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Stocks in focus: Eicher Motors, BPCL, Aurobindo Pharma, Hero MotoCorp, Indiabulls Housing, IT stocks

Eicher Motors, Bharat Petroleum Corporation, Hero MotoCorp, Tata Steel, GAIL India, Godrej Industries, Grasim Industries, Garden Reach Shipbuilders & Engineers and Shriram Transport Finance are among 178 companies that are scheduled to announce quarterly earnings today

Stocks in focus: Eicher Motors, BPCL, Aurobindo Pharma, Hero MotoCorp, Indiabulls Housing, IT stocks
Hit by the lockdown IGL reported a 57% slump in sales volumes.

Nifty futures were trading just 10 points or 0.09 per cent at 11,324.80 on Singaporean Exchange, hinting at a muted opening for BSE Sensex and Nifty 50 on Thursday. Analysts believe further developments on the stimulus package announcement and US-China trade tension would be actively tracked by the domestic participants for cues. Besides, oil prices, corporate earnings for stock-specific action and rupee trajectory will sway investor sentiment. “Overall trend is positive to range-bound with buy on dips strategy while hurdles are intact at higher levels. Nifty can see an up move towards 11400-11500 and higher while support exists at 11200,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Stocks in focus today:

Eicher Motors, BPCL: Eicher Motors, Bharat Petroleum Corporation, Hero MotoCorp, Tata Steel, GAIL India, Aditya Birla Fashion, APL Apollo Tubes, Balkrishna Industries, City Union Bank, DB Corp, Endurance Technologies, Godrej Industries, Grasim Industries, Garden Reach Shipbuilders & Engineers, Kirloskar Industries, PFC and Shriram Transport Finance are among 178 companies that are scheduled to announce quarterly earnings today.

Aurobindo Pharma: Aurobindo Pharma reported a growth of 22.8 per cent on-year growth in net profit at Rs 780.6 crore. The company had posted a net profit of Rs 635.8 crore in the corresponding previous period. Revenue from operations stood at Rs 5,924.8 crore, a growth of 8.8% over the corresponding previous period.

Ashok Leyland: Hinduja Group flagship firm Ashok Leyland reported a consolidated net loss of Rs 388.82 crore for the first quarter ended June 30. The commercial vehicle maker had posted a net profit of Rs 274.96 crore for the April-June 2019 quarter.

Bharat Forge: Bharat Forge reported a loss of Rs 127.32 crore in the June quarter as compared to a profit of Rs 171.9 crore in the June quarter of the last fiscal. The company reported consolidated revenues of Rs 1,154.2 crore, down 50 per cent on-year with the pandemic and lockdowns taking a toll on the company’s production and sales.

Indiabulls Housing Finance: Indiabulls Housing Finance said former RBI deputy governor S S Mundra has been appointed as its non-executive chairman with immediate effect. The company said its executive chairman Sameer Gehlaut has taken up the position of chief executive officer of another listed firm promoted by him — Indiabulls Ventures Ltd.

IT stocks: The Trump administration has relaxed some rules for H-1B visas holders, allowing them to enter the United States if they are returning to the same jobs they had prior to the proclamation of the visa ban, according to a ANI report. IT stocks will remain in focus today.

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