Stocks in focus: Bharti Airtel, HDFC, ITC, Avenue Supermarts among others to remain in action today

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Published: May 26, 2020 9:05 AM

8K Miles, Blue Dart, Coromandel International, Deepak Nitrite, Jaiprakash Power, Max Financial Services, Wonderla Holidays, VIP Industries, Torrent Pharmaceuticals and Praj Industries are among 19 companies which are scheduled to announce their March quarter earnings today

FIIs sold shares worth Rs 1,353.9 crore, and DIIs also sold shares worth Rs 344.16 crore on net basis on Friday

The Nifty futures were trading at 9,156, up 115 points or 1.27 per cent on the Singaporean Exchange, indicating a positive start for Sensex and Nifty on Tuesday. Indian equity benchmarks would also react to global cues, quarterly earnings and newsflow of coronavirus. The total number of COVID-19 cases in India is nearing 1,40,000-mark. Foreign institutional investors (FIIs) sold shares worth Rs 1,353.9 crore, and domestic institutional investors (DIIs) also sold shares worth Rs 344.16 crore on net basis on Friday, according to the provisional data available on the NSE.”Stocks in focus today:

Stocks in focus today:

Bharti Airtel: Bharti Airtel promoter firm Bharti Telecom plans to raise USD 1 billion through equity sale to become debt-free, according to a source aware of the development. The promoter firm Bharti Telecom plans to dilute 2.75 per cent stake with floor price of Rs 558 per share through secondary placement, PTI reported.

HDFC: HDFC reported a 21.97 per cent on-year decline in net profit at Rs 2,233 crore for the quarter ended March 31. The company had reported a profit of Rs 2,862 crore in the corresponding quarter of last year. While the provisions stood at Rs 10,988 crore at the end of the March quarter.

Max Financial Services, Deepak Nitrite: 8K Miles, Blue Dart, Coromandel International, Deepak Nitrite, Jaiprakash Power, Max Financial Services, Wonderla Holidays, VIP Industries, Torrent Pharmaceuticals and Praj Industries are among 19 companies which are scheduled to announce their March quarter earnings today.

Avenue Supermarts: Avenue Supermarts consolidated net profit rose 41.6 per cent to Rs 271.28 crore in the March quarter. The company had reported a net profit of Rs 191.57 in the corresponding quarter of last year.

ITC: ITC to acquire Sunrise Foods: Diversified business entity ITC Ltd on Sunday said it will fully acquire spices manufacturer Sunrise Foods Private Ltd (SFPL). While the company did not disclose the value of the deal, sources said it is valued around Rs 1,800 crore to Rs 2,000 crore, PTI reported.

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