Larsen & Toubro (L&T), TCS, Banking Shares In Focus TodayPage Visited: 4
Stocks To Watch: Domestic stock markets are likely to halt a four-day winning run on Thursday, as Asian equities receded from record highs amid concerns about returning lockdown restrictions due to still increasing COVID-19 infections. The Singapore Exchange (SGX) Nifty index – an early indicator of the National Stock Exchange’s Nifty 50 benchmark – fell 102 points ahead of the opening of Indian markets. At 7:30 am, the SGX Nifty futures traded 1 per cent lower at 12,892.
Share markets elsewhere in Asia followed Wall Street’s sharp selloff on Thursday, as concerns about rising coronavirus infections and new shutdowns in major US cities hosed down earlier investor enthusiasm about COVID-19 vaccine developments.
Here are few stocks that will be in focus in Thursday’s session:
Banking and financial services shares will be in focus ahead of news updates from a key ruling in the Supreme Court on whether borrowers should be charged extra interest on EMIs deferred due to the coronavirus pandemic.
Larsen & Toubro
L&T Construction, part of the construction conglomerate Larsen & Toubro, will be in focus after the company said it had won a mega contract from the National High-Speed Rail Corporation, to construct 87.569 km of the Mumbai-Ahmedabad High Speed Rail (MAHSR) project, popularly referred to as the Bullet Train project.
Tata Consultancy Services (TCS)
TCS shares will be watched as the country’s largest software service provider announced Saturday, November 28, as the record date for its share buyback worth up to Rs 16,000 crore announced earlier. Record date is a cut-off date decided by a company to determine which shareholders are eligible to participate in a share buyback.
Wipro is likely to be in the limelight after the company fixed December 11 as the record date for determining the entitlement and the names of equity shareholders who are eligible to participate in its buyback programme worth upto Rs 9,500 crore. The company’s board of directors and shareholders have already approved the proposal to buyback up to 23,75,00,000 equity shares at Rs 400 per share.
Lakshmi Vilas Bank
Lakshmi Vilas Bank may see some action as Capri Global Holdings sold 20.55 lakh shares or 0.61 per cent in the troubled bank at Rs 12.4 per share. The bank’s shares had hit the lower limit of 20 per cent on Wednesday after the government placed the private sector lender under a moratorium and capped withdrawals, as part of a revival plan.