SGX Nifty50 futures were up 0.3 percent at 17,368.5 as of 6:50 am on Thursday, signaling a higher start for Indian benchmark indices. The stock market remained highly volatile, eventually closing with moderate losses in the last session as selling pressure was seen in select banks, auto, IT and metals stocks. Weakness in European markets amid concerns between Ukraine and Russia also weighed on the streets. The BSE Sensex fell 145 points at 57,997 while the Nifty50 fell 30 points to 17,322 forming a bearish candle on the daily charts as the close was below the opening levels.
Here are the top stocks to watch out for in trading today
Tata Consultancy Services (TCS)
The company announced a partnership with MATRIXX Software to provide a comprehensive next-gen subscription management platform for communications service providers. This will help communications service providers transform their prepaid and postpaid businesses, improve the customer experience and drive growth. TCS ended the day on a flat note. The stock has returned 22.7 percent in the past year, but has fallen 4 percent in the past month.
Tata Motors
Jaguar Land Rover, UK has announced a partnership with NVIDIA.
wipro
The company was awarded a five-year contract to drive the transformation of ABB’s digital workplace services for information systems. The agreement, valued at more than $150 million, will help ABB’s information systems deliver enhanced, consumer-quality digital experiences for its 1,05,000 employees in more than 100 countries. Wipro closed flat on February 16. The stock has returned 29 percent in the past year but has fallen 12 percent in the past month.
infosys
The company has been named a foundational partner for the launch of Google Cloud Cortex Framework. Infosys will help clients accelerate digital transformation and drive new business opportunities 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 fell 0.3 percent on Feb. 16, but has returned 34 percent in the past year. The stock has lost 10 percent in the past month.
Avenue Supermarts
Credit rating agency CRISIL has reaffirmed the AA+ rating for the company’s bank loans of Rs 500 crore, with a stable outlook. The stock lost 0.75 percent on Feb. 16 and has returned 29 percent in the past year. In the past week, 6 percent has been lost.
Southern Petrochemicals
Consolidated profit in Q3FY22 grew significantly by 832 percent year-over-year to Rs 59.6 crore compared to Rs 6.4 crore in Q3FY21, helped by higher revenues in its core urea business and significant savings in energy and fuel costs when it switched to gas as a fuel. Consolidated revenue grew 15 percent to Rs 492 crore from Rs 427 crore in the same period. The stock rose 4 percent on Feb. 16, gaining 121 percent over the past year.
GHCL
The company has approved an additional capital budget of Rs 83 crore for the spinning division for FY22. The capex will be spent on the installation of a 20 MW solar power plant for use by Madurai and Manaparai units of the Spinning Division in Tamil Nadu. The stock appreciated 0.8 percent on Feb. It achieved returns of 99 percent in the past year, but lost 4.7 percent and 6.4 percent in the past month and week, respectively.
Hindustani Aviation
HAL has reached a settlement with RUAG Aerospace about an arbitration.
Dear Agrolife
Subsidiary Best Crop Science has received a technical permit for the indigenous production of spiromesifen (used for the control of mites and flies in crops), from the Central Insecticide Council and the Registration Commission.
Future consumer
The company has defaulted on repaying Rs 26.67 crore of debt owed to CDC Emerging Markets.
Results today
Ambuja Cements and Nestle India will announce their quarterly figures on Thursday.
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