Stocks in the news: TCS, Tata Motors, Dr Reddy’s Labs, Vedanta and Alkem Labs

Nifty futures on the Singapore Exchange traded 136 points, or 0.84 per cent, higher at 16,269, signaling that Dalal Street was headed for a strong start on Friday. Here are a dozen stocks, which may buzz the most in today’s trade:

TCS: IT major TCS is likely to report nearly 15 per cent year-on-year (YoY) jump in revenues and 7-11 per cent YoY rise in June quarter profits . The demand commentary could be strong, even as margin may take a hit on wage hikes.

Tata Motors: The car maker’s UK arm Jaguar Land Rover reported a 37 per cent decline in retail sales at 78,825 units in the quarter ended June, impacted by semiconductor shortage, COVID-19 lockdowns in China and new model transition of Range Rover Sport.

Dr Reddy’s Laboratories: Th US health regulator has issued Form 483 with two observations after inspecting its manufacturing facility located at Srikakulam in Andhra Pradesh. As per USFDA, Form 483 is issued when the investigator has observed any conditions that violates Food Drug and Cosmetic (FD&C) Act and related Acts.

Vedanta:

said it will acquire debt-ridden Athena Chhattisgarh Power for Rs 564.67 crore. Liquidation process for the company was initiated in March last year.

SCUF, STFC:

(SCUF) said it has received approval from equity shareholders and creditors for its merger with (STFC).

Alkem Laboratories: The company said the US health regulator has issued Form 483 with one observation after inspecting its facility at Indore in Madhya Pradesh.

Transmission: The company has completed the acquisition of the remaining 15 per cent stake in Sweden-based engineering procurement and construction company Linjemontage i Grastrop AB for $11.5 million (around Rs 91 crore).

InterGlobe Aviation: IndiGo will increase its pilot salaries by 8 per cent from August, reacting to their demands to reinstate remuneration to pre-Covid levels, as air travel bounces back.

Tata Power: The company plans to invest over Rs 75,000 crore in renewables in the next five years and aims to have an electricity generation capacity of 30 GW during the same period with more than half coming from clean energy sources.

Unitech: The realty firm said Renu Sud Karnad and Balasubramanyam Sriram, who are non-executive nominee directors, have resigned from the company’s board citing professional constraints.

Bank of Baroda: The bank is mulling to raise capital by issuing long term bonds to finance infrastructure and affordable housing sectors in the country.

PFC: State-owned

(PFC) on Thursday inked a loan pact for JPY 30 billion with Japan Bank for International Cooperation (JBIC).

Axis Bank: Private sector lender

has signed an MoU with the Indian Air Force (IAF) to manage salary accounts of the defense personnel.

JK Tyre:

& Industries announced the appointment of Anuj Kathuria as President (India). An automotive industry veteran with 31 years of experience, Kathuria will report to company Chairman & Managing Director Raghupati Singhania and Managing Director Anshuman Singhania, the company said in a statement.

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