Bharti Airtel, Avenue Supermarts, BPCL, Nestle, Vodafone Idea
New Delhi: Here is a list of top 10 stocks that may be in focus on Friday:
Bharti Airtel: The stock will be in focus as the Supreme Court will today hear the modification pleas filed by the company along with other telecom firms Vodafone Idea Ltd and Tata Teleservices on the time schedule to make payments of over ₹1 trillion that they owe to Department of Telecommunications (DoT) in adjusted gross revenues (AGR). In a 24 October judgment, the SC had upheld the DoT’s definition of AGR, dealing a severe blow to telcos.
BPCL: The state-owned fuel retailer’s net profit for the December quarter almost trebled to ₹2,051.43 crore. The company had posted a net profit of ₹698.62 crore in the corresponding period last year. Revenue from operations, however, fell to ₹85,927 crore from ₹89,325 crore a year ago.
Vodafone Idea: The telecom operator reported a net loss of ₹6,438.8 crore for the quarter ended December, sharply lower than ₹50,922 crore a quarter ago. Net loss had surged during July-September as the company had factored in major liabilities related to adjusted gross revenues.
Avenue Supermarts: The company, which owns and operates the popular supermarket chain DMart, on Thursday said its promoters will sell up to 2.28% stake through an offer for sale. The share sale will see promoters Radhakishan Damani, Gopikishan Damani, Shrikantadevi Damani and Kirandevi Damani sell 14.8 million shares. A floor price of ₹2,049 has been announced for the sale.
Nestle: The domestic arm of the Swiss fast moving consumer good giant reported a net profit of ₹473.02 crore for the December quarter, up 38.4% year-on-year. Net profit rose due to lower tax expense and strong domestic sales during the reporting quarter. The company had posted net profit of ₹341.76 crore in the year-ago quarter.
TCS: The IT services giant on Thursday said its board, in a meeting, approved and extended the term of the company’s chief financial officer (CFO) V Ramakrishnan for a little over 1 year. Ramakrishnan will remain CFO until 30 April, 2021.
ONGC: The state-owned energy company will announce its earnings for the December quarter today. Separately, public-sector exporting firm MMTC Ltd will also report its financial results for the third quarter.
Future Retail: The company’s net profit fell 16.7% from a year ago to ₹165 crore for the December quarter. Revenue from operations declined 3.3% to ₹5,193.2 crore for the third quarter of this financial year.
Page Industries: The licensee of inner and athleisure wear Jockey International and Speedo in India and Sri Lanka on Thursday reported a 14.6% year-on-year fall in its net profit to ₹87 crore for the December quarter. Revenue from operations, however, rose 7.5% on year to ₹793.8 crore.
Apollo Hospitals: The healthcare company’s net profit increased by 9% to ₹94.8 crore for the quarter ended December. Revenue from operations also jumped 16.6% year-on-year to ₹2,529.5 crore in the third quarter of the current fiscal.
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