Stocks in focus on August 26, 2020

New Delhi: Markets closed in the green for the third straight session on Tuesday led by gains in financial stocks amidst firm global cues.

The BSE index ended 44.80 points or 0.12 per cent higher at 38,843.88 while the NSE Nifty closed 5.80 points or 0.05 per cent higher at 11,472.25.

Here are Stocks in focus on August 26, 2020

SBI

Moody's Investors Service on Tuesday affirmed the long-term local and foreign currency deposit ratings of State Bank of India (SBI) at 'Baa3'. 'Baa' rating indicates moderate credit risk. However, the global rating agency, in a statement, said it has downgraded SBI's Baseline Credit Assessment (BCA) and adjusted BCA to 'ba2' from 'ba1' on account of concern on asset quality due to moratorium.

TCS

S&P Global Ratings on Tuesday said Tata Consultancy Services (TCS) is likely to face slower growth in revenue and profitability over the next 12-18 months, given subdued global information technology (IT) spending. However, the Mumbai-based IT major's robust cash position and prudent financial policies will continue to support its financial position, it said.

FDC

Drug firm FDC Ltd on Tuesday said it has launched two variants of the COVID-19 drug Favipiravir under the brand names PiFLU and Favenza. The Drug Controller General of India (DCGI) had earlier approved the use of Favipiravir, an off patent, oral antiviral drug that has been shown to quicken clinical recovery in COVID-19 patients with mild to moderate symptoms, FDC said in a statement.

Atul Auto

The leading three-wheeler manufacturing company Atul Auto on Tuesday reported a consolidated loss of Rs 6.7 crore for the quarter ended June 30, 2020.