TAmid positive global cues and gains in the Asian peers, Indian market is expected to open higher on Monday, January 11. Indicating a positive start for Sensex and Nifty50, SGX Nifty was trading 99.50 points or 0.69 percent higher at 14,476.00.
Here are the top stocks for investors for the day:
HDFC Bank: The name of ICICI Prudential Life did not appear as a stakeholder in the December quarter shareholding, however, in September, the company had 1.23 percent stake in HDFC Bank.
Union Bank of India: Marginal Cost of Funds-based Lending rate (MCLR) has been reduced by 5 basis points for 1 month tenor and 15 basis point for overnight and will be effective from January 11. Post this change, 1 month MCLR is 6.70 percent and overnight MCLR is 6.60 percent.
Reliance Infrastructure: For the sum of Rs 900 crores, the company has sold its 74 percent stake in PKTCL to India Grid Trust. Reportedly, this amount will bring down the company’s debt from Rs 14,000 crores to Rs 13,100 crores.
PVR: The stake of Foreign Portfolio Investors in the company has increased from 34.6 percent in the previous quarter to 38.5 percent in the December quarter.
Tata Consultancy Services: There has been an increase in the profit and revenue of the company. The profit increased from Rs 8,118 crore to Rs 8,701 crore, which is a rise of 7.2 percent. The rise in revenue is from Rs 40,135 crore to Rs 42,015 crore, which is an increase of 4.7 percent QoQ.
Tata Steel: Indian business production of the company increased 2.9 percent YoY and 0.2 percent QoQ to 4.6 mt. However, deliveries fell 3.9 percent YoY and 7.7 percent QoQ to 4.66 mt.
Bharti Airtel: Pradipt Kapoor has been appointed as the Chief Information Officer of the company.