Stocks in Focus on October 10: TCS, Tata Steel to REL; here are the 5 Newsmakers of the Day

Tata Consultancy Services or TCS, Tata Steel, Biocon, Religare Enterprises and NCC are the five stocks that are expected to remain newsmakers throughout the day.

Certain stocks came in news after the market was closed yesterday and can have an impact on the indices when it reopens today. Photo: Reuters

Domestic indices on Thursday, October 10, 2019 fall amid mixed global stocks and selling in bank, financial and auto stocks. But, certain stocks came in news after the market was closed for trading and can have an impact on the indices when it reopens on Friday, October 11, 2019. Here is a list of five such stocks:

Tata Consultancy Services (TCS): IT major TCS on Thursday reported that its consolidated revenues grew by 2.1% to Rs38,977 crore in the July-September quarter, against Rs38,172 crore. Its consolidated profit fell by 1.1% to Rs8,040 crore, against Rs8131 crore. TCS’ (EBIT) operating margins for the quarter stood at 24.2%, while net margins came in at 20.6 per cent. Digital revenues grew 28%, making up for 33% of overall revenues for the quarter. The UK grew 13.3% year-on-year, continental Europe grew 16% and the life sciences vertical grew 16% YoY. It grew by 5.3 per cent in the US and 8 per cent in BFSI. Besides, TCS has announced to give out Rs40 per share special dividend along with a regular Rs5 dividend this quarter. The statement comes after the government announced a 20 per cent tax on share buyback. TCS said its capital allocation mechanism will be optimised depending on the regulatory framework. TCS hired a net 14,097 employees in the quarter, the highest ever on-board in a quarter. This took the total employee count to 450,738 at the end of the quarter.

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Tata Steel: Tata Steel India's 2QFY20 sales volume increased by 5% QoQ primarily with better volumes at TSBSL. Tata Steel India's Crude Steel production was flat on a QoQ basis. Tata Steel Europe's 2QFY20 production volume was lower primarily with adjustments related to weaker market conditions planned summer shutdowns and unplanned outages; sales volume was flattish on a QoQ basis.

See Zee Business tweet below:

#EditorsTake | अगर शेयर बाजार में लगा है आपका पैसा तो क्या है आपके आधिकार?
ब्रोकर के पास फेंसे पैसे कैसे मिलेंगे वापिस जानें अनिल सिंघवी से...#JaagoInvestorJaago @AnilSinghvi_ pic.twitter.com/VUKhQ584tR

— Zee Business (@ZeeBusiness) October 11, 2019

Biocon: Biocon Biologics have entered into a strategic licensing agreement with Just - Evotec Biologics for an early-stage, pre-clinical biosimilar asset. Biocon Biologics is a wholly-owned subsidiary of Biocon and Just - Evotec Biologics is wholly owned by Evotec.

Religare Enterprises (REL): Economic Offences Wing (EOW) of the Delhi Police on Thursday arrested Shivinder Mohan Singh, the erstwhile promoter of Religare Enterprises (REL) and the Fortis Healthcare hospital chain, along with three others. This followed a complaint of fund misappropriation at Religare Finvest Ltd (RFL), the lending arm of REL, to the tune of about Rs 2,400 crore. The EOW is on the lookout for his brother Malvinder Mohan Singh.

See Zee Business tweet below:

अगर बाजार में लगा है आपका पैसा
हर निवेशक के हक की बात
ब्रोकर में फंसा पैसा, तो क्या करें
10:26 am पर अनिल सिंघवी के साथ#JaagoInvestorJaago pic.twitter.com/InZDsk32Pj

— Zee Business (@ZeeBusiness) October 11, 2019