The domestic stock markets are likely to open higher on Monday, following positive global cues. At 7:00 am, the SGX Nifty futures were trading at 14,476.00, higher by 99.50 points or 0.69 per cent. In Friday’s session, the S&P BSE Sensex had rallied over 750 points and Nifty 50 index had climbed above 14,350 on the back of a broad-based buying interest.
Stocks To Watch: TCS, Vedanta, Avenue Supermarts
Tata Consultancy Services (TCS)
The IT major reported a 7.2 per cent growth in profit at Rs 8,701 crore in the third quarter on higher demand for cloud computing. The company said its revenue from the banking and finance industries jumped 7.6 per cent year-over-year to Rs 16,655 crore in the December quarter.
Vedanta promoters announced an open offer to acquire 37.2 crore equity shares, representing 10 per cent equity stake in the company, at Rs 160 per share. The offer is made at a 12 per cent discount to Friday’s closing price.
Avenue Supermarts reported a rise of 16.4 per cent in consolidated net profit at Rs 446.95 crore in Q3FY21 as against Rs 384.01 crore on a year-on-year basis. The revenue from operations increased 10.77 per cent to Rs 7,542 crore from Rs 6,808.93 crore.