Stocks in Focus on April 17: TCS, Coal India to Cadila/IPCA; here are the 5 Newsmakers of the Day

At the stock markets, the Sensex at the Bombay Stock exchange climbed 223 points, or 0.7 per cent, to 30,603 Thursday, April 16, 2020. The Nifty at the National Stock Exchange advanced 68 points, or 0.8 per cent, to end at 8,993. The broader market outperformed the Sensex, with the BSE Midcap index rising 1.4 per cent and the Smallcap index adding 1.7 per cent. But certain stocks came in news after the market was closed and can impact the indices when it reopens on Friday, April 17, 2020. List of such five stocks:

Tata Consultancy Services (TCS): India's largest software exporter TCS has reported March quarter results on Thursday and reported a 0.8 per cent quarter-on-quarter (QoQ) fall in profit to Rs 8.049 crore from Rs 8,118 crore reported in December quarter. Revenue of the March quarter inched up by 0.2 per cent to Rs 39,946 crore against Rs 39,854 crore on December quarter (Analysts in Zee Business had projected the figure at Rs 40,401 crore). The quarter revenue growth was led by life sciences & healthcare, which grew by 16.20 per cent against 17.10 per cent of December quarter. BFSI revenue declined 1.30 per cent, Retail and CPG grew 4.20 per cent and manufacturing grew by 7 per cent.

Besides, the board recommended a final dividend of Rs 6 per share. Apart from this, the software exporter said it will not retrench any of its nearly 4.5 lakh employees, but has decided not to give any salary hikes this year. The Tata group company said it will honour each of its commitments on new hires by taking all the 40,000 people who have been given offers onboard, unlike some other blue-chip companies that are reportedly having a relook.

Coal India: The organisation has decided to auction 60 per cent of its inventory - which touched a record 75 million tonnes in March - by May 2020.

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Tata Motors: Credit rating agency Fitch Ratings downgraded Tata Motors to long-term issuer default rating ‘B’ from ‘BB-’ with a negative outlook on Thursday. The rating was downgraded by citing low expectation for the automaker’s profitability and cash flows over the next few years due to the effects of the coronavirus pandemic. 

Banks in Focus: The Reserve Bank of India (RBI) will conduct the fourth tranche of targeted long-term repo operation (TLTRO) of three-year tenor today, April 17, 2020, to inject Rs 25,000 crore liquidity into the banking system. The central bank announced TLTRO on March 27 and has so far done three tranches worth Rs 75,000 crore. The initial target is Rs 1 lakh crore.

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Cadila/IPCA: These two companies will be in focus today as India has decided to supply anti-malarial hydroxychloroquine to 55 coronavirus-hit countries as grants as well as on a commercial basis.