TCS, Axis Bank among 5 stocks hogging limelight today

The Sensex and Nifty are expected to open lower on Wednesday as Asian markets tumbled after US president Donald Trump imposed tariffs on an additional $200 billion worth of Chinese goods with China’s markets leading the declines, as trade tensions between the world’s two biggest economies continued to deteriorate.

At 7:45 am, SGX Nifty was trading at 10,932.50, down 25.50 points or 0.23 per cent.

The United States had just imposed tariffs on $34 billion worth of Chinese goods on Friday, drawing immediate retaliatory duties from Beijing on US imports in the first shots of a heated trade war. 

Here are key stocks in focus today:

Tata Consultancy Services: The country's largest software exporter TCS on Tuesday posted a 23.4 per cent rise in consolidated net profit to Rs 7,340 crore for the first quarter ended 30 June, 2018. The company had reported a net profit of Rs 5,945 crore in the same period previous fiscal, TCS said in a regulatory filing.

PNB Housing Finance: Punjab National Bank (PNB) and Quality Investment Holdings (The Carlyle Group) have announced regarding sale of minimum 51% stake in PNB Housing Finance Limited to the potential acquirers. As on date, PNB owns 32.79% and Quality Investment Holdings owns 32.36% of the paid up equity share capital of the Company.

Tata Motors: Tata Motors said that it has bought 26 per cent stake in TruckEasy, a tech-based freight aggregator, marking its first investment in a start-up. It did not disclose the deal value. The investment is being done through Tata Motors Finance Holdings, a wholly-owned subsidiary of the company, Tata Motors said in a statement.

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Axis Bank: Axis Bank said it has shortlisted three candidates to succeed the MD & CEO Shikha Sharma, whose term is due to expire in December this year. The bank, however, did not disclose names of the candidates shortlisted for the post.

Bharti Airtel: Bharti Airtel said the National Company Law Tribunal (NCLT) has cleared a scheme of arrangement between the company and Bharti Digital Networks, previously known as Tikona Digital Networks. The scheme is now awaiting the approval of the Telecom Department.