Stocks in the news: Axis Bank, Reliance Industries, IDFC First Bank, Hexaware and NLC India

NEW DELHI: Nifty futures on the Singapore Exchange traded 43.75 points or 0.46 per cent higher at 9,460, indicating a positive start for Dalal Street. Here are a few stocks which may buzz the most in Wednesday's trade:

Axis Bank: Axis Bank on Tuesday posted a net loss of Rs 1,387.78 crore for the quarter ended March 31 against a net profit of Rs 1,505.06 crore in the same period last year.

Tata Steel: Tata Sons, the holding company of salt-to-software Tata Group, has refused to commit any further funds to support Tata Steel’s loss-making UK and Europe subsidiaries.


IDFC First Bank: IDFC First Bank is considering a $200 million share sale to bolster its capital, people familiar with the matter said, as the lockdown in India raises the risk of loan defaults. The private-sector lender is waiting for the five-week lockdown to end.

Hexaware: The IT firm will report its March quarter results on Wednesday.

Biocon: Biotechnology major Biocon and drug firm Mylan announced the launch of Fulphila , a biosimilar pegfilgrastim, in Canada after getting approval from the health regulator.

Reliance Industries: Rating agency firm Standard and Poors (S&P) on Tuesday affirmed its BBB+ long-term corporate credit rating on Reliance Industries Limited (RIL) with a stable outlook.

Rallis India: A subsidiary of Tata Chemicals said it has resumed operations at its plants from April 27 after completing critical maintenance jobs.

Larsen & Toubro: Engineering and construction conglomerate it has raised Rs 2,500 crore through issuance of non-convertible debentures (NCDs).

PNB Housing: PNB Housing Finance said it has appointed Neeraj Vyas as its interim Managing Director and CEO. The term of incumbent Sanjaya Gupta comes to an end on May 4.

PNB: At a time when several banks and most shadow lenders are conserving cash, public sector banks such as Punjab National Bank (PNB) are offering top-up loans to their existing customers. Caveat emptor: They must not avail of the threemonth repayment moratorium.

Tech Mahindra: Nomura has upgraded Tech Mahindra to buy from neutral and reduced target price to ₹640 from ₹820. The brokerage has upgraded the stock after a 40% correction from its peak on February 19, versus a fall of 20% in Nifty IT over the same period.

Supreme Industries: ICICI Securities has downgraded Supreme Industries to sell from hold with a target price of ₹933. The stock is not pricing in near-term concerns, the brokerage said.

NLC India: State-run NLC India commenced production of coal for the first time on Monday in the state of Orissa.