Stocks to watch: SBI, TCS, VA Tech Wabag, oil-linked stks, Can Fin Homes

At 08:29 AM, Nifty futures on the Singapore Exchange (SGX) were trading 27 points or 0.24 per cent higher at 11,503.50, indicating a flat-to-positive start for the Indian market on Wednesday. 

Here's a list of stocks that may trade actively in today's trading session

SBI: Rating agency Moody’s has downgraded State Bank of India’s (SBI’s) baseline credit assessment (BCA) from “ba1” to “ba2” as the economic shock from the Covid-19 pandemic may aggravate the weakening borrowers’ credit profiles. It would hurt asset quality of India banks. The agency affirmed SBI’s Baa3 deposit ratings. READ MORE

TCS: S&P Global Ratings on Tuesday said Tata Consultancy Services (TCS) is likely to face slower growth in revenue and profitability over the next 12-18 months, given subdued global information technology (IT) spending.

Financial stocks may remain volatile as the Supreme Court is expected to hear the interest waiver case later today.

Oil-linked stocks may trade actively today as the crude oil prices rose to a five-month high on Tuesday as US producers shut most offshore output in the Gulf of Mexico ahead of Hurricane Laura even as rising coronavirus cases in Asia and Europe capped gains.

Earnings today: A total of 31 companies, including Indraprastha Gas and Gillette India, are scheduled to announce their June quarter results today.

VA Tech Wabag on Tuesday announced a preferential issue of equity shares aggregating to Rs 120 crore to marquee investors and high net worth individuals such as Rekha Rakesh Jhunjhnwala and others. Basera Home Finance would also be participating.

Two-wheeler manufacturers such as TVS Motor, Hero MotoCorp, and Eicher Motors: Finance Minister Nirmala Sitharaman Tuesday said the GST Council would look into the auto industry’s demand for lowering the tax rate on two-wheelers, which are now taxed at the highest slab rate of 28 per cent. According to sources, the issue might be taken up in the council's September 17 meeting.

Birla Tyres: The company's board will meet on August 28 (Friday) to consider capital raising options for an amount aggregating up to Rs 1,100 crore by way of equity or debt instruments, including non-convertible debentures, among others, Birla Tyres said in a regulatory filing.

Power Grid Corporation on Tuesday said it has inked a Memorandum of Understanding (MoU) with ACTREC for construction of an operation theatre complex in Navi Mumbai.

Can Fin Homes: Net profit of Can Fin Homes rose 15.04 per cent to Rs 93.16 crore in the quarter ended June 2020 as against Rs 80.98 crore during the previous quarter ended June 2019. 

JMC Projects: The company has secured new orders of Rs 554 crore.

Acrysil Limited announced its capital expenditure plan of nearly Rs 15 crore. The investment is for expansion of capacities to manufacture Quartz Sinks by 100,000 units per annum.

Ircon International: State-owned engineering and construction firm Ircon International Ltd on Tuesday reported a consolidated net profit of Rs 34.46 crore for the quarter ended June. It had clocked a consolidated net profit of Rs 144.66 crore in the corresponding period a year ago, it said in a regulatory filing.