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Stocks in focus: TCS, Vodafone-Idea, Canara Bank, NTPC, HDFC Bank, Coal India

tcs, vodafone idea, hdfc banktcs, vodafone idea, hdfc bankAnalysts say that Tuesday’s session would be interesting to watch out for, as close above 13360 will push Nifty 50 higher.

Nifty futures were trading flat with a negative bias in the early deals on Tuesday, suggesting a flat opening for BSE Sensex and Nifty 50. In the previous session, headline indices ended at a fresh record high levels led by robust buying in finance, FMCG and banking stocks. Analysts say that Tuesday’s session would be interesting to watch out for, as close above 13360 will push Nifty 50 higher. “Buying is advisable only if Nifty falls to 13150/13100 levels. Pharmaceutical stocks should be in the focus list. Technology stocks are also due for a short term up move,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.

Canara Bank: The bank informed the exchanges said it has set a floor price of Rs 103.50 per share for its qualified institutional placement (QIP) to raise up to Rs 2,000 crore. It has also informed that a meeting of the Sub Committee of the Board – Capital Planning Process of Board of Directors of the Bank is scheduled to be held on Thursday, December 10, 2020, to consider and determine the issue price for the Equity Shares as well the number of shares to be allotted to qualified institutional buyers, pursuant to the QIP.

NTPC: NTPC has made an offer to buy back its masala bonds worth Rs 4,000 crore from bondholders or lenders. According to company statement, the offer include the rupee denominated Rs 2,000-crore 7.375 per cent notes issued on August 10, 2016, payable In USD and due on August 10, 2021.

Vodafone-Idea: The Supreme Court on Monday accepted the government’s suggestion to maintain status quo on fresh demands or recoveries between it and Vodafone Idea till the one-time spectrum charge (OTSC) case is finally decided in February.

HDFC Bank: The Reserve Bank of India’s (RBI) action against HDFC Bank in response to weaknesses in its digital infrastructure and operational resilience is credit negative, rating agency Moody’s said on Monday. On December 3, HDFC Bank announced that the RBI had asked the bank to temporarily stop all launches under its Digital 2.0 initiative and sourcing new credit card customers.

Coal India: Coal India’s production and dispatch are likely to get affected partially on Tuesday as transporters have decided to observe ‘chakka jam’, pledging support to the December 8 ‘Bharat Bandh’ called by farmers over the new agriculture laws, PTI quoted a trade union leader as saying.

TCS: Tata Consultancy Services (TCS) on Monday said it has hired over 7,000 employees in the UK over the last five years, making it among the top recruiters of IT services talent in that country.

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