Stocks in focus on October 5, 2020

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New Delhi: The BSE, the NSE, forex, money and bullion markets were closed on Friday on account of Gandhi Jayanti.

The Sensex vaulted 629 points while the Nifty recaptured the 11,400-mark on Thursday as positive macroeconomic data. The 30-share BSE Sensex soared 629.12 points or 1.65 per cent to close at 38,697.05, led by banking and finance stocks. The broader NSE Nifty advanced 169.40 points or 1.51 per cent to finish at 11,416.95.

Here are Stocks in focus on October 5, 2020

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IGL

CNG and piped cooking gas price in the national capital and adjoining cities was on Saturday cut in sync with a reduction in natural gas prices. Indraprastha Gas Ltd in a statement said the CNG price in Delhi will be reduced by Rs 1.53 per kg in Delhi and by Rs 1.70 per kg in Noida, Greater Noida and Ghaziabad.

TCS 

India’s largest IT services firm Tata Consultancy Services” board will meet later this week to consider a share buyback proposal. No other details of the buyback plan were disclosed. The board is also slated to consider its financial results for the September quarter and declaration of a second interim dividend to the equity shareholders at that meeting. In 2018, the Mumbai-based company had undertaken a share buyback programme worth up to Rs 16,000 crore. The buyback, at Rs 2,100 per equity share, had entailed up to 7.61 crore shares. In 2017 too, TCS had undertaken a similar share purchase programme.

SAIL 

State-run steel maker SAIL is exploring new markets for the sourcing of coking coal with a view to reducing dependence on select countries for the raw material, its chairman Anil Kumar Chaudhary said. According to official data, the country imports about 56 million tonne (MT) of coking coal worth around Rs 72,000 crore. Out of this, about 45 MT is imported from Australia alone, and the remaining from South Africa, Canada and the US.

Vedanta 

Anil Agarwal-led natural resources company Vedanta Ltd has reported a 23.5 per cent drop in its consolidated net profit for the quarter ended June of the current financial year (2020-21). Its consolidated net profit during the April-June quarter was Rs 1,033 crore, against Rs 1,351 crore reported during the same period of the previous financial year, the company said in a regulatory filing.

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