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Sunday, July 5, 2020

Stocks in focus: Glenmark Pharma, Cipla, Reliance Capital, HDFC Bank shares to remain in n

Market sentiments would be swayed by global cues, development around geopolitical tensions, coronavirus cases, monthly F&O expiry and foreign fund movement
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Glenmark Pharma, cipla, stocks in focus

Nifty Futures were trading 32 points 0r 0.31 per cent lower at 10,214.50 on Singaporean Exchange, suggesting a lower start for BSE Sensex and Nifty 50 on Monday. Market sentiments would be swayed by global cues, development around geopolitical tensions, coronavirus cases, monthly F&O expiry and foreign fund movement. Meanwhile, the total number of COVID-19 cases in India went past 4 lakh-mark on Sunday with the death toll at 13,254. “We expect the markets to remain volatile as investors would track global cues and development around geopolitical tensions. We would advise investors to look for buying opportunities on declines in market and focus more on stock-specific action,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Stocks in focus today:

Glenmark Pharmaceuticals: Glenmark became the first pharmaceutical company in India to receive regulator approval for oral antiviral Favipiravir, for the treatment of mild to moderate COVID-19. “Glenmark Pharmaceuticals announced the launch of antiviral drug Favipiravir (brand name FabiFlu®) for the treatment of mild to moderate COVID-19 patients,” company said in a regulatory filing.

Cipla: Cipla announced the launch of remdesivir under its brand name CIPREMI. The US FDA issued an Emergency Use Authorization (EUA) to Gilead Sciences Inc. for emergency use of remdesivir for the treatment of hospitalized 2019 coronavirus disease (COVID-19) patients, company informed.

Dhanlaxmi Bank, Info Edge: Aegis Logistics, Info Edge (India), AIA Engineering, Balaji Amines, Dhanlaxmi Bank, Kirloskar Industries, Morepen Laboratories, OnMobile Global, Skipper, Sudarshan Chemical Industries, The Investment Trust Of India, UFO Moviez, are among 61 companies that are scheduled to announce their March quarter earnings today.

HDFC Bank: HDFC Bank’s board approved a proposal to raise up to Rs 50,000 crore in the next twelve months by issuing various debt securities. “The Board of Directors have approved the issue of perpetual debt instruments, Tier II Capital Bonds and Long Term Bonds up to a total amount of Rs 50,000 crores in the period of next twelve months through private placement mode,” company said in a regulatory filing.

Reliance Capital: Reliance Capital (RCap) has said that it will be unable to timely service its debt following CARE Ratings downgraded its bond programme, which caused an accelerated repayment which otherwise was to occur in eight years in a phased manner, the company said, according to a PTI report.

HDFC: Housing Development Finance Corporation announced that it was looking to raise Rs 14,000 crore with the intention to augment the long-term resources of the corporation, finance organic or inorganic business opportunities, to maintain liquidity and for general corporate purposes.

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