Tata Steel, PFC, Wipro, Sun Pharma in focus

Trends on the Singapore stock exchange indicates that the Nifty could rise 49 points at the opening bell. Overseas, Asian stocks are mostly trading higher on Friday following overnight gains for tech stocks stateside as the Nasdaq Composite rebounded. In US, the S&P 500 and Nasdaq rebounded from two days of declines on Thursday as beaten-down chipmakers led gains, but losses in Walt Disney due to slowing subscriber growth in its streaming video service weighed on the Dow. Here is the list of stocks that could be in focus in today’s trade.

Tata Steel: The steel major reported a 661.34% surge in consolidated net profit to Rs 11918.11 crore on 56.45% rise in total income to Rs 61459.04 crore in Q2 FY22 over Q2 FY21.

Power Finance Corporation: PFC reported a 17.1% rise in consolidated net profit to Rs 5023.42 crore on a 6.09% rise in total income to Rs 19282.60 crore in Q2 FY22 over Q2 FY21.

NMDC: The mining major reported a 202.72% rise in consolidated net profit to Rs 2338.63 crore on 196.83% rise in total income to Rs 6882.44 crore in Q2 FY22 over Q2 FY21.

Zee Entertainment Enterprises: ZEEL reported 101.56% rise in standalone net profit to Rs 326.28 crore on 14.89% rise in total income to Rs 1857.42 crore in Q2 FY22 over Q2 FY21.

Indiabulls Housing Finance: The company reported a consolidated net profit of Rs 286.34 crore in Q2FY22 against Rs 323.2 0crore in Q2FY21. Total income stood at Rs 2233.08 crore in Q2FY22 from Rs 2581 crore in in Q2FY21.

Wipro: The IT major unveiled Click-Shift-Drive, a contactless car-buying solution that addresses the complete automobile-buying journey. Scalable, flexible and rapidly deployed, the end-to-end solution enables automakers and dealers to offer everything from research and loan approval to purchase and delivery at a time when 50% of car-buying journeys begin online.

Sun Pharmaceutical Industries: The pharma company is gearing up to introduce Merck Sharpe Dohme (MSD) and Ridgeback’s molnupiravir under the brand name Molxvir in India.

Tata Power Company: The electricity generator and distributor said that Moody’s Investors Service has upgraded its rating on the company to ‘Ba2’ with a ‘stable’ outlook from ‘Ba3’ with a ‘stable’ outlook.

RailTel Corporation of India: The company said that the Content on Demand (COD) contract awarded to Margo Networks for providing COD service in all Mail/Express and Suburban trains and all Wi-Fi enabled Railway Stations on a build-own-operate (BOO) basis for 10 years has been terminated by the company due to non-performance by the contractor.