Top 10 stocks for today

8 Jul 2022 , 08:21 AM

Here are the top 10 stocks with major news in them and the potential to move the markets:

1. Alkem Laboratories:

The company reported that after examining its facilities in Indore, Madhya Pradesh, the US health authorities issued Form 483 with one observation. According to the USFDA, Form 483 is generated whenever an investigator discovers a situation that contravenes the Food, Drug, and Cosmetic Act (FD&C Act) and associated Acts.

1. Tata Power:

The corporation wants to have an electricity generation capacity of 30 GW over the next five years, with more than half originating from sustainable energy sources, and plans to invest over Rs75,000 crore in renewables over that period.

1. InterGlobe Aviation:

As aviation travel recovers, IndiGo will respond to pilot calls to restore compensation to pre-Covid levels by raising pilot salary by 8%, starting in August.

1. Bank of Baroda:

The bank is considering raising money by selling long-term bonds, to increase lending to infrastructure and affordable housing sectors.

1. Tata Consultancy Services:

TCS, a significant player in the IT industry, is expected to post a June quarter profit increase of 7—11% YoY and a nearly 15% year-over-year (YoY) increase in revenues. Even though the margin may suffer due to salary increases, its effect may be offset by high demand.

1. Tata Motors:

The UK division of the automaker, Jaguar Land Rover, reported a 37% drop in retail sales at 78,825 units in the quarter that ended in June. This was due to a scarcity of semiconductors, COVID-19 lockdowns in China, and the transition to the new Range Rover Sport model.

1. Dr Reddy’s Laboratories:

After visiting its production site in Srikakulam, Andhra Pradesh, the US health regulator issued Form 483 with two observations.

1. Vedanta:

Athena Chhattisgarh Power, which is heavily indebted, would be purchased by Vedanta for Rs564.67 crore. The company’s liquidation procedure began in March of last year.

1. Axis Bank:

Axis Bank, a private sector lender, and the Indian Air Force (IAF) have inked a memorandum of understanding to administer the defence personnel’s wage accounts.

1. JK Tyres:

Anuj Kathuria has been named president of JK Tyre & Industries (India). Kathuria, a veteran of the automotive sector with 31 years of experience, will answer to Raghupati Singhania, Chairman & Managing Director, and Anshuman Singhania, Managing Director, according to a statement from the firm.