Stocks in the news today: Here is a list of top stocks that are likely to be in focus on Wednesday's trading session based on recent and latest news developments. Investors are also awaiting December quarter earnings that are scheduled to be released today. Companies set to announce their earnings are Larsen & Toubro Infotech Ltd, Reliance Industrial Infrastructure Ltd, Sterlite Technologies Ltd among others.
Wipro: IT giant Wipro's Q3 consolidated profit dropped 3.2% YoY to Rs 2,462.90 crore, while its revenue rose 2.73% to Rs 15,470.50 crore, down from Rs 15,059.5 crore in the same period last year. The company's revenue from IT services also rose 2.97% to Rs 15,100.6 crore. IT services operating margin for the quarter was at 18.4%, recording an increase of 0.3% QoQ, the company said.
Mindtree: IT major Mindtree Q3 net profit grew 3.1% YoY to Rs 197 crore, while its revenue rose 10.0% to Rs 1,965 crore. Mindtree's Digital business grew by 13.5% year-on-year. The company's revenue from Hi-Tech and Media grew 15.2%, while BFSI segment grew 7.7% on a yearly basis. Company's EBITDA margin was improved by 260bps on a quarterly basis.
Indiabulls Housing Finance: Company has made timely payment of interest in respect of the Secured Redeemable Non-Convertible Debentures (NCDs) issued on private placement basis.
Canara Bank: The lender informed the stock exchanges that it has decided to call-off the divestment process of its entire stake in M/s Can Fin Homes Ltd, which was under progress.
Axis Bank Limited: The lender informed that the record date for payment of interest on Unsecured Redeemable Non-Convertible Subordinated Debentures (Basel Ill Compliant Tier II Debentures Series) due on l2 February 2020 for the period 1l-12 February 2020, will be 28 January 2020.
CSB Bank: The lender said that the regulatory restrictions imposed by Reserve Bank of India on the opening of new branches due to delayed IPO have been lifted by RBI, with effect from January 10, 2020.
Corporation Bank: The bank has revised Tenor based Marginal Cost of Funds Based Lending Rate (MCLR), for all new rupee loans and advances including renewals with effect from 15 January 2020.
Saksoft Limited: Company has informed the exchanges that Credit Analysis and Research Ltd has assigned an upward rating to the long term facilities of the company from Care B+, positive to Care A-, stable.
Shivam Autotech: In an intimation release for the disruption at workplace, company informed the exchanges that workmen union have disrupted the production in one of its plants situated at Binola, Gurugram. The management is taking necessary steps to resolve the problem amicably.
Transwarranty Finance Limited: Company's Debenture Issue Committee has approved the issue and allotment of Secured and Unsecured Redeemable Non-Convertible Debentures (NCDs) under the fifth tranche amounting to Rs 27 lakhs on private placement basis. The unsecured NCDs are in the nature of the Subordinated Debt.
Bharat Wire Ropes: Company in its filing said that its total financial indebtedness including short-term and long-term debt stood at Rs 570 crore.
Q3 Earnings: Larsen & Toubro Infotech Ltd, Reliance Industrial Infrastructure Ltd, Sterlite Technologies Ltd, Tinplate Company of India, Plastiblends India, Den Networks are among the companies that are scheduled to post their December quarterly earnings today.