The best stocks for investors on July 8
Indian markets are expected to open on a flat note following a mixed trend among their global peers. As of 7:00 am, SGX Nifty was trading 26.00 points or 0.16% lower at 15,862.50, indicating a flat to negative start for the broader index in India, cncbctv18.com reported.
Top stock to look for for the day:
Tata Consultancy Services: The IT giant will announce its June quarter earnings season (T1FY22) on Thursday. It is expected to post 3.6% dollar revenue growth and 3.3% constant currency revenue growth in the first quarter of fiscal 22.
Bajaj Healthcare: The company has received a license from the Defense Research and Development Organization (DRDO) to manufacture and market “2-Deoxy-D-Glucose” (2-DG) used in the control and treatment of COVID-19.
Housing finance PNB: Developer Punjab National Bank (PNB) has asked the company to consider restructuring its fundraising plans. The proposed Rs 4000 crore capital injection deal is led by the US-based Carlyle Group.
Hindustan Oil Exploration: HDFC sold a 2.46% stake in the company for 37.2 crore rupees, reducing the stake to 8.75% from 11.21% previously.
REC Ltd: The company has raised $ 400 million (approximately Rs 2,986 crore) by issuing bonds to finance the power sector. The bonds will be issued under the company’s USD 7 billion Global Medium Term Note program.
KPR Mill: The company’s board of directors will consider a stock split on July 27.
Piramal Enterprises: On July 12, the company’s board of directors will review the issuance of Rs 200 crore non-convertible debentures (NCDs) on a private placement basis.
Zee Entertainment Enterprises: The company has received government approval to divest its digital publishing business division to Rapidcube Technologies.
Railtel Corporation of India: The company has received a work order in the amount of Rs 23.43 crore from Sagar Cable Network.
Zuari Global: The company acquired 13.19% of the shares of Forte Furniture Products India from Indian Furniture Products (IFPL), a subsidiary of the company.
Angel Broking: ICICI Prudential Asset Management Company sold 0.09% of the company’s share capital through an open market sale on July 5, reducing the stake to 3.03% from 3.11% earlier .
Garware Hi-Tech Films: The rating agency CARE has raised its rating and outlook for the company’s banking facilities, to A + / Stable, from A / Positive.
Profits: Gammon Infrastructure Projects, Tata Consultancy Services and Shyam Metalics and Energy, among others, will release their quarterly results on July 8.
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