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Stocks to watch: Infosys, Axis Bank, DHFL, Siemens, SBI Life, HCL Tech

Here is a list of stocks that could see major movements today

SI Reporter  |  New Delhi 

Stocks to watch: Infosys, Axis Bank, DHFL, Siemens, SBI Life, SpiceJet

At 08:30 AM, Nifty futures on the Singapore Exchange (SGX) were trading 3 points or 0.03 per cent lower at 11,615-mark, indicating a flat to negative start for the Indian market on Wednesday.

Here's a list of top stocks that may remain in focus today:

Infosys: US-based Rosen Law Firm has said it is preparing a class action lawsuit to recover losses suffered by investors in the wake of allegations of "unethical practices" at the IT major.

Earnings today: About 78 companies, including Bajaj Auto, Biocon, HCL Tech, and Hero MotoCorp are slated to report their Q2FY20 earnings later in the day.

Ujjivan Financial Services: Subsidiary company Ujjivan Small Finance Bank has received market regulator Sebi's nod to raise Rs 1,200 crore via an initial public offer (IPO).

SBI Life, ICICI Prudential Life, Siemens, ICICI Bank: In a note on Tuesday, Morgan Stanley said SBI Life Insurance, ICICI Prudential Life and Siemens India are key inclusion candidates in the upcoming review. There are expectations that MSCI may increase the weightage of ICICI Bank in the index to 5.7 per cent.

DHFL: A forensic audit has reportedly found massive fund diversion by the promoters. KPMG, which has carried out the forensic audit, has submitted a draft report to the lenders, which has reportedly found that the DHFL promoters had diverted nearly Rs 20,000 crore of bank loans to its related entities.

Lupin: Received approval from the US health regulator to market its generic Divalproex Sodium extended-release tablets in the American market.

SpiceJet: Harsha Vardhana Singh, independent director, has resigned from the board.

Results impact

Axis Bank: Reported a net loss at Rs 112.1 crore as against a profit at Rs 789.6 crore due to one-time DTA impact. NII came in at Rs 6,102 crore, up 16.6 per cent YoY.

RBL Bank: September quarter profit tanks 73 percent YoY to Rs 54 crore, NII rises 47 percent to Rs 869 crore versus Rs 593 crore YoY.

Asian Paints: Reported a 67.5 per cent YoY rise in consolidated PAT at Rs 823.41 crore for Q2FY20. Consolidated revenue for the quarter rose 9.4 per cent to Rs 5,050.66 crore compared with Rs 4,615.49 crore in the corresponding quarter last year. It also declared an interim dividend of Rs 3.35 per share.

Coromandel International: Consolidated net profit up 37.8 per cent at Rs 504 crore against Rs 365.6 crore, revenue down 3 per cent at Rs 4,858 crore versus Rs 5,008.3 crore, YoY

First Published: Wed, October 23 2019. 08:47 IST
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