Nifty futures on the Singapore Exchange traded 57.5 points, or 0.56 per cent higher at 10,293.50, in signs that Dalal Street was headed for a positive start on Friday. Here are a few stocks which may buzz the most in today’s trade:
Reliance Industries: Fitch Ratings upgraded oil-to-telecom conglomerate Reliance Industries’ (RIL) long-term local-currency issuer default rating (IDR) to ‘BBB+’ from ‘BBB’, with a stable outlook, on the back of expectations of an improvement in the company’s financial profile helped by the recent record fund raising.
ITC, Coal India and Oil India: ITC, Apollo Microsystems, Bartronics India, Coal India, EIH, Eris Lifesciences, Emami, Glenmark Pharmaceuticals, HT Media, Hudco, IFCI, ITI, Oil India, Ruchi Soya, South Indian Bank, UCO Bank, Sun TV Network will announce their March quarter earnings on Friday.
Ashok Leyland: Hinduja Group flagship Ashok Leyland reported a loss for the March quarter as revenue more than halved due to sharp contraction in demand stemming from various reasons like excess capacity in the transport sector, increase in vehicle prices and weak macro-economic environment.
Tourism Finance Corp: Anjana Projects, Beacon Trusteeship, Dovetail India Fund Class 6 Shares sold 4,59,037 shares, 4,14,290 shares and 10,23,271 shares of Tourism Finance Corporation of India . On the other hand, ICM Finance lapped up 10,50,000 shares of the company at Rs 35.50 per share. Dovetail India Fund held 1.33 per cent stake in the company at the end of March quarter, and with this transaction has offloaded most of his stake in the company.
Vedanta: Billionaire Anil Agarwal-controlled Vedanta said it has received shareholders’ nod for delisting the company.
Kolte-Patil Developers: Realty developer Kolte-Patil Developers has reported net loss of Rs 16.4 crore for the quarter ended March as against net profit of Rs 40.4 crore a year ago. Revenue for the quarter rose 13.4% year-on-year to Rs 221.7 crore.
Bank of India: The PSU bank reported a standalone net loss of Rs 3,571.41 crore for the quarter ended March 31, 2020 due to higher provisions for bad loans. The bank clocked a profit of Rs 251.79 crore in the same quarter a year ago.
Indian Overseas Bank: State-owned Indian Overseas Bank has booked net profit after 18 straight months while reported net non-performing below 6 percent for two consecutive quarters, making itself a contender to get out of Reserve Bank of India’s prompt corrective action (PCA) framework, which puts restrictions on lending, branch expansion and dividend distribution.
Indian Hotels Co: Indian Hotels Company (IHCL) announced that it is foraying into new culinary offerings through the launch of a new brand called Qmin.
Power Finance Corporation: State-owned Power Finance Corporation (PFC) on Thursday said it sanctioned loans over Rs 1 lakh crore for power projects during the 2019-20 financial year.
Source: ET Markets