The I.T. major has informed the exchanges that it has partnered with TPT South Africa for pioneering its logistics supply chain transformation.

TPT or Transnet Port Terminals is a state-owned freight transport and handling company. TCS will help TPT develop an integrated online marketplace platform by bringing together cargo owners, shipping lines, clearing and forwarding agents, the exchange filing said.

The Cargo Connect marketplace is expected to be ready in the next 12 months.

Shares are at the day's high, gaining as much as 2.1% to Rs 2,337.9. The stock is trading at a record high.

• Revenue down 34% to Rs 1,380 crore
• Net profit down 83% to Rs 16.6 crore
• Ebitda down 40% to Rs 128.7 crore
• Ebitda margin at 9.3% from 10.3%
• Chemicals segment revenue down 17% to Rs 768.5 crore
• Aluminium segment revenue down 37% to Rs 930.6 crore
• Power and Fuel costs down 10% to Rs 634.5 crore

Brokerages however are divided on the prospects of the stock going forward. Antique stock broking has maintained its buy rating on the stock with a price target of Rs 44, citing its long alumina position and integrated business model.

However, Emkay has maintained its sell rating on the stock with a price target of Rs 30, citing a cloudy outlook beyond the third quarter of FY21.

Shares fell as much as 2.75% to Rs 35.3 and are down for the second straight day.

• Worst performer on the Nifty 50 index
• Declines as much as 3.5% to Rs 490.8
• Biggest single-day drop in a month
• Down for the second straight day
• Has declined in five out of the last six trading sessions
• Heading towards its 200 and 50-Day Moving Average at 471 and 470
• Today's volumes are on-par with its 20-day average
• Has doubled from its 52-week low of Rs 240 on March 23, 2020 but remains 20.5% below its 52-week high of Rs 617 on November 5, 2019
• 32 out of the 35 analysts tracking the stock have a buy recommendation; 1 sell call
• Return potential of the stock as per Bloomberg data is 19.1%

India's shrinking economy is not stopping foreign investors from pouring money into the country's stocks, betting on a recovery, Bloomberg News reports.

Foreign buyers plowed in a net $6 billion into Indian shares in August - the most since March last year. That is compared to all other markets in the region which saw outflows from foreign investors.

Foreign investors also invested in share sales by some large financial institutions like ICICI Bank, Axis Bank and HDFC.

"We place India at the top of the list with China for investment returns over the next 12-24 months," Nuno Fernades of GW&K Investments told Bloomberg.