 "Stock market")
At 08:37 am, Nifty futures on the Singapore Exchange (SGX) were trading 38.50 points or 0.38 per cent higher at 10,270, indicating a positive start for the Indian market on Friday.
Here's a look at the stocks that may remain in focus today -
ITC: ITC is slated to announce its March quarter results for the financial year 2020-21 (FY21) on Friday, June 25. The company, according to analysts, is expected to post up to 14 per cent decline in its cigarette volumes due to hike in excise duty and Covid-19 lockdown. The company's FMCG business may also take some hit while its Hotels business will be impacted most, they say.
Earnings today: Besides ITC, 249 other companies, including Coal India and Glenmark Pharma are expected to announce their March quarter results later in the day
Ashok Leyland: Ashok Leyland Limited has reported loss before tax for the quarter at Rs 72 crore as against profit before tax of Rs 806 crore during the same period a year ago. Loss after tax during the fourth quarter was at Rs 57 crore as against profit of Rs 653 crore, a year ago.
RIL: Fitch Ratings on Thursday said it has upgraded Reliance Industries Ltd''s rating to ''BBB+'' from ''BBB'' as the company''s financial profile has improved following sale of nearly 25 per cent stake in Jio and Rs 53,124 crore equity raise.
Vedanta: Vedanta has moved a step closer to going private with the company securing shareholders’ green light for the proposal. The company on Thursday disclosed the results of the postal ballot for the special resolution seeking voluntary delisting of equity shares from the NSE and BSE. The company obtained 93.3 per cent votes ‘in favour’ of the proposal, while 6.7 per cent ‘against’ vote.
Bank of India on Thursday reported a standalone net loss of Rs 3,571.41 crore for the quarter ended March 31, 2020 due to higher provisions for bad loans.
CONCOR: State-owned Container Corporation of India Ltd (Concor) on Thursday reported a 10.78 percent dip in consolidated net profit to Rs 317.51 crore for the quarter ended March 2020.
IT stocks: Accenture has reported net income for the third quarter of $1.23 billion or $1.90 per share, down from $1.25 billion or $1.93 per share in the year-ago quarter. On average, analysts polled by Thomson Reuters expected the company to earn lesser earnings of $1.85 per share.
IRCTC: The company on Thursday issued a disclosure of material impact of Covid-19 pandemic on the company. It said that due to outbreak of the pandemic, there has been a decrease in Train journeys/ Travels by the passengers due to restriction on public movement, which led to less number of ticket bookings during March, 2020, resulting in drop in e-ticketing earnings.
Apollo Hospital: Apollo Hospital reported a PBT of Rs 263.64 crore during the quarter ended March 31, 2020 as against Rs 111.90 crore, during the same period last year. Total hospital's income rose to Rs 2,926.38 crore from RS 2,511.3 crore during the period under review.
Apollo Tyres: Apollo Tyres' recently commissioned facility in Andhra Pradesh saw its first tyre roll out on Thursday. The unit, seventh globally and fifth in India, is located in the state's Chittoor district. The company plans to invest close to Rs 3,800 crore in phase I of this greenfield facility, which is spread over 256 acres.
IIFL Finance: IIFL Finance stock hit upper limit on Thursday after a regulatory filing showed the promoter holding in the company had breached the 25 per cent threshold following an open market purchase by chairman and chief executive officer (CEO) Nirmal Jain. READ MORE
IIFL Finance: IIFL Finance stock hit upper limit on Thursday after a regulatory filing showed the promoter holding in the company had breached the 25 per cent threshold following an open market purchase by chairman and chief executive officer (CEO) Nirmal Jain. READ MORE
Galaxy Surfactants reported 9.98 per cent rise in consolidated net profit to Rs 62.80 crore in March quarter.
Star Cement: Net profit of the company declined 4.40 per cent to Rs 85.83 crore in the quarter ended March 2020 as against Rs 89.78 crore in the year-ago period. Sales rose 2.80 per cent to Rs 549.38 crore.
Engineers India: Net profit of Engineers India rose 34.56 per cent to Rs 119.69 crore in the quarter ended March 2020 as against Rs 88.95 crore during the previous quarter ended March 2019. Sales rose 39.85 per cent to Rs 864.38 crore.
