New Delhi: Indian indices closed lower for the 4th straight day on Wednesday. The 30-share Sensex closed 280.16 points lower at 80,148.88 while the Nifty was down 65.55 points to 24,413.50 on Wednesday. Here are stocks that are likely to be in focus on Wednesday.
DishTV: The ZEEL company’s board approved a proposal tp raise Rs 1,000 crore via share or bond issuance, as well as the incorporation of an entity in India to distribute products and services using its digital platform.
L&T: The engineering behemoth reported an 11.7 per cent rise in net profit to Rs 2,785.7 crore, while revenues rose 15.1 per cent on-year basis to Rs 55,119.8 crore.
Jindal Steel: The steelmaker reported a 20.9 per cent decline in Q1 net profit to Rs 1,337.9 crore, while revenues were up 8,2 per cent on-year basis to Rs 13,617 crore.
RBL Bank: The lender’s stock will be in focus as Maple II BV is likely to offload its complete stake in the bank through block deals valued at Rs 226 per share.
SBI Life: The insurer reported a slip in demand for ULIPs while announcing plans to introduce a simple protection plan with SBI.
ITC: The tobacco to hotels conglomerate rebounded to the third spot in the global tobacco company rankings, after US-listed Philip Morris and Altria Group.
CG Power: The contract manufacturer is set to acquire a 55 per cent stake in GG Tronics for Rs 319.4 crore.
HUDCO: The construction finance giant inked a Rs 1,000 crore agreement with the Rajasthan government for the financing of infrastructure projects.
Alembic Pharma: The pharma major has received the US FDA and ANDA’s nod for medication to treat certain mental/mood disorders (such as schizophrenia) called Luphenazine Hydrochloride Tablets.
Federal Bank: The lender’s board has approved plans for a fundraising of up to Rs 6,000 cr via securities.
KEC International: The comoany secured Rs 1,422 crore from the PowerGrid Corp and US-based clients to offer power transmission and distribution.
V-Guard: The electronics manufacturer reported a 54 per cent jump in Q1 net profit to Rs 99 crore. The company reported improved margins as its revenues rose 21.5 per cent to Rs 1,477 crore.
IFCI: The company’s share price rose 20 per cent on Wednesday. The company’s market cap stood at Rs 21,942 crore.
HCC: Hindustan Construction Company’s share price rose over 14 per cent on Wednesday. The company’s stock was forecast to surge over 60 per cent by Elara Securities in June.
Suzlon: The renewable energy company’s stock has been performing well after it reported strong Q1 earnings of Rs 302.29 crore, up 3X from the year-ago period.
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Stocks in News Today: From IFCI to V-Guard, here are stocks that are likely to remain in focus on Thursday. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
