SGX Nifty50 futures were up 0.3 per cent at 17,368.5 as of 6:50 am on Thursday that hinted at a higher start for Indian benchmark indices. The stock market remained highly volatile and finally closed with moderate losses in the last session as the selling pressure was seen in select banks, auto, IT and metal stocks. The weakness in European markets amid Ukraine-Russia concerns also weighed on the street. The BSE Sensex was down 145 points at 57,997, while the Nifty50 fell 30 points to 17,322 and formed a bearish candle on the daily charts as the closing was lower than opening levels.
Here are Top Stocks to Watch Out for in Trade Today
Tata Consultancy Services (TCS)
The company announced a partnership with MATRIXX Software to offer a comprehensive next-gen subscription management platform for communication service providers. This will help communication service providers transform their prepaid and postpaid businesses, enhance customer experience and drive growth. TCS ended the day on a flat note. The stock has generated returns of 22.7 per cent in the past one year but is down 4 per cent in the past one month.
Tata Motors
Jaguar Land Rover, UK has announced a partnership with NVIDIA.
Wipro
The company received a five year contract to drive transformation for ABB’s information systems digital workplace services. The agreement, worth over $150 million, will help ABB’s information systems deliver enhanced, consumer-grade digital experiences for its 1,05,000 employees in over 100 countries. Wipro closed flat on February 16. The stock has generated 29 percent returns in the past one year but is trading down 12 percent in the past one month.
Infosys
The company has been named a foundational partner for the launch of Google Cloud Cortex Framework. Infosys will help clients to accelerate digital transformation and power new business capabilities with its data, analytics and AI expertise. The company will take advantage of Google Cloud Cortex Framework, along with its strong experience in SAP and Google Cloud ecosystems, to deliver better business outcomes. Infosys was down 0.3 per cent on February 16 but has generated returns of 34 per cent in the past one year. The stock has lost 10 per cent in the past one month.
Avenue Supermarts
Credit ratings agency CRISIL has reaffirmed AA+ rating for the company’s bank loan facilities of Rs 500 crore, with a stable outlook. The stock was down 0.75 per cent on February 16 and has generated returns of 29 per cent in the past one year. In the past one week, it has lost 6 per cent.
Southern Petrochemicals
Consolidated profit in Q3FY22 grew significantly by 832 per cent year-on-year to Rs 59.6 crore compared to Rs 6.4 crore in Q3FY21 aided by higher revenues in its core urea operations and significant savings in power & fuel costs as it shifted to gas as a fuel. Consolidated revenue grew by 15 per cent to Rs 492 crore from Rs 427 crore during the same period. The stock was up 4 per cent on February 16 and gained 121 per cent in the past one year.
GHCL
The company has approved an additional capital budget amounting to Rs 83 crore for spinning division for FY22. The capex will be spent on installation of a solar power plant of 20 MW for use by Madurai and Manaparai units of the spinning division in Tamil Nadu. The stock appreciated 0.8 percent on February 16. It has generated returns of 99 per cent in the past one year but has lost 4.7 per cent and 6.4 per cent in the past one month and past one week respectively.
Hindustan Aeronautics
HAL has reached a settlement with RUAG Aerospace over an arbitration.
Best Agrolife
Subsidiary Best Crop Science has received a licence for indigenous manufacturing of spiromesifen (used to control mites and fly in crops) technical, from the Central Insecticides Board and Registration Committee.
Future Consumer
The company has defaulted on Rs 26.67 crore debt repayment to CDC Emerging Markets.
Results Today
Ambuja Cements and Nestle India will declare their quarterly earnings on Thursday.
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