singapore Exchange (SGX) were trading 62.90 points or 0.58 per cent lower at 10,780.20, indicating a negative start for the Indian market on Friday.

Here's a look at the top stocks that may remain in focus today -

TCS: TCS reported profit before tax (PBT) of Rs 9,504 crore, which was 9.6 per cent lower than in the previous quarter and 10.65 per cent lower than the same period of the previous financial year. Net profit declined 13.81 per cent year-on-year (YoY) to Rs 7,008 crore for this period while sequentially it went down by 12.9 per cent. READ MORE

Tata Power, Adani Power: In a setback to Tata Power Mundra, Adani Power and Essar Power, the Gujarat government has gone back on its earlier decision to revise power purchase agreements (PPA), totalling 7,180 megawatt (Mw).

Tata Motors: The company's luxury car subsidiary Jaguar Land Rover (JLR) reported a decline of 42 per cent YoY in its retail sales at 74,067 units for the June quarter.

PNB: State-owned Punjab National Bank on Thursday said it has reported a fraud of Rs 3,688.58 crore in NPA account of Dewan Housing Finance Ltd (DHFL) to the RBI. That apart, the lender on Thursday said its board has approved a proposal to raise Rs 10,000 crore through a mix of both equity and debt.

RIL: BP and Reliance Industries (RIL) on Thursday announced the commencement of their new fuel retailing and mobility joint venture (JV). The JV will now begin rebranding RIL fuel retail outlets to Jio-BP.

Vodafone Idea: Vodafone Idea, the joint venture between Vodafone Group Plc and Aditya Birla Group, has defaulted on rental and energy payments for June to telecom tower companies. READ MORE

Coal India: The world's largest coal miner CIL on Thursday said it has lined up Rs 10,000 crore as capital expenditure (capex) for the current financial year. Besides, the government is considering a plan to raise as much as Rs 20,000 crore by selling stake in CIL and IDBI Bank, according to a Bloomberg report. 

VIP Industries: The company's board has approved NCD issue of up to Rs 100 crore. 

Gujarat Ambuja Exports said the board of directors of the company will meet on July 25  to consider the proposal for sub-division of equity share of the company of face value of Rs 2/(Rupees Two only) each into two equity shares of face value of Re 1 (Rupee One only) each.

Muthoot Capital Services completed a securitisation transaction of Rs 100.89 crore on July 06.


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