Stocks to Watch: Wipro, BPCL, IOC, Maruti, RIL, SpiceJet, L&T Finance

livemint.com:

Wipro: Wipro Holdings (UK) has completed the transfer of its entire shareholding in Wipro 4C NV to Wipro IT Services UK Societas, with the effective date being September 12. Both Wipro Holdings (UK) and Wipro IT Services UK Societas are wholly-owned subsidiaries of the company, while Wipro 4C NV operates as a step-down subsidiary.

This move is part of the company's broader strategy to streamline and simplify its group structure. BPCL/HPCL/IOC: Oil marketing companies (OMCs) including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPLC) and Hindustan Petroleum Corp Ltd (HPCL) saw a downgrade in their July-September quarter (Q2) growth outlook after international crude oil prices sharply rose above $91 per barrel.

Domestic brokerage firm Kotak Institutional Equities has ‘reduced’ their ratings on all three OMC stocks and has said that the companies have incurred losses over petrol and diesel sales with frozen retail prices and high crude oil rates. Maruti Suzuki: Maruti Suzuki India expects record festive sales this year amid concerns over high interest rates and the likelihood of deficient monsoon affecting rural sentiments.

Speaking on the sidelines of the annual SIAM Convention here, Maruti Suzuki India Senior Executive Officer, Marketing & Sales, Shashank Srivastava said that on average, the festive season accounts for about 23-26 per cent of the industry's annual sales. This fiscal, the total expected PV sales is 40.5-41 lakh, and 25 per cent of it means that the festive season sales this year would cross the 10 lakh sales mark.