Top 5 stocks in focus on July 11: TCS, Tata Motors to Axis Bank,here are the 5 newsmakers of the day
There are a few stocks that came in the news on Tuesday due to certain reasons and will have an impact on the market on July 11, 2018.
There are a few stocks that came in the news on Tuesday due to certain reasons and will have an impact on the market on July 11, 2018. List of companies that will be in focus during trade on July 11 due to recent and latest news developments are:
Tata Consultancy Services (TCS): The IT major on July 10, 2018, reported a 23.46 per cent year-on-year (YoY) growth in consolidated profit for June quarter at Rs 7,340 crore. Revenue grew almost 16 per cent to Rs 34,261 crore as the rupee depreciated about 5% against the U.S. dollar. The company in a statement has said that its revenue growth accelerated in the BFSI (4.1%), Retail & CPG (12.7%) and Energy & Utilities (30.9%) verticals.
PNB Housing Finance Limited: The housing finance company in a stock exchange filing on Tuesday said Punjab National Bank and US private equity investor the Carlyle Group are in the process of selling at least 51% stake in the mortgage lender.
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Tata Motors: The company has said that it has bought 26 per cent stake in TruckEasy, a tech-based freight aggregator. This is Tata Motors first investment in a start-up. It did not disclose the deal value but the investment is being done through Tata Motors Finance Holdings a wholly-owned subsidiary of the company.
Axis Bank: The company's board has recommended names of 3 candidates for the position of MD & CEO. The candidate, as approved by the RBI, will succeed Shikha Sharma whose term as MD & CEO is due to expire on December 31, 2018.
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Glenmark Pharmaceuticals: Glenmark has exclusively launched Akynzeo, a single-dose oral capsule for each chemotherapy cycle that covers both the acute and delayed phase of chemotherapy-induced nausea and vomiting. The drug has been developed by Swiss company Helsinn and Glenmark has exclusive marketing rights for this drug in India and Nepal.