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Friday, July 3, 2020

Stocks in the news: Glenmark Pharma, HDFC, Cipla, Info Edge, UCO Bank and Cochin Shipyard

Kirloskar Industries, Info Edge (India), NDTV, Onmobile Global, Skipper are scheduled to announce their March quarter earnings on Monday.
Continue reading on Economic TimesNifty futures on the Singapore Exchange traded 49 points, or 0.48 per cent higher at 10,194.20, in signs that Dalal Street was headed for a positive start on Monday. Here are a few stocks which may buzz the most in today’s trade:

Dhanlaxmi Bank, Info Edge: Dhanlaxmi Bank, GTL, Kirloskar Industries, Info Edge (India), NDTV, Onmobile Global and Skipper are scheduled to announce their March quarter earnings on Monday.

Glenmark Pharmaceuticals: The drug maker launched an antiviral drug Favipiravir (brand name FabiFlu®) for the treatment of mild to moderate Covid-19 patients.

UCO Bank: State-run UCO Bank tied up with four insurers to offer various insurance products to its customers through its network of branches across the country.

Cipla: The drug maker and Hetero have received an emergency marketing approval for Remdesivir for the treatment of severe coronavirus patients from the drug controller of India.

HDFC: Mortgage lender Housing Development Finance Corporation (HDFC) said its committee of directors have approved raising funds up to Rs 14,000 crore.

Coal India: The company will engage mine developer cum operators (MDOs) to increase its coal output and reduce import dependency of the dry fuel in the coming years.

Bajaj Electricals: The company posted a consolidated net loss of Rs 81 lakh in the March quarter, hit by de-growth of the EPC segment. It had logged a net profit of Rs 23.08 crore in the corresponding January-March quarter a year ago.

Cadila Healthcare: The drug maker reported a 14.82 per cent decline in consolidated net profit to Rs 391.90 crore for the quarter ended March 31 .

LIC Housing Finance: The HFC reported a 39 per cent fall in its consolidated net profit to Rs 424.31 crore in the fourth quarter ended March.

Reliance Capital: The company will not be able to service its debt in a timely manner following downgrading of its bond programme by CARE Ratings, which triggered an accelerated repayment which otherwise was to take place in a phased manner over eight years, the company said.

Akzo Nobel India: Paints and coatings maker Akzo Nobel India reported a 23.11 per cent decline in consolidated net profit at Rs 54.08 crore for the fourth quarter ended March 2020.

Zuari Agro Chemicals: The company said its consolidated net loss widened to Rs 304.60 crore during the fourth quarter of 2019-20 on poor sales. The company’s net loss stood at Rs 255.17 crore during the January-March period of the 2018-19 fiscal, it said in a regulatory filing.

HDFC Bank: Top private lender HDFC Bank said its board has approved a proposal to raise up to Rs 50,000 crore in the next twelve months by issuing various debt securities.

Cochin Shipyard: The state-run firm has posted a 44 per cent jump in consolidated profit to Rs 137.52 crore for the quarter ended March.

Power Grid Corporation: Power Grid Corporation on Saturday posted over 8 per cent jump in consolidated net profit at Rs 3,313.47 crore for the quarter ended March.

Zuari Agrochemicals: : The company said its consolidated net loss widened to Rs 304.60 crore during the fourth quarter of 2019-20 on poor sales.

Southern Petrochemical Industries Corporation Ltd (SPIC): The company on Friday said it has recorded standalone profits after tax at Rs 28.53 crore for the January-March quarter. The company had clocked standalone profits after tax at Rs 16.49 crore during the corresponding quarter previous year.

Apollo Tricoat: IIFL Asset Management on Friday bought 269,000 shares of Apollo Tricoat at Rs 370 per share.

Punjab National Bank: State-run lender Punjab National Bank’s net loss narrowed down to Rs 697.20 crore for the quarter ended March 31, compared with Rs 4,749.64 crore loss in the corresponding quarter last year.

Ashok Leyland: Hinduja flagship firm Ashok Leyland its board has approved raising of Rs 200 crore through issuance of securities on a private placement basis.

PTC India: PTC India reported a 35.41 per cent decline in its consolidated net profit to Rs 47.96 crore in the March quarter, due to lower contribution from subsidiaries.

Unichem Laboratories, Lupin: Pharma companies Unichem Laboratories and Lupin are separately recalling certain batches of drugs from the US market due to quality issues.

Novartis India: Drug firm Novartis India reported a 65.28 per cent decline in net profit to Rs 6.78 crore for the quarter ended March .

Oil & Natural Gas Corp (ONGC): State-owned ONGC has warned that the COVID-19 pandemic will impact the speed of execution of its projects and the company is identifying opportunities for optimisation of capital and operating expenditure.

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