Stocks to watch: Ashok Leyland, Canara Bk, BPCL, Bharti Infratel, PFC, TCS

At 08:46 am, Nifty futures on the Singapore Exchange (SGX) were trading 105 points or 1 per cent lower at 10,194, indicating a negative start for the Indian market on Thursday.

Here's a look at the top stocks that may remain in focus today - 

Earnings today: A total of 147 companies, including Apollo Hospitals, Ashok Leyland, and Bank of India are scheduled to announce their quarterly results today.

RIL: The Competition Commission on Wednesday said it has cleared Facebook's proposed acquisition of 9.99 per cent stake in Jio Platforms, the digital arm of Reliance Industries.

Canara Bank: Public sector bank Canara Bank posted a pre-tax loss of Rs 3,334.5 crore for the fourth quarter ended March 31, 2020 (Q4FY20) on a decline in net interest income and higher employee costs. The lender had posted a pre-tax loss of Rs 2,550 crore in same quarter of 2018-19 (Q4FY19). READ MORE

IOC: The country’s largest fuel retailer Indian Oil Corporation on Wednesday reported a loss of Rs 17,318 crore for the March quarter (Q4) of financial year 2019-20 (FY20) on the back of inventory losses and low fuel demand because of the global Covid-19-induced slowdown. It had recorded a profit before tax of Rs 9,020 crore in the corresponding quarter in FY19.

Bharti Infratel: On Wednesday decided to push the deadline for completion of merger with Indus Towers by over two months till August 31, according to a regulatory filing.

General Insurance Corporation (GIC Re)  has reported a 7.8 per cent decline in pre-tax profit in Q4FY20. The reinsurer’s pre-tax profit for the March quarter stood at Rs 1,101 crore compared to Rs 1,194 crore in Q4FY19. Net profit of the reinsurer jumped 98 per cent to Rs 1,197 crore in Q4FY20 compared to 603 crore in the same period a year ago due to lower tax provisions.
 

BPCL: BPCL is planning to raise up to Rs. 3,000 crore during the current financial year 2020-21 through private placement of unsecured non-convertible debentures subject to market conditions, it said in an exchange filing. 

PFC: Power Finance Corporation (PFC) on Wednesday reported about 80 per cent decline in consolidated net profit at Rs 693.71 crore for the quarter ended March 2020, mainly due to transaction exchange loss.

Net profit of Karur Vysya Bank rose 39.45 per cent to Rs 83.70 crore in the quarter ended March 2020 as against Rs 60.02 crore during the previous quarter ended March 2019.

IndusInd Bank: The legal battle in the Hinduja family, which could result in a partition of family assets, is likely to delay their plan to increase stake in IndusInd Bank. The bank is promoted by holding companies IndusInd International Holdings and IndusInd, which are predominantly controlled by Ashok Hinduja, the youngest among the four Hinduja brothers.

United Breweries: The company Wednesday reported a 39.27 per cent decline in its consolidated net profit to Rs 41.82 crore for the fourth quarter ended March 2020. The company had posted a net profit of Rs 68.87 crore during the January-March quarter of the previous financial year, UBL said in a regulatory filing.

Embassy REIT: Blackstone on Wednesday raised around $300 million (about Rs 2,270 crore) by selling its units in Embassy Office Parks REIT to monetise part of its investment, said sources in the know.

TCS: Tata Consultancy Services has successfully implemented a unified partner commerce platform for Zebra Technologies, a market leader in industry-tailored solutions that intelligently connect people, assets and data.