RIL, select bank stocks, Info Edge (India) in focus

Reliance Industries (RIL) said that the Forty-third Annual General Meeting (Post-IPO) (AGM) of the members of the company will be held on 15 July 2020 at 02:00 p.m. IST through Video Conferencing (VC) / Other Audio-Visual Means (OAVM).

Select bank stocks will be in focus. Fitch Ratings has revised the outlook to negative from stable on the long-term issuer default ratings (IDR) of select banks, while affirming their IDRs, Support Ratings (SR) and Support Rating Floors (SRF). The banks include State Bank of India (SBI), Bank of Baroda (BOB), Bank of India (BOI), Canara Bank, Punjab National Bank (PNB), ICICI Bank and Axis Bank. At the same time Fitch has affirmed IDBI Bank's IDR while maintaining the outlook at negative.

Info Edge (India) reported 63.68% fall in consolidated net profit to Rs 119.10 crore on 9.04% fall in total income to Rs 533.21 crore in Q4 March 2020 over Q4 March 2019.

Info Edge (India) said that its board of directors approved raising of funds through issue of equity shares by way of Qualified Institutions Placement to eligible qualified institutional buyers for an aggregate amount not exceeding Rs 1875 crore.

Sudarshan Chemical Industries reported 5.77% rise in consolidated net profit to Rs 27.31 crore on 3.77% rise in total income to Rs 450.11 crore in Q4 March 2020 over Q4 March 2019.

Karnataka Bank launched a new product viz. KBL Micro Mitra, wherein financial assistance up to Rs 10 lakh can be provided to the Micro manufacturing and service enterprises either for working capital or for investment purposes. The facility comes with a simplified procedure and competitive rate of interest.

Balaji Amines reported 16.52% rise in consolidated net profit to Rs 30.82 crore on 14.16% rise in total income to Rs 259.58 crore in Q4 March 2020 over Q4 March 2019.

Skipper reported 58.42% rise in consolidated net profit to Rs 28.12 crore on 1.41% rise in total income to Rs 439.88 crore in Q4 March 2020 over Q4 March 2019.

UFO Moviez India reported 79.79% fall in consolidated net profit to Rs 6.78 crore on 43.2% fall in total income to Rs 112.10 crore in Q4 March 2020 over Q4 March 2019.

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