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Stocks to watch: RIL, Tata Motors, RBL Bk, Adani Gas, SBI Cards, SKF India

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

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stocks to watch | Stocks in focus | Markets Sensex Nifty

SI Reporter  |  New Delhi 

investor, investment, markets, stocks, shares
Private sector lender RBL Bank on Thursday reported a 58 per cent decline in pre-tax profit for the quarter ending March, 2020.

At 08:41 am, Nifty futures on the Singapore Exchange (SGX) were trading 95 points or 1 per cent higher at 9,299.50, indicating a positive start for the Indian market on Friday.

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

RIL: Reliance Jio Platforms, part of Mukesh Ambani-controlled Reliance Industries group, has sold a 2.32 per cent stake to US-based private equity firm Vista Equity on a fully diluted basis for Rs 11,637 crore. That apart, the company is considering selling its stake in India’s largest paint maker Asian Paints, valued at about $989 million as the conglomerate steps up efforts to trim its debt.

Tata Motors: Tata Motors announced that the Company has decided to withdraw the issue for private placement of unsecured NCDs aggregating up to Rs 1000 crore in view of the higher cost expectations from the market participants due to the tight money market conditions.

Earnings today: As many as 13 firms, including Adani Gas, Reliance Home Finance, Reliance Power, Reliance Infra and SBI Cards, are slated to report their March quarter results later in the day.

RBL Bank: Private sector lender RBL Bank on Thursday reported a 58 per cent decline in pre-tax profit for the quarter ending March, 2020 on account of higher provisioning for bad loans and Covid-19. In Q4FY20, the bank’s pre-tax profit stood at Rs 151 crore compared to Rs 360 crore in Q4FY19. The net profit of the bank also declined 54 per cent to Rs 114.36 crore from Rs 247.18 crore. READ MORE

SKF India: The company announced that the board of directors of the company has recommended a special dividend of Rs 130 per share for the financial year ended 31 March 2020.

YES Bank: The auditor of YES Bank has pointed out multiple breaches of the Reserve Bank of India’s (RBI’s) norms and loan covenants by the private bank in the financial year ended March 2020, warning that these may impact the bank’s ability to continue as a going concern.

Cyient: Net profit of Cyient declined 74.41 per cent to Rs 45.20 crore in the quarter ended March 2020 as against Rs 176.60 crore during the previous quarter ended March 2019.


ICICI Securities: Net profit of ICICI Securities rose 28.26 per cent to Rs 155.88 crore in the quarter ended March 2020 as against Rs 121.53 crore during the previous quarter ended March 2019. Sales rose 17.73 per cent to Rs 480.44 crore in the quarter ended March 2020 as against Rs 408.10 crore during the previous quarter ended March 2019.

First Published: Fri, May 08 2020. 08:43 IST
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