Stocks in focus: TCS, Wipro, ITC, Bharti Airtel, Maruti Suzuki, PVR, among others to remain in focus

Nifty futures were trading 25 points up at 11,819 on Singaporean Exchange, signalling a positive start for BSE Sensex and Nifty 50 on Thursday. Corporate earnings, newsflow related to coronavirus, stock-specific development along with oil and rupee movement will be tracked by market participants. Today markets will first react to TCS results and management commentary. Today, 5Paisa Capital Ltd., GM Breweries Ltd., Prabhat Dairy, and Titagarh Wagons will announce their results. “A decisive breakout above 11,800 in Nifty would further fuel the rally else some profit-taking can’t be ruled out. We feel it’s prudent to book partial profits after the recent rally and wait for any dip to re-enter in the index,” said Ajit Mishra, VP – Research, Religare Broking Ltd.

Tata Consultancy Services: TCS reported a stellar set of numbers for the three months to September with a consolidated net profit of Rs 8,433 crore, an increase of 20.3% sequentially. This excludes the provision of Rs 1,218 crore in the EPIC Systems Corporation legal case. Consolidated revenues came in at Rs 40,135 crore, up 4.7% sequentially, beating estimates handsomely.

Wipro: IT company Wipro said that its board will consider a buyback plan on October 13. This came on a day when TCS board cleared a buyback plan to up to Rs 16,000 crore. Wipro is also scheduled to announce its corporate results for the July-September quarter on Oct 13.

ITC: ITC expects Savlon to become a Rs 1,000-crore brand in terms of annual consumer spend by this fiscal end, backed by heightened demands for hygiene products. Last fiscal, consumer spend on this brand was around Rs 250 crore. ITC on Wednesday said Savlon has has grown 50% year-on-year for five years. “And the size of the brand is 15-16 times more than when we had acquired the brand,” it added.

Bharti Airtel: Bharti Airtel has extended its multi-year contract with Ericsson for deploying 5G-ready radio network, strengthening their long-standing partnership. This follows the announcement of a renewed pan-India managed services contract in July of this year.

Maruti Suzuki: The carmaker Maruti Suzuki India on Wednesday said its total production in September increased 25.63 per cent to 1.66 lakh units. The company produced a total of 1.32 lakh units in the corresponding month of last year.

PVR, Inox Leisure: The Delhi government on Wednesday permitted reopening of cinemas, theatres and multiplexes with up to 50 per cent of their seating capacity from October 15. Media and entertainment stocks will remain in focus today.