At 08:57 am, Nifty futures on the Singapore Exchange (SGX) were trading 27 points or 0.27 per cent lower at 10,058, indicating a muted start for the domestic market on Thursday.
Here’s a look at the top stocks that may remain in focus today:
Earnings today: A total of 15 companies including DLF, PI Industries, and SRF are scheduled to announce their March quarter results.
BPCL: Hit by a loss of inventory, state-run Bharat Petroleum Corporation (BPCL) reported a pre-tax loss of Rs 2,958.91 crore for the quarter ended March 31. During the same period last year, the state refiner had reported a profit.
HDFC Life: Standard Life is set to sell 4 crore shares of the company via block trades in the offer price range of Rs 490 and Rs 501 a share.
Aurobondo Pharma: The company reported a 32 per cent jump in profit before tax (PBT) at Rs 1,077.51 crore for the quarter ended March 31, 2020 as compared to Rs 816.34 in the corresponding quarter of the previous year on the back of increased revenue fuelled by formulations business growth across geographies.
RIL: Reliance Industries’ (RIL’s) Rs 53,125-crore fund raising initiative to reduce debt saw a stellar response from investors. The 422.6-million share offering received bids for 671.1 million shares, making it among the most subscribed rights offerings in India.
Adani Group stocks: The Adani group has expressed its inability to take over three airports it won after aggressive bidding last year, dealing a blow to the government’s privatisation plan. The group has cited uncertainty in the aviation sector due to the coronavirus pandemic for seeking at least six months to take over Lucknow, Mangalore and Ahmedabad airports, sources told Business Standard. READ MORE
GAIL (India) and Energy Efficiency Services have signed a Memorandum of Understanding (MoU) in New Delhi for cooperation in development of Trigeneration projects in India.
Persistent Systems: To help organisations in faster deployment of IBM Cloud Pak, Persistent Systems and IBM announced a new collaboration to help accelerate IBM Cloud Pak deployments to speed clientsf enterprise modernization and their move to the cloud.
V.S.T Tillers Tractors said its total sales rose 22.96% to 2,383 units in May 2020 as against 4,815 units in May 2019.