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Stocks to watch: Defence-related stocks, telcos, RIL, Cipla, Eveready, BPCL

  • August 10, 2020

At 08:45 AM, Nifty futures on the Singapore Exchange (SGX) were trading 30.4 points or 0.27 per cent higher at 11,259.50, indicating a flat start for the Indian market on Monday.

Here’s a list of stocks that may remain in focus today

Defence-related stocks: Shares of defence equipment manufacturers are expected to trade actively in today’s session as the Ministry of Defence (MoD) announced on Sunday a phased, year-wise embargo on the import of 101 items of defence equipment. As an equipment type comes under the import embargo, the military will be required to buy it from Indian defence manufacturers.

Telecom, bank stocks: The Supreme Court (SC) is expected to give its final verdict in the adjusted gross revenue (AGR) case on Monday. This will decide whether the telecom companies — Bharti Airtel and Vodafone Idea – will be allowed a relaxed payment structure for clearing the dues they owe to the Union government. READ MORE

Earnings today: Bank of Baroda, Ipca Lab, and Titan Company are among the 100 firms set to report their earnings today.

Divi’s Lab: The pharma firm has reported an 80.61 per cent rise in consolidated net profit at Rs 492.06 crore for June quarter 2020.

CONCOR: State-owned Container Corporation of India Ltd (Concor) on Friday said its consolidated profit nosedived 75.97 per cent to Rs 58.26 crore for the quarter ended on June 30, 2020.

Prestige Estates Projects: According to reports, private equity giant Blackstone Group will acquire property developer Prestige Group’s rental income assets for more than $1.7 billion (Rs 12,745 crore).

Reliance Industries (RIL): Saudi Aramco Chief Executive Amin Nasser, as per reports, has said the company is ‘still working on the deal to invest in the company.

Cipla: Mumbai headquartered Cipla posted 20 per cent growth in profit before tax (PBT) for the first quarter of the current financial year to Rs 799 crore, on a 9 per cent year-on-year (YoY) growth in revenues to Rs 4,346 crore.

IndusInd Bank, Eveready Industries: Private sector IndusInd Bank on Saturday said it has acquired 7.82 per cent stake in battery maker Eveready Industries by invoking pledged shares following loan default. The bank invoked pledge on 56,83,320 shares forming 7.82 per cent of paid-up equity share capital of Eveready Industries.

DCB Bank: Net profit of DCB Bank declined 2.07% to Rs 79.38 crore in the quarter ended June 2020 as against Rs 81.06 crore during the previous quarter ended June 2019.

Magma FinCorp: Net profit of the company rose 254.42 per cent to Rs 37.71 crore in the quarter ended June 2020 as against Rs 10.64 crore during the previous quarter ended June 2019.

Amber Enterprises: The compoany has reported a net loss of Rs 22.45 crore in the quarter ended June 2020 as against net profit of Rs 61.22 crore in the year-ago period.

Article source: https://www.business-standard.com/article/markets/stocks-to-watch-defence-related-stocks-telcos-ril-cipla-eveready-bpcl-120081000151_1.html

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