Stocks to watch: SBI, SBI Life, M&M, Lakshmi Vilas Bank, Biocon, IHCL

At 08:34 am, Nifty futures on the Singapore Exchange (SGX) were trading 285 points or 2.88 per cent lower at 9,611, indicating a negative start for the Indian market on Friday. 

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

SBI, SBI Life: The country’s largest lender State Bank of India (SBI) will pare 2.1 per cent of its stake in the subsidiary SBI Life Insurance via an offer for sale. The offer for sale will open on June 12 with a floor price of Rs 725 apiece, which is at 2.1 per cent discount from the last close. SBI is expected to mop up almost $202 million via the share sale.

Lakshmi Vilas Bank: As time runs out for capital-starved Lakshmi Vilas Bank (LVB) to infuse money, AION Capital-backed Clix Capital is in talks to buy a majority stake in the private lender. READ MORE

YES Bank: A group of US-based FPIs is looking to pick a stake worth $300 million in YES Bank by investing in its forthcoming share sale via the structured, unsponsored American Depository Receipts (ADR) route, according to this Business Standard report.

IHCL: With the COVID-19 pandemic hitting the hospitality industry hard, the Tata group's Indian Hotels Company Ltd (IHCL) is planning to venture into other areas of revenue generation, including home delivery of food and beverages.

Biocon: Biocon and Mylan announced that the USFDA has approved the New Drug Application (NDA) for Semglee (insulin glargine injection), in vial and pre-filled pen presentations, to control high blood sugar in adults with type 2 diabetes and adult and pediatric patients with type 1 diabetes.

HDFC: Mortgage lender HDFC on Thursday said it will raise up to Rs 4,000 crore by issuing bonds on private placement basis. The issue size of the secured redeemable non-convertible debentures, to open on June 15, 2020, is of Rs 2,100 crore with option to retain over-subscription up to Rs 1,900 crore, HDFC said in a regulatory filing.

Oil-linked stocks may react to slide in oil prices. Brent crude futures was down 3 per cent at $37.40 a barrel early today, having dropped nearly 8 per cent on Thursday.

Mahindra & Mahindra (M&M): The company is likely to report an over 50 per cent dip in bottom-line in its March quarter results (Q4FY20), which are scheduled to be released on Friday. Analysts attribute the drop to decline in the company's volumes during the quarter and lower average selling prices (ASPs). READ MORE

Earnings today: Besides M&M, 29 other companies are scheduled to announce their March quarter results later in the day. The list includes names such as Eicher Motors, Hindalco Industries, Butterfly Gandhimathi, and Castrol India. 

Lupin: Drug firm Lupin on Thursday said it has received approval from the US health regulator to market its generic anthelmintic Albendazole tablets.

Wipro: IT major Wipro on Thursday said its investment arm has invested in cybersecurity firm CloudKnox Security. The investment has been made by Wipro Ventures but the amount invested has not been disclosed.

EID Parry: Net profit of EID Parry (India) declined 0.53 per cent to Rs 157.23 crore in the quarter ended March 2020 as against Rs 158.06 crore in the year-ago quarter. Sales rose 16.42 per cent to Rs 4,245.09 crore in the quarter under review.