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Stocks to Watch: Adani Ports, telecom companies, Tata Steel, Wipro, Affle India

05 May , 2021   By : Kanchan Joshi


Stocks to Watch: Adani Ports, telecom companies, Tata Steel, Wipro, Affle India

NEW DELHI: Here are the top 10 stocks that could be in focus today:


Adani Ports and SEZ: The company reported a 288% jump in consolidated net profit to Rs1,321 crore for the quarter ended March. Consolidated total income increased to Rs4,072.42 crore for the fourth quarter as against Rs3,360.17 crore in the year-ago period.


Telecom companies: The Department of Telecom on Tuesday approved applications of telecom companies -- Reliance Jio, Bharti Airtel, Vodafone and MTNL -- for conducting 5G trials but none of them will be using technologies of Chinese entities. The list of telecom gear makers approved for trials include Ericsson, Nokia, Samsung, C-DOT and Reliance Jio's indigenously developed technologies.


Banks and financials: The Reserve Bank of India Governor Shaktikanta Das will make an unscheduled address at 10 am on Wednesday. Meanwhile, US Treasury Secretary Janet Yellen conceded that interest rates may have to rise to keep a lid on the burgeoning growth of the US economy.


Tata Steel: The company will report its March quarter earnings today. The steel major reported a profit of Rs4,010 crore in the December quarter. Consolidated revenue rose over 11% to Rs39,809 crore during the third quarter.


Wipro: The IT company said on Tuesday it will invest £16 million (about $22 million) over the next four years to set up a 20,000 sq. ft. innovation centre Holborn, London. The centre will serve as Wipro’s flagship centre in the UK and offer technology expertise to companies globally.


InterGlobe Aviation: The board of the company that runs IndiGo will meet on 7 May to discuss raising funds through a qualified institutional placement (QIP). Earlier in January, it had shelved plans to raise funds up to Rs4,000 crore through a qualified institutional placement (QIP), opting instead to raise money through sale and lease back (SLB) transactions and other alternative options.


Maruti Suzuki India: The country's largest carmaker expects some impact on its production if lockdowns and curfews imposed across various states continue amid the second wave of COVID-19 sweeping across the country. The auto major, which has around 50 per cent market share in the domestic passenger vehicle segment, anticipates a hit on the manufacturing activities as lockdowns would impact the functioning of its sales network.


Hindustan Aeronautics Ltd: The state-run company and UK’s Rolls-Royce have signed a memorandum of understanding (MoU) to establish packaging, installation, marketing and services support for Rolls-Royce MT30 marine engines in India.


RBL Bank: The private lender on Tuesday reported a 34?cline in its March quarter profit to Rs75 crore compared to Rs114 crore in the year-ago period due to provisioning for possible loan losses that it sees in the retail unsecured segments. The city-based lender's net profit for FY2020-21 increased marginally to Rs508 crore from the year-ago's Rs506 crore. Total income during the January-March quarter fell to Rs2,611 crore from Rs2,709 crore in the year-ago period


Affle India: The company announced the closure of its qualified institutional placement offer on 4 May. The fund raising committee of the company has determined and approved the issue price of Rs5200 per equity share (including premium of Rs5190 per share) to be allotted to eligible qualified institutional buyers. The price of Rs5200 per equity share takes into account a discount of Rs222.94 per equity share (4.11% to the floor price).


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