Indian benchmark indices are likely to open lower today as SGX Nifty fell 56 points to 17,326 amid weak global cues.
On September 8, the benchmark indices ended marginally lower amid weak global cues. Sensex closed 29.22 points lower at 58,250 and Nifty slipped 8.60 points to 17,353.
Here are the stocks that are likely to be in focus today.
TCS: Tech major Tata Consultancy Services (TCS) has been selected by South American airline Avianca to drive its cloud transformation. TCS will modernise Avianca’s IT infrastructure and build a new cloud-based digital core on Microsoft Azure.
TCS, with its deep domain knowledge of the airline industry, will help Avianca migrate 129 core applications to the cloud and will also manage the new cloud estate. TCS will utilise its proprietary automation tools and accelerators to drive this transformation, the IT company said in a release.
Infosys: A public rant against two Indian business giants by officials of Prime Minister Narendra Modi and his ideological allies has pissed off the business community, several industry executives told Reuters.
Over the weekend, a magazine run by members of Hindu nationalist Rashtriya Swayamsevak Sangh (RSS) launched an attack on Indian tech giant Infosys for failing to fix problems with the website of the income tax it manages.
The group, which is the ideological parent of Modi’s ruling party, called Infosys “anti-national” for letting down the tax system, sowing chills in Indian industry fearing it would fall on the wrong side of the Modi government.
Hero MotoCorp: The Group is aiming to treble its exports and international revenue to Rs 3,000 crore by FY24, driven by high growth in the European and American markets. The group is set to cross Rs 1,000 crore in exports and international revenue this financial year, backed by strong global demand for bicycles, e-bikes and automotive components segments, which would be as much as 92 per cent higher over FY21, HMC Group said in a release.
IRCTC: The Indian Railway Catering and Tourism Corporation (IRCTC) will start India”s first indigenous cruise liner from September 18, the railway PSU said on Wednesday.
In a tie-up with Cordelia Cruises, a private company, it will begin the first cruise from September 18 for which bookings can be done on the IRCTC website http://www.irctctourism.com.
UCO Bank: The Reserve Bank on Wednesday removed UCO Bank from its Prompt Corrective Action Framework (PCAF) following improvement in various parameters and a written commitment that the state-owned lender will comply with the minimum capital norms.
On a review of the performance of the UCO Bank, the Board for Financial Supervision on the basis of the published financial results for 2020-21 found that the bank was not in breach of the PCA parameter, the RBI said in a statement.
