Stocks in news: Tech Mahindra, Bajaj Finance, Bharti Airtel, Axis Bank, HDFC Bank and more

Indian benchmark indices are likely to open on a flat to higher note today amid positive global cues.

Benchmark indices ended higher on Monday, tracking gains in index majors ICICI Bank, Axis Bank and SBI amid a largely positive trend in global markets.

Sensex closed 145.43 points higher at 60,967 and Nifty advanced 10.50 points to 18,125.40.

Foreign institutional investors (FIIs) sold shares worth Rs 2,459 crore on October 25, and domestic institutional investors (DIIs) bought shares worth Rs 2,390 crore, as per provisional data available on NSE.

Here are the stocks that are likely to be in focus today.

Tech Mahindra: The company reported profit at Rs 1,338.7 crore in Q2FY22 against Rs 1,353.2 crore in Q2FY21, revenue rose to Rs 10,881.3 crore from Rs 10,197.6 crore QoQ.

Bharti Airtel: After Vodafone Idea, telecom major Bharti Airtel has also deferred the payment of spectrum auction instalments due up to four years. The company has also deferred the AGR-related dues by four years.

"With reference to the notification dated October 14, 2021 issued by the Department of Telecommunications (DoT) to the Company, we wish to inform you that the Company has confirmed to avail the following options: a) deferment of the payment of spectrum auction instalments due upto four years; and b) deferment of AGR related dues by a period of four years with immediate effect," Airtel said in a stock exchange filing.

Tata Power: The company said it now has a network of more than 1,000 electric vehicle (EV) charging stations across the country.

This network of 1,000 public charging stations provides innovative and seamless EV charging experiences for Tata Power's customers across offices, malls, hotels, retail outlets, and places of public access, enabling clean mobility and freedom from range-anxiety, it said in a statement.

In addition, there are close to 10,000 home EV charging points, which make EV charging super-convenient for the vehicle owners, the company added.

HDFC Bank: Competition Commission of India (CCI) approved private lender HDFC Bank's acquisition of 4.99 per cent shareholding in HDFC ERGO General Insurance Company.

HDFC ERGO General Insurance Company is a joint venture between HDFC and European insurer ERGO International AG. The venture provides general insurance products such as motor insurance, travel insurance, health insurance and personal accident insurance in the retail space. Other than that, they provide property, marine and liability insurance in the corporate space.  

Mindtree: The company announced an expanded relationship with ServiceNow, the leading digital workflow company that makes work, work better for people. As a partner for ServiceNow® Connected Operations, a proactive system of action for IoT, Mindtree will build industry solutions to help enterprises turn data from their Internet of Things (IoT) infrastructure into actionable business workflows.

Tata Group: The government on Monday signed the share purchase agreement with Tata Sons for disinvestment of Air India. Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said in a tweet, "Share Purchase Agreement signed today by Government with Tata Sons for strategic disinvestment of Air India."

Talace Pvt Ltd, a wholly-owned subsidiary of Tata Sons had, earlier this month, emerged as the successful bidder to buy out the government's share in the airline. Pandey had said in press conference then that there were seven bidders in the second round, out of which five were disqualified.

Axis Bank, Kotak Mahindra Bank, Bajaj Finance, Cipla, Ambuja Cements, Canara Bank, among others, will release their September quarter earnings today.