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Hindalco, Tata Global, Lupin, Jubilant Food, Pidilite top stocks to watch

Here's a look at the top stocks that are likely to remain in focus today -

SI Reporter  |  New Delhi 


At 08:20 am, on the Singapore Exchange (SGX) were trading flat at 11,261, indicating a muted start for the Nifty50 index back home.

Here's a look at the top stocks that are likely to remain in focus today -

Industries: Within days of the European Commission rejecting the merger of Tata Steel’s European unit with Thyssenkrupp’s steel business, the Commission on Tuesday “stopped the clock” on its in-depth investigation into Novelis’ proposed acquisition of Aleris. Novelis is 100 per cent subsidiary of Industries.

Earnings today: Over 80 companies including Central Bank of India, Jubilant FoodWorks, Lupin, Adani Green Energy, Amara Raja Batteries and Vivanta Industries are scheduled to announce their Q4FY19 results today.

Tata Group stocks: The group may make an announcement on Wednesday about transferring the consumer products business of Tata Chemicals to Tata Global (TGBL) as part of a larger mandate to bring food and beverages under one unit.

India: FMCG major India Tuesday reported a 9.25 per cent rise in profit to Rs 463.28 crore for the first quarter ended March 31, 2019. Total income in the quarter stood at Rs 3,076.14 crore. It was Rs 2,813.6 crore in the corresponding period last year, India said in a BSE filing.

Jet Airways: Grounded Jet Airways has been left without any top-level executive, days after Abu Dhabi-based Etihad put in its letter of interest to re-invest in the airline as a minority partner. The top executives who have put in their papers with immediate effect include Jet’s chief executive officer (CEO) Vinay Dube, chief finance officer (CFO) and deputy CEO Amit Agarwal and company secretary Kuldeep Sharma.

DHFL: Rating agency CARE Ratings has downgraded rating for Dewan Housing Finance's (DHFL) debentures from "A" to "BBB-" on delay in announcement of strategic investor as a part of reorganisation of the company.

Indian Oil Corporation: The National Green Tribunal (NGT) has slapped an interim penalty of Rs 17.31 crore on Indian Oil Corporation Limited's Panipat refinery for violation of environmental norms.

Pidilite Industries: The company reported sales growth of nearly 10 per cent YoY to nearly Rs 1,639 crore. However, lower EBITDA margin coupled with exceptional loss of nearly Rs 11 crore resulted in nearly 4 per cent YoY decline in earnings at Rs 237 crore.

Endurance Tech: Net profit of Endurance Technologies rose 27.75 per cent to Rs 148.65 crore in the quarter ended March 2019 as against Rs 116.36 crore during the previous quarter ended March 2018. Sales rose 9.55 per cent to Rs 1,900.36 crore in the quarter ended March 2019 as against Rs 1,734.76 crore during the previous quarter ended March 2018.

ZEE Media: The company on Tuesday reported 73.1 per cent decline in its consolidated profit after tax (PAT) at Rs 13.17 crore against Rs 49 crore in the year-ago period.

Orchid Pharma: Orchid Pharma on Tuesday informed the exchanges it has received abbreviated new drug application (ANDA) approval from the US FDA for Risedronate Sodium tablets USP, 30 mg and 35 mg.

NBCC: The National Company Law Appellate Tribunal (NCLAT) refused Tuesday to stay voting by Committee of Creditors (CoC) of Jaypee Infratech Limited (JIL) in which the lenders are set to decide on NBCC India Limited’s offer for the debt-laden realty firm.

First Published: Wed, May 15 2019. 08:23 IST