Stocks to watch: RIL, IndusInd Bk, Axis Bank, HDFC Life, oil-linked stocks

At 08:30 am, Nifty futures on the Singapore Exchange (SGX) were trading 64.35 points or 0.69 per cent higher at 9,359.50, indicating a positive start for the Indian market on Tuesday. 

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

RIL: Reliance Industries (RIL) said on Monday that its board would consider a proposal to issue equity shares to existing shareholders on a rights basis, during its board meeting on Thursday. The company will also announce its March quarter results on Thursday. READ MORE

Oil-linked stocks are expected to trade actively today as oil prices fell on Tuesday, adding to huge declines in the previous session, on worries about limited capacity to store crude worldwide and expectations that fuel demand may only recover slowly as coronavirus pandemic restrictions are gradually eased.

IndusInd Bank: The bank’s pre-tax profit declined 22 per cent year-on-year (YoY) and 77 per cent quarter-on-quarter (QoQ) to Rs 395.9 crore, and was lower than the Bloomberg Consensus estimate of Rs 403 crore. Despite lower tax expenses restricting the fall in net profit to 16 per cent YoY (Rs 301.8 crore), profit fell significantly short of the Consensus estimate of Rs 412 crore. READ MORE

HDFC Life Insurance reported a 17 per cent decline in pre-tax profit to Rs 284.47 crore in the quarter ending March (Q4FY20), compared to Rs 345.28 in the same period last year. Similarly, net profit declined 14 per cent to Rs 311.65 crore, from Rs 364.68 crore in the same period last year, on account of loss in investment income and higher provisions.

Axis Bank: Double digit loan growth, high credit cost coupled with ballooning of slippages and provisioning to cushion against the likely increase in stressed assets due to the coronavirus (Covid-19) outbreak could hit the net profit of Axis Bank in the March quarter of the financial year 2019-20 (FY20), analysts say. The bank is slated to report its Q4FY20 numbers on Tuesday, April 28.

UPL: The company has completed the acquisition of Yoloo Bio-Tech. The acquisition was announced on November 14.

Indiabulls Real Estate: Senior management has decided to take pay cuts up to an average of 50 per cent for FY21. Vice-Chairman Narendra Gehlaut to draw Nil salary.

Just Dial: To consider share buyback at its board meet on April 30.

Gulf Oil Lubricants: Partially resumes its plant operations at Silvassa. Permission is to supply customers in the essential categories till May 3.

Triveni Engineering: Gear business plant at Mysuru and few EPC sites of water business have partially resumed operations. Sugar and distillery units have been operating normally throughout the lockdown period.

IGSEC Heavy Engineering: Manufacturing plants have partially reopened and construction work has resumed at some of the company’s project sites.

SH Kelkar: Manufacturing units at Vaishali and Vapi have resumed operations partially.

Jagran Prakashan: The company has allotted NCDs worth Rs 150 crore.

Everest Industries: Plants in Madhya Pradesh and Gujarat have resumed operations.

Kirloskar Oil Engines: Resumes operations at its plants in Nashik and Ahmedabad.

Minda Industries: Resumed operations at Pantnagar and Waluj plants. Manufacturing facilities in Spain have also resumed operations.

Havells India: Operations in some of the plant locations have started in certain states.