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By Asmita Pant Aug 16, 2023 6:35:55 AM IST (Published)
SUMMARY
Here are the top stocks to watch out for in the trade on Wednesday:
1 / 7Interglobe Aviation | The Rakesh Gangwal family may sell shares up to $450 million (Rs 3,735 crore), the parent company of IndiGo airlines, via a block deal on August 16, sources told CNBC-TV18.
2 / 7ITC Ltd | The diversified entity reported a 17.6 percent year-on-year jump in standalone net profit at Rs 4,902.7 crore for the quarter ended June 2023. The standalone total revenue for the quarter under review came at Rs 15,828.2 crore, down 8.5 percent from Rs 17,289.7 crore in the year ago period. The conglomerate's board also approved the demerger of the hotel's business.
3 / 7Hero MotoCorp Ltd | The country's largest two-wheeler maker said Sunil Munjal has exited the management and let go of control of the company, including any position held as joint managing director.
4 / 7Infosys Ltd | The IT major Infosys and Liberty Global plc have recently announced a significant five-year agreement valued at $1.64 billion, with the provision to extend up to eight years and beyond.
5 / 7Ashok Leyland | The commercial vehicles maker said its board approved the acquisition of 100 percent of Ohm Global Mobility Private Ltd from OHM International Mobility Ltd for a nominal consideration of Rs 1 lakh.
6 / 7Vodafone Idea Ltd | The debt-ridden telecom operator reported a net loss of Rs 7,840 crore for the quarter ended June 2023. Additionally, the company received communication from a promoter group entity promising financial support of up to Rs 2,000 crore if required to meet payment obligations.
7 / 7Pennar Industries Ltd | The value-added engineering products and solutions company received orders worth Rs 702 crore across various business verticals.
Stocks to watch: IndiGo, ITC, Hero Motocorp, Infosys and more - CNBCTV18
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