Asian shares skidded on Thursday following a rout on Wall Street after Apple Inc cut its revenue forecast for the first time in nearly 12 years, blaming weaker iPhone sales in China. Its shares crashed nearly 10 per cent overnight. That apart, a slowdown in US factory activity in December too, affected sentiment on Wall Street. This is likely to steer indices back home.
Here's a look at the top stocks that may remain in focus today -
Sun Pharma: Drug major Sun Pharma on Thursday completed acquisition of Japan-based Pola Pharma to strengthen its presence in dermatology segment across the globe. The acquisition of 100 per cent shares of Pola Pharma Inc Japan by the company’s wholly owned subsidiary has been concluded, it said in a BSE filing.
Nestle India: FMCG major Nestle on Thursday welcomed the Supreme Court's order that allowed NCDRC to proceed with a three-year-old suit with regard to Maggi filed by the government only on the basis of laboratory test reports by CFTRI.
HDFC: The mortgage lender announced that during the quarter ended 31 December 2018, it assigned loans amounting to Rs 6,959 crore compared to nil in the corresponding quarter of the previous year. Individual loans sold in the preceding 12 months amounted to Rs 22,732 crore compared to Rs 12,078 crore in the corresponding period of the previous year.
Power Grid: The state-owned Power Grid Corporation Thursday said its board has approved investment proposals worth Rs 379.45 crore.GM Breweries: The company reported 25.1 per cent drop in its Q3 net profit at Rs 16.7 crore. Ebitda came in at Rs 24.9 crore, down 27.2 per cent. Revenue was up at 5.7 per cent at Rs 124.6 crore.
NHPC: The company in a BSE filing said that the shutdown of Parbati-III Power Station will cause tentative loss of 35.1 MUs in production of electricity and 6.5% in PAF. The tentative financial loss based on the interim order determined by Central Electricity Regulatory Commission (CERC) will be Rs 24.04 crore. The tentative financial loss based on final tariff determination by CERC will be Rs 30.14 crore.
Torrent Power: Torrent Power Thursday said it has been appointed as electricity distribution franchisee for three sub-divisions under Thane urban circle of Maharashtra.