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Stocks to watch: Bharti Airtel, Vodafone Idea, ONGC, Union Bank, IOC

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

SI Reporter  |  New Delhi 

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At 08:35 am, Nifty futures on the Singapore Exchange (SGX) were trading 34.50 points or 0.29 per cent higher at 11,922, indicating a positive start for the Indian market on Friday.

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

Bharti Airtel, Vodafone Idea: Bharti Airtel on Thursday reported a pre-tax loss of Rs 31,334 crore for the September quarter (Q2), after the company provided for outstanding payments to the central government on account of the Supreme Court judgment on adjusted gross revenues (AGR). The pre-tax loss in the year-ago quarter stood at Rs 1,998 crore.

On the other hand, Vodafone Idea reported a massive pre-tax loss of Rs 36,959 crore for the July-September quarter after it provided for payments related to adjusted gross revenues, or AGR. The company took a hit of Rs 30,774 crore (including AGR) for the quarter. This led to a loss of Rs 50,922 crore at the net level, the highest-ever for an Indian company.

ONGC: State-owned Oil and Natural Gas Corporation (ONGC) on Thursday reported a 36.2 per cent drop in second quarter net profit as it faced double whammy of fall in oil production and drop in prices.

Union Bank: State-owned Union Bank of India on Thursday reported a net loss of Rs 1,194 crore for July-September due to higher provisioning. The bank had a net profit of Rs 139 crore in the same quarter of 2018-19.

Suzlon Energy: Suzlon Energy on Thursday reported widening of its consolidated net loss to Rs 777.52 crore in the quarter ended September 30, 2019. The company had reported a net loss of Rs 625.76 crore in the corresponding quarter last fiscal, Suzlon Energy said in a BSE filing.

Dr Reddy's: Dr Reddy's Laboratories on Thursday announced its entry into India's nutrition segment with the launch of diabetes nutrition drink 'Celevida'.

Indian Oil: Government plans to reduce its stake in Indian Oil Corp. to below 51 per cent while ensuring the government and state-run companies retain control of the nation’s largest oil refiner, Bloomberg reported citing sources.

First Published: Fri, November 15 2019. 08:37 IST
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