Bharti Airtel is the biggest loser, falling more than 4 percent. Credit Suisse downgraded all telecom stocks after the telecom operators applied for spectrum auction slated for February 3.

The board of directors of the company approved the sale and transfer by the company of its transportation systems undertaking to a group company, ALSTOM Transport India, as a going concern on a ‘slump sale’ basis. The transaction is for a lump sum consideration without values being assigned to individual assets and liabilities, for a total consideration not less than Rs 176.9 crore in cash.

Analysts expect India’s largest software services exporter to report better than peers’ results in the quarter ended December 2013 as it has beeen delivering quarter-after-quarter top of the class financial results. According to CNBC-TV18 poll, profit after tax is expected to grow 10.2 percent sequentially to Rs 5,179 crore during October-December quarter.

Experts feel TCS is again likely to lead the sector on dollar revenue growth in the quarter ended December 2013. Constant currency growth is expected to be 2.5 percent as third quarter is seasonally weak due to furloughs, fewer working days and employees going on vacation.

Earlier in December, the management had said in analyst meet that there are no aberrations on a year-on-year basis, suggesting a typical seasonally weak quarter. Analysts expect revenues of the company to increase 1.9 percent quarter-on-quarter to Rs 21,373 crore while dollar revenues may jump 3.3 percent to USD 3450 million in the quarter gone by.

ICICIDirect said return ratios for the bank continue to stay healthy considering the current scenario with return on equity and return on asset for Q3 at 24.4 percent and 1.6 percent, respectively. However, asset quality, though managed well and still acceptable compared to peers, has seen slippages staying elevated for past two quarters, the report said.

The brokerage house feels lower credit growth and NIMs could keep NII growth modest. Hence, ICICIDirect maintains hold rating on the stock.

The sharemarket is consolidating today after a rally of 257-point in earlier session. It seems to be looking for corporate earnings and RBI policy to get direction on either side. The Sensex fell14.75 points to 21,274.74, and the Nifty declined 0.35 points to 6,320.55. About 850 shares have advanced, 799 shares declined, and 212 shares are unchanged.

Bharti Airtel is the biggest loser, falling more than 4 percent. Credit Suisse downgraded telecom stocks after the telecom operators applied for spectrum auction slated for February 3. Credit Suisse downgraded Bharti to neutral and Idea to underperform with a target price of Rs 310 (against Rs 420 earlier) and Rs 130 (against Rs 190 earlier), respectively.