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TCS, Infosys, Wipro, Voda Idea, Bharti Airtel, SpiceJet, Future Retail, DLF, Tata Teleservices stocks in focus – The Financial Express

Domestic equity market benchmarks BSE Sensex and Nifty 50 were set to open higher on Wednesday, as suggested by trends on SGX Nifty in early trade.

Domestic equity market benchmarks BSE Sensex and Nifty 50 were set to open higher on Wednesday, as suggested by trends on SGX Nifty in early trade. Nifty futures were trading 125 points or 0.7 per cent up at 18216 on Singaporean Exchange. In the previous session, bulls managed to sustain grip on Dalal Street and ended the volatile session in green for the third straight day. BSE Sensex closed 221 points or 0.37 per cent higher at 60,617, while Nifty 50 settled at 18,056 levels, up 52.45 points or 0.29 per cent. Chartists say that the upside with range bound action in the market is likely to continue. “Having placed at the crucial overhead resistance of around 18200 levels, there is a possibility of further volatility and range movement for the next 1-2 sessions. Eventually, the market could break above the said resistance in the near term. Immediate support is placed at 17950 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.

Stocks to watch

Tata Consultancy Services: TCS board will release third quarter, and nine months ended 31 December 2021 results on Wednesday. The board will also consider the third interim dividend. The company also informed that its board of directors will consider a proposal for buyback of equity shares at its meeting to be held on January 12. This will be the fourth buyback by the company in at least six years.

Infosys: Infosys is likely to post up to 4 per cent revenue growth in constant currency terms in the October-December quarter of FY22, said analysts. Also, analysts were mixed on margins and see improvement in guidance.

Wipro: Wipro is likely to post up to 5 per cent revenue growth in constant currency terms in October-December quarter of FY22, said analysts. The company will release its quarterly earnings along with Tata Consultancy Services (TCS) and Infosys on Wednesday.

Vodafone Idea: Vodafone Idea’s board on Tuesday informed the department of telecommunications (DoT) that it will opt for converting the interest on adjusted gross revenue (AGR) and spectrum dues into government equity. Once the plan goes through over a period of four years, the government will become the single largest shareholder in the company with a stake of 35.8%.

Bharti Airtel, Voda-Idea, RIL: Telecom operators have sought to Trai that the reserve price for the 5G spectrum be cut down by more than 90% for the upcoming auction, with no upfront payment and a moratorium of 5-6 years. The amount of spectrum can be recovered over 24 years after the moratorium period.

SpiceJet: The Madras High Court on Tuesday dismissed the appeal by SpiceJet against the single-judge order to wind up the low-cost airline on a Credit Suisse AG’s petition relating to non-payment of $24 million to SR Technics, a maintenance and repair company.

Tata Teleservices: After Vodafone Idea, Tata Teleservices (Maharashtra) on Tuesday said it will opt for conversion of the interest amount on AGR dues into equity and post conversion, the government’s holding in the company is expected to be around 9.5 per cent.

Future Retail: The Supreme Court on Tuesday reserved its order on Future Retail’s plea seeking nod to go ahead with the regulatory approvals for its Rs 24,713-crore merger deal with Reliance Retail.The bench led by Chief Justice NV Ramana while reserving its order orally observed that it would not go into the issue, but will ask the Delhi High Court to decide the matter finally.

DLF: Realty major DLF Ltd on Tuesday said it has sold properties worth Rs 1,500 crore in its newly launched housing project at Moti Nagar in the national capital, reflecting strong demand for luxury apartments.On Friday, DLF launched its luxury housing project ‘ONE Midtown’ comprising 913 units, at Shivaji Marg in Moti Nagar, with a starting price of Rs 3 crore.

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