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Stocks to watch: RIL, Voda Idea, Wipro, Voltas, YES Bank, Cadila Healthcare

  • May 29, 2020

At 08:49 am, Nifty futures on the Singapore Exchange (SGX) were trading 25 points or 0.27 per cent higher at 9,401, indicating a muted start for the domestic market on Friday.

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

Reliance Industries (RIL): RIL’s rights entitlement (RIL RE) surged 14 per cent on Thursday to end at Rs 230 on the National Stock Exchange (NSE). The RIL RE trading window closes on Friday — three working days before the close of the company’s mega rights issue.

Vodafone Idea: Global technology giant Google is in talks to buy a 5 per cent stake in Vodafone Idea, owned by Vodafone Plc of the UK and Aditya Birla Group. The move comes about a month after Google’s biggest rival, Facebook, picked up a 9.99 per cent stake in Reliance Industries’ (RIL’s) Jio Platforms for Rs 43,574 crore.

Wipro: The IT firm has appointed Thierry Delaporte as the Chief Executive Officer and Managing Director of the company, effective July 6, 2020. Thierry Delaporte was the Chief Operating Officer of Capgemini Group and a member of its Group Executive Board, the company said in its press release.

Earnings today: As many as 31 companies including Voltas, Jubilant Life Sciences, and Metropolis Healthcare, are scheduled to announce their March quarter results.

TVS Motor Co: Net profit of TVS Motor Company declined 44.80 per cent to Rs 73.87 crore in the quarter ended March 2020 as against Rs 133.83 crore in the corresponding quarter of the previous fiscal. Sales declined 20.59 per cent to Rs 3,481.42 crore.

Cadila Healthcare announced that the Company’s formulations manufacturing facility located at Baddi, India has received an Establishment Inspection Report (EIR). The EIR report stated that the classification of the facility is ‘No Action Indicated (NAI)’.

YES Bank: The stock will not be available for trading in Futures Options segment from May 29.

Jet Airways: Jet Airways in its fourth attempt to find a suitor for its revival has received seven expressions of interest (EoIs) from several entities, along with Synergy Group’s letter of continuity, according to people in the know. The deadline to submit EoIs for the beleaguered company ends on Thursday.

Ceat: Tyre maker Ceat on Thursday reported a 19.58 per cent decline in consolidated net profit at Rs 51.72 crore for the fourth quarter ended March 31, 2020. The company had posted a net profit of Rs 64.32 crore in January-March quarter a year ago, Ceat Ltd said in a regulatory filing.

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