Nifty futures on the Singapore Exchange traded 46 points, or 0.45 per cent lower at 10,283.50, in signs that Dalal Street was headed for a negative start on Tuesday. Here are a few stocks which may buzz the most in today’s trade:
Asian Paints, Bank of Baroda: Berger Paints, Asian Paints, Balrampur Chini, Bank of Baroda, DB Corp, Page Industries are among companies which will unveil their March quarter earnings on Tuesday.
Bharti Airtel: Fitch Ratings on Monday revised the outlook on telecom major Bharti Airtel’s long-term foreign-currency (FC) issuer default rating (IDR) to negative from stable, and affirmed the IDR at ‘BBB-‘.
Reliance Industries (RIL): India’s most-valued firm RIL said on Monday it will hold its annual general meeting (AGM) through video conferencing (VC) or other audio-visual means (OAVM) on July 15. Foreign brokerage Macquarie said the risk-reward is skewed firmly towards the negative for Reliance Industries shares after the run-up in stock price.
ICICI Prudential Life Insurance Co: Government of Singapore lapped up shares of ICICI Prudential Life Insurance Co, as private lender ICICI Bank trimmed its stake in the life insurer. It bought 215,00,000 shares of the life insurer at Rs 391.60 per share from the private lender.
Info Edge (India): The company posted over 63 per cent decline in consolidated net profit at Rs 119 crore for the quarter ended March 2020. The company had registered a net profit of Rs 325.2 crore in the year-ago period, Info Edge (India) Ltd said in a filing to the BSE.
Vodafone Idea: Telecom operator Vodafone Idea has countered digital payments firm Paytm’s lawsuit over phishing frauds, arguing that telcos cannot legally access or control content of communication sent over their networks or judge if it is fraud.
Axis Bank: The Securities Appellate Tribunal (SAT) has directed Axis Bank and National Stock Exchange to maintain status quo in a matter pertaining to release of certain securities by the private lender, directed by NSE. The tribunal will hear the matter again on July 3, according to a SAT order.
ONGC: State-owned ONGC has temporarily suspended operations at two drilling rigs in the Arabian Sea after 54 employees tested positive for coronavirus and one died but the oil and gas production has not been impacted.
Satin Creditcare Network: Microfinance company Satin Creditcare Network said on Monday its board has approved raising of Rs 120 crore through a rights issue.
YES Bank: YES Bank will default its interest payment on its 10.25% upper Tier II bonds which is due on June 29, after RBI declines permission for payment of interest because its capital position was below the required limit.
GE Power India: GE Power India on Monday reported over 44 per cent decline in consolidated net profit at Rs 14.87 crore for the quarter ended March 2020. The company had posted a consolidated net profit of Rs 26.85 crore during the quarter ended March 2019.
Dhanlaxmi Bank: The bank reported 90.5 per cent decline in net profit at Rs 2.60 crore for March quarter 2019-20 due to higher provisions for bad loans and contingencies.
Shriram Housing Finance: The HFC has raised long term debts of around Rs 300 crore from lenders.
Morepen Laboratories: Drug firm Morepen Laboratories reported a 5.05 per cent rise in its consolidated net profit to Rs 11.02 crore for the quarter ended March.
IT stocks: US President Donald Trump signed an Executive Order on Monday restricting H-1B, L-1 and other temporary work permits, which he said is aimed at protecting local workers who are facing unemployment. “We have a moral duty to create an immigration system that protects the lives and jobs of our citizens”, said Trump in a statement.
Raymond: Amid an organisational restructuring to tide over the COVID-19 woes, apparel maker Raymond has seen about 1,100 employees either resigning or being sacked since April as part of cost-control measures, retrenched employees claimed, but the firm refuted their assertions on non-payment of full dues.
NDTV: Media firm New Delhi Television (NDTV) on Monday reported a 30.19 per cent decline in consolidated net profit to Rs 9.20 crore for the fourth quarter ended March 2020. The company had posted a net profit of Rs 13.18 crore during the corresponding quarter of the previous financial year, NDTV said in a regulatory filing.
Adani Power: The board of Adani Power has approved a proposal to delist company shares from stock exchanges, the Adani group firm said on Monday. The company has worked out the floor price of Rs 33.82 per share to buy 96.53 crore equity shares with the public for about Rs 3,264 crore.
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