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Stocks to watch: HDFC Bank, Bajaj Auto, ICICI Bank, Marico, Sobha, NFL, NLC

  • July 06, 2020

At 08:43 am, Nifty futures on the Singapore Exchange (SGX) were trading 121 points or over 1 per cent higher at 10,688.80, indicating a positive start for the Indian market on Monday.

Here’s a look at the top stocks that may remain in focus today –

HDFC Bank: The bank’s advances expanded by 21 per cent year on year to approximately Rs 1,004,500 crore, as of June 30. The outstanding loans stood at Rs 829,700 crore as of June 30, 2019, and Rs 993,700 crore as of March 31, 2020. READ MORE

Bajaj Auto: Workers at Bajaj Auto, India’s biggest exporter of motorbikes, are demanding the temporary closure of one of its plants after 250 employees there tested positive for coronavirus, its unions said on Saturday, as companies struggle to ramp up operations.

ICICI Bank: ICICI Bank’s board will meet on Wednesday to discuss a proposal to raise funds by issuing equity shares to strengthen its financial position.

Edelweiss Financial Services: The company has posted a pre-tax loss of neary Rs 2,818.9 crore for the fourth quarter ended March 2020, on an increase in provisions for impairment on loans and financial instruments.

Marico on Friday issued an overall summary of the operating performance and demand trends witnessed in Q1 June 2020. The company said it remains cautiously optimistic about the future as it unfolds, however much will depend on the extent of the spread of Covid-19 in India and overseas and how the on-ground environment evolves in conjunction with the response of respective governments.

Adani Ports: Adani Ports and Special Economic Zone (APSEZ) on Friday (3 July) said it achieved a throughput of 41.5 MMT across its nine operating ports in India during Q1 June 2020. During the quarter, Mundra Port surpassed Jawaharlal Nehru Port Trust (JNPT) volume to become the largest container port in India.

Sobha: The company posted its highest ever income, sales volume and collections during FY-20 despite challenges thrown by Covid-19 during last fortnight of the fourth quarter, it said in a business update.

National Fertilizers (NFL): The company has achieved highest-ever fertilizer sale of 12.85

Lakh MT in first quarter (April-June) of this financial year. This is about 21.5 per cent higher than the sales of 10.57 LMT made by company in the first quarter of 2019-20.

NLC: NLC India and Coal India executed a Joint Venture Agreement on 3 July 2020 for formation of a Joint Venture Company (JVC) to develop Solar and Thermal Power assets to the tune of 5000 MW on pan India basis.

DHFL: DHFL has defaulted on payment of Rs 50 crore on bonds, saying the company is not in a position to make payments to the lenders as it is under moratorium since last November.

Astrazeneca India: Biopharmaceutical major AstraZeneca, which has undertaken a global research study to test the effects of drug dapagliflozin in preventing serious complications such as organ failure in Covid-19 patients, is likely to begin the trials in India by July end.

eClerx: The company’s board meeting to be held today to consider the proposal for buy-back of equity shares of the company.

Prism Johnson: The company informed Monday that the board has approved divestment of its entire holding of 51% of the paid-up equity share capital in Raheja QBE General Insurance Company Limited (‘RQBE’), a material subsidiary, to QORQL Private Limited with majority shareholding of Vijay Shekhar Sharma and remaining held by Paytm for an aggregate consideration of Rs 289.68 crore.

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