Yes Bank, Vodafone Idea, Aurobindo Pharma, PSU oil cos
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New Delhi: Here is a list of top 10 stocks that may be in focus on Thursday:
Yes Bank: The private lender on Wednesday said it has received non-binding expressions of interest from at least four prominent investors. The bank also said it is in the process of fundraising, which will delay the announcement of its earnings for the December quarter to on or before 14 March. Separately, India Ratings and Research has downgraded the bank due to a delay in fundraising and lack of clarity around the amount that the lender wants to raise.
Oil marketing firms: The Organisation of the Petroleum Exporting Countries (Opec) on Wednesday slashed its outlook for 2020 global oil demand growth by 0.99 million barrels per day (mbpd), attributing “most of the downward revision” to coronavirus outbreak in China. A reduction in demand growth outlook has raised concerns over Opec considering a production cut.
HAL: The state-owned aerospace and defence company will today announce its earnings for the quarter ended December. Separately, public-sector fuel retailer Bharat Petroleum Corporation Ltd (BPCL) will also report its results for the third quarter.
Vodafone Idea: The telecom company will today announce its earnings for the third quarter. Investors will watch this space as the firm is mandated to clear its dues to the department of telecommunications (DoT) after an unfavourable Supreme Court verdict in the adjusted gross revenue case. The telecom operator, in its financial results, will also factor in the tariff hikes announced in December.
Godrej Industries: The company will today announce its earnings for the three months ended December. Separately, logistics firm Allcargo Logistics Ltd will also report its financial results for the third quarter.
Aurobindo Pharma: The company on Wednesday informed the stock exchanges that it has completed the acquisition of some business assets of Profectus BioSciences Inc, a clinical-stage vaccine development company of Auro Vaccines LLC. Auro vaccines is a 100% subsidiary of Aurobindo Pharma USA Inc, which is an arm of the Indian pharmaceutical company.
Federal Bank: The Kerala-based private lender on Wednesday said it has appointed Sudarshan Sen on its board as an additional non-executive independent director for five years with effect from 11 February.
Ashok Leyland: The heavy-duty vehicle maker on Wednesday reported an 86.7% year-on-year fall in consolidated its net profit to ₹57.11 crore due to a slump in volumes. Revenue from operations of the Hinduja group flagship company declined 36.5% to ₹4,015.6 crore in the December quarter.
Torrent Power: The company on Wednesday said its net profit rose 77% year-on-year to ₹419.4 crore for the December quarter. However, revenue from operations declined 5.4% from the same period last financial year to ₹3,079 crore.
NBCC: The state-owned management consulting company on Wednesday said its net profit slipped 40.8% year-on-year to ₹49.5 crore for the December quarter. Revenue from operations was down 20.9% from a year ago to ₹1,930 crore.
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