Stocks to watch today: Here is a list of top stocks that are likely to be in focus in Wednesday's trading session based on latest developments. Investors are also awaiting April-June quarter earnings that are scheduled to be released today. Companies set to announce their earnings are Indraprastha Gas, Gillette India, Gujarat Mineral Development Corporation, Dolat Investments.
Bajaj Auto, Hero Motocorp, Eicher Motors, TVS Motors: Finance Minister Nirmala Sitharaman on Tuesday said the Goods and Services Tax (GST) Council would look into the auto industry's demand for lowering the tax rate on two-wheelers, which are now taxed at the highest slab rate of 28%.
Tata Consultancy Services (TCS): S&P Global Ratings has revised its outlook on the IT major to stable from positive given the subdued global IT spending estimates.
State Bank of India (SBI): Moody's Investors Service has downgraded lender's baseline credit assessment (BCA) by one notch from ba1 to ba2 citing an expected deterioration in asset quality and profitability.
Punjab National Bank: The lender has received over Rs 24 crore as the first tranche of recoveries from bankruptcy proceedings of three Nirav Modi-promoted companies in the US, as per Ministry of Corporate Affairs.
JMC Projects: The engineering firm has secured new orders worth Rs 554 crore.
Jammu & Kashmir Bank: The Board of Directors of the state-owned lender will meet on August 28, as the company plans to raise up to Rs 4,500 crore in the current fiscal.
Procter & Gamble Hygiene and Health Care (P&G): The company reported a 13.85% rise in its net profit at Rs 69.21 crore for the quarter ended June, as against a net profit of Rs 60.79 crore in the year-ago quarter.
Birla Tyres: The company's board will meet on August 28 (Friday) to consider capital raising options for an amount aggregating up to Rs 1,100 crore by way of equity or debt instruments, including non-convertible debentures, among others.
Ircon International: The State-owned engineering and construction firm reported a consolidated net profit of Rs 34.46 crore for the quarter ended June, as against Rs 144.66 crore in the corresponding period a year ago.
Tata Motors: Company's chairman N Chandrasekaran said on Tuesday that the auto major will significantly reduce its group automotive debt of Rs 48,000 crore to near zero levels over the next three years.
Earnings Today: Indraprastha Gas, Gillette India, Gujarat Mineral Development Corporation, Dolat Investments, NACL Industries and Sharda Motor Industries are among companies which will disclose their Aptil-June quarter results today.