NEW DELHI :
Here’s a list of stocks that may be in news on Thursday.
HDFC Life: Housing Development Finance Corporation (HDFC), promoter of HDFC Life, on Wednesday sold 2.6 crore shares of the insurance company worth a little over ₹1,274 crore through an open market transaction, according to bulk deal data available with the BSE.
RIL: The rights issue of Reliance Industries Ltd (RIL) was subscribed 1.6 times as it closed on Wednesday. With this, RIL will move closer to its plans of becoming a zero net-debt company by March 2021.
Aurobindo Pharma: The company reported a 45.07% jump in its consolidated net profit to ₹848.99 crore for the quarter ended March 31. Aurobindo Pharma had posted a net profit of ₹585.22 crore for the corresponding period of the previous financial year.
BPCL: State-run refiner Bharat Petroleum Corporation (BPCL) posted a consolidated net loss of ₹1,819.6 crore for the fourth quarter ended March 2020. Changes in inventories of finished goods, stock-in-trade and work-in-progress came in negative at ₹(3,036.42) crore during the quarter against ₹3,646.4 crore in previous quarter, following steep correction in global oil prices, the company said in a regulatory filing.
JSPL: Private sector steel maker JSPL on Wednesday reported a 9% fall in consolidated crude steel production to 6.20 lakh tonne for May. The consolidated sales in May rose 26% to 7.96 lakh tonnes as compared with 6.31 lakh tonnes in the corresponding month of 2019.
Tata Consumer Products: The pandemic has imposed incremental operating costs on the business, the company said in a regulatory filing. “While there will be some impact on our profitability in the short term; however, it is difficult to assess the exact quantum at this stage. The Company has taken adequate measures across the organization to control costs, to conserve cash and to address any evolving situation resulting from the pandemic,” it added.
Tata Steel: The committee of directors at Tata Steel has approved raising ₹400 crore through a debt issue. The committee has approved allotment of 4,000 non-convertible debentures having face value of ₹10 lakh each on private placement basis to identified investors, the company said in a BSE filing.
Steel Strips Wheels: The company has received orders worth 3.35 lakh euros for supply of over 8,000 wheels in the EU and US markets. The orders will be executed in June and July from its Chennai truck wheel plant, the company said in a regulatory filing.
Religare Enterprises: The company has raised ₹300 crore by divesting stake in group firm Religare Health Insurance Company Ltd (RHICL) to Kedaara Capital. Consequent to the capital raising, the company said it has retired previous loan and has become completely external debt free.
GAIL: Natural gas company GAIL India and Energy Efficiency Services (EESL) signed a memorandum of understanding on Wednesday, for development of ‘trigeneration’ projects in India.