Stocks to watch: IT stks, Cipla, RIL, TCS, Tata Coffee, Mahindra & Mahindra

At 08:47 AM, Nifty futures on the Singapore Exchange (SGX) traded 68.5 points, or 0.63 per cent higher at 10,908.50, indicating a positive start for the Indian market on Friday. 

Here's a list of stocks that may trade actively in today's session

IT stocks may trade under pressure today after Accenture forecast current-quarter revenue below Wall Street expectations and missed estimates for fourth-quarter sales, hurt by lower spending from clients impacted by the Covid-19 pandemic. Meanwhile, Accenture's total revenue fell 2 per cent to $10.84 billion in the quarter ended August 31, missing analysts’ estimate.

RIL: Reliance Retail, according to reports, is in talks with Electronics Mart India, a consumer durables retail chain, for a possible acquisition. Electronics Mart operates 60 stores in South India with 1,200 employees on its roll. READ MORE

Cipla: The company on Friday announced that it has received final approval for its Abbreviated New Drug Application (ANDA) for Dimethyl Fumarate DR Capsules 120mg, 240mg, and 120mg/240mg Starter Pak from the United States Food and Drug Administration (US FDA).

Tata Coffee is learnt to be in the initial stages of negotiations to acquire 12,000 hectares of coffee plantations that belonged to V G Siddhartha, the founder of Café Coffee Day Enterprises, for a valuation of Rs 1,200-1,500 crore.

TCS has partnered with Maurices, a women’s fashion-apparel retail chain in the US and Canada, to help create a new flexible and scalable IT landscape for the latter.

Mahindra & Mahindra: The company on Thursday said it has converted 480 Compulsorily Convertible Preference Shares of Sampo Rosenlew Oy, Finland, an Associate of the Company (”Sampo”) into 1,440 equity shares and exercised a Call Option to acquire 633 equity shares from the owners of Sampo. Pursuant to the said transaction, the voting rights of the Company in Sampo would increase from 49.14% to up to 74.97%, and Sampo would become a subsidiary of the Company.

ONGC: In a BSE filing, the company informed that it will soon resume operations in Hazira Plant after fire. It added that there has been no casualty or injury in the plant.