Stocks to watch: TCS, Wipro, Future Ent, IDBI Bank, Adani Green, ONGC, NHPC

Stocks to watch today: Canara Bank plans to raise up to Rs 3,500 crore through tier II bonds; TCS clarified that it would pay 100 per cent of variable payout in the June quarter of FY23.

Stocks to watch today: Markets are likely to open on a positive note amid strong global cues. As of 7.20 am, the SGX Nifty Futures quoted 17,687 levels, up 83-odd points on the Nifty50.
 

Globally, the US markets broke three-day slump on Wednesday as investors await Jackson Hole Symposium. Dow Jones climbed 0.1 per cent, while the S&P 500 surged 0.2 per cent, and NASDAQ Composite rose 0.4 per cent.
 

Asia-Pacific markets, too, rose in tandem on Thursday’s trade as Nikkei 225, Kospi, S&P 200 rose up to 0.5 per cent.
 

Meanwhile, back home, here is a list of stocks that may see action in trade on Thursday:
 

TCS: The IT behemoth assured that it would pay 100 per cent of variable pay for its 6 lakh plus employees for the June quarter of this fiscal. The clarification comes days after reports surfaced that TCS delayed the June variable compensation payout by a month for some employees. So far, around 90 per cent of TCS employees have received the variable payout, said the management. READ MORE

Canara Bank: The public sector lender plans to raise up to Rs 3,500 crore through tier II bonds in tranches to meet capital adequacy ratio and growth requirements. The first tranche of tier II bonds will hit markets on Thursday, August 25 with a primary issue size of Rs 1,000 crore. READ MORE

Future Enterprises: Another setback for the debt-ridden company as second plea was filed by the operational creditor before the Mumbai bench of the National Company Law Tribunal (NCLT). The latest petition is filed against Future Enterprises by Retail Detailz India, claiming default of Rs 4.02 crore before the NCLT. READ MORE

IDBI Bank: According to media reports, the government is considering to sell 51 per cent stake of the state-run bank. That apart, the authorities plan to sell at least some of the government and LIC’s stakes in IDBI Bank and cede management control. READ MORE

ONGC: The refinery firm has relaunched a tender to sell gas from its KG fields at $15 per mmBtu as it aims to capitalize on surge in global energy prices. According to the tender, the firm has sought bids for the sale of 0.75 million standard cubic meters per day of gas for one year from the KG-DWN-98/2 (KG-D5) fields in the Bay of Bengal. READ MORE

Adani Green Energy: As per reports, the company has seen its debt-to-equity ratio zoom to second-highest in Asia, raising a red flag if the billionaire’s aggressive expansion plans has over-leveraged his businesses. Bloomberg data shows that the Gujarat-based company’s debt-to-equity ratio of 2,021 per cent is only behind China’s Datang Huayin Electric Power Company, which has a ratio of 2,452 per cent. READ MORE

Titan: Markets regulator Sebi imposed penalty amounting to Rs 8 lakh on eight individuals for violation of insider trading norms in the shares of Titan Company. The transactions were carried out by the designated persons or employees of Titan between April 2018 and March 2019.
 

Wipro: The IT services provider has appointed Wagner Jesus as the Country Head and Managing Director for operations in Brazil. Jesus joined Wipro three years prior, taking the lead of the non-financial business cluster. 
 

Bandhan Bank: MD and CEO Chandra Shekhar Ghosh said that the bank will open 551 more branches in the 2022-23 fiscal in order to make its distribution stronger in other parts of India outside the eastern region. The bank will also expand its product portfolio, having recently added mutual funds to the lender's list of offerings.
 

Barbeque-Nation Hospitality: Credit rating agency ICRA upgraded credit rating for the bank facilities of Rs 15.50 crore of the company to A (Stable) whereas, the rating was upgraded to A2+ for Rs 5 crore bank facilities. 
 

PSP Projects: The company bagged contracts worth Rs 247.35 crore from precast and the government segments. With this, the total order inflow for the current financial year 2022-23 stands at Rs 1,344.24 crore.
 

NHPC: The company’s subsidiary NHPC Renewable Energy (NHPC REL) and the Government of Rajasthan have signed deal to set up 10 gigawatt (GW) ultra mega renewable energy power for development of ultra mega renewable energy power parks in Rajasthan. 
 

Lupin: The pharma major received approval from the USFDA for Formoterol Fumarate Inhalation Solution to treat chronic obstructive pulmonary disease. 
 

Stocks in F&O ban: RBL Bank was banned in the F&O ban period on Thursday, August 25.