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Stocks in the News: Cipla, Lupin, Jubilant Food Works, Graphite India, Venky's and Adani Green
Nifty futures on the
Singapore Exchange were trading 44.50 points, or 0.41 per cent, higher at
11,004.50, indicating a firm start for the Nifty50. Here are a few stocks which
may buzz the most in today’s sessions.
Cipla, Lupin: JSW Steel, Graphite India, Allahabad Bank, CiplaNSE -0.33 %,
Lupin, IGL, Siemens, PTC India, Venkys, Zydus Wellness, Jindal Stainless,
Balkrishna Industries CG Power, Future Consumer and Punj Lloyd are among
companies set to announce their December quarter results on Tuesday.
Jubilant Food Works, Jubilant Life Sciences: The two companies promoted by the diversified Jubilant Bhartia Group, withdrew their decisions to pay royalty to the Bhartia family effective FY20, a move that a lot of analysts had questioned.
Adani Green Energy: The Company said its arm Mahoba Solar (UP) Private Ltd has bagged a 390 MWac capacity hybrid renewable energy project. The Solar Energy Corporation of India had floated the tender for the project.
IDFC First Bank: Private sector lender IDFC First Bank Tuesday reported a net loss of Rs 1,538 crore during the December 2018 quarter, due to one-time exceptional charge to its profit and loss account (P&L) for amalgamating Capital First with itself.
NTPC: Power producer NTPC has agreed not to regulate electricity supply to Telangana, Andhra Pradesh and Karnataka over pending dues after assurance by distribution companies to clear the arrears soon, sources said. The state-run entity on January 30 had issued notices to various discoms in the three states for not clearing bills of more than Rs 4,200 crore pending for over 60 days.
Reliance Industries: Chairman Mukesh Ambani Tuesday met Saudi Aramco CEO Amin Nasser, Saudi Arabia's national oil company said. RIL plans to expand its only-for-exports SEZ refining capacity to just over 41 million tonnes from current 35.2 million tonnes but does not have any plans to set up a new refinery in the country.
Inox Leisure: Multiplex operator Inox Leisure Tuesday reported over twofold jump in consolidated net profit to Rs 36.46 crore in the December 2018 quarter.
DLF: Realty major DLF Tuesday reported a 92 per cent drop in its consolidated net profit at Rs 335.15 crore for the third quarter of this fiscal, as it had posted an exceptional profit in the year-ago period from stake sale in rental arm to GIC. Its net profit stood at Rs 4,091.27 crore in the year-ago period, the company said in a regulatory filing.
Usha Martin: The company said its consolidated net loss narrowed to Rs 35.46 crore in the October-December quarter of 2018-19 from Rs 111.07 crore in the year-ago quarter. Total income during the quarter under review grew to Rs 630.88 crore from Rs 509.85 crore during the October-December quarter of 2017-18, Usha Martin said in a BSE filing.
BhartiAirtel: Moody's Investors Services lowered Bharti
Airtel’s senior unsecured rating to junk on worries about weak cash flows for
several quarters ahead. Bharti was cut to Ba1 from Baa3, the lowest in the
investment grade, possibly increasing the cost of borrowing, especially
overseas, by around 30-50 basis points, analysts said.
Positive momentum in the
index heavy weights helped domestic indices post a strong start to Wednesday's
session, so much so that the Nifty 50 pack reclaimed the crucial 11,000 mark for
the first time in over three months. The BSE barometer Sensex jumped over 250
points in early trade.
The gains were supported
firm trading in other Asian markets. Following the much-awaited Trump speech
earlier in the day, reports emerged that Senior US and Chinese officials are
poised to start another round of trade talk in Beijing next week, assuaging
investors of a possibility of a US-China trade truce.
At 9.30 am, Sensex was
trading 258 points higher at 36,875 while NSE Nifty was up 74 points at 11,009.
Shares of Suzlon Energy jumped nearly 6 per cent on Wednesday morning
after the firm yesterday clarified that it was regular in servicing its debt
obligations including servicing obligations towards banks and others for the
month of January 2019. The scrip hovered at Rs 3.84 up 5.79 per cent at around
09:32 am while the benchmark BSE Sensex was up 0.71 per cent at 36,875.95.
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