Sunday, January 24

Stocks in the news: ICICI Bank, Titan, Motherson Sumi, IndiGo, IPCA Labs, BoB and Persistent Systems

Nifty futures on the Singapore Exchange traded 18.50 points, or 0.16 per cent higher at 11,337.50, in signs that Dalal Street was headed for a positive start on Tuesday. Here are a few stocks which may buzz the most in today’s trade:

Bosch, Motherson Sumi and Bajaj Electricals: Bosch, Motherson Sumi Systems, Metropolis Healthcare, KRBL, Galaxy Surfactants, Bajaj Electricals, Symphony, Shriram City Union Finance, Chalet Hotels AIA Engineering, Central Bank of India and Oracle Financial Services Software are among companies which will announce their fourth quarter results on Tuesday.

ICICI Bank: The second largest private sector lender ICICI Bank set the floor price at Rs 351.36 per share for its proposed share sale to raise up to Rs 15,000 crore.

InterGlobe Aviation: IndiGo’s parent company InterGlobe Aviation on Monday said it will raise up to Rs 4,000 crore through a qualified institutional placement (QIP). The aviation sector has been hit hard due to travel restrictions amid the coronavirus pandemic.

Titan: The comany reported a standalone net loss of Rs 270 crore in the quarter ended June against a profit of Rs 371 crore a year ago. The company said disruption caused by Covid-19 pandemic pulled down total income by 62 per cent to Rs 1,901 crore.

Axis Bank: UBS Principal Capital Asia offloaded shares of Axis Bank worth over Rs 150 crore through open market transactions. A total of 35 lakh scrips of the private sector lender were sold at an average price of Rs 429.5 apiece, valuing the deal at Rs 150.32 crore.

IPCA Labs: Drug firm Ipca Laboratories reported over three-fold jump in its consolidated net profit to Rs 445.68 crore for the quarter ended June due to robust sales.

Persistent Systems: Pune-based software exporter Persistent Systems said its chief executive Christopher O’Connor has resigned with immediate effect.

Bank of Baroda: State-owned Bank of Baroda reported a net loss of Rs 864 crore on a standalone basis in the quarter ended June due to increased provisioning for standard accounts.

Power Grid: State-owned Power Grid Corporation of India Ltd on Monday posted an over 18 per cent fall in its consolidated net profit to Rs 2,048.42 crore for the June 2020 quarter.

Equitas Small Finance Bank: Small finance lender Equitas Small Finance Bank reported a profit after tax of Rs 60 crore for the quarter ended June. It had reported a net profit of Rs 59 crore in the same quarter of the previous fiscal.

Cochin Shipyard: The actual date of completion for the dry dock project at the Cochin Shipyard has been revised to December 2022, owing to various factors, the ship builder said on Monday.

South Indian Bank: The Kerala-based South Indian Bank said it has obtained in-principle approval from the Reserve Bank of India (RBI) to set up a wholly owned non- financial subsidiary.

AstraZeneca Pharma: Drug firm AstraZeneca Pharma India reported a 13.38 per cent decline in its net profit to Rs 18.63 crore for the quarter ended June.

Akzo Nobel: Paints and coatings maker Akzo Nobel India reported a consolidated net loss of Rs 20.26 crore for the June quarter due to lower volume and demand impacted by lockdown.

BEL, BEML: The upgraded state-of-the-art Maareech Integration Facility at the Bharat Electronics (BEL) was inaugurated by Defence Minister Rajnath Singh on Monday. Besides, an industrial design centre (IDC) of BEML was inaugurated here on Monday by Defence Minister Rajnath Singh.

Kotak Mahindra Bank: Private sector lender Kotak Mahindra Bank said it has achieved compliance with the RBI norms in respect of dilution of promoter Uday Kotak’s shareholding. The bank was required to bring down the promoter’s shareholding to 26 per cent.

NDTV: Media firm NDTV on Monday reported a 54.68 per cent decline in consolidated net profit at Rs 7.55 crore for the quarter ended June. The company had posted a net profit of Rs 16.66 crore during the April-June period a year ago, NDTV said in a BSE filing.

Source: ET Markets

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