Stocks in focus: HCL Tech, Britannia, GAIL, Oil India, IndiGo, SpiceJet, SBI Cards, Marico, PTC India

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Updated: Jul 17, 2020 9:12 AM

ICICI Lombard, Coffee Day Enterprises, Granules India, Hathway Cable, HCL Technologies, Britannia Industries are among 32 companies that scheduled to announce their quarterly earnings later in the day today.

hcl, britannia, stocks in focusThe market continues to remain cautious given flaring US-China trade relations, a persistent rise in virus cases and implementation of fresh lockdowns

Nifty Futures were trading 80.35 points or 0.75 per cent higher at 10,778 on Singaporean Exchange, indicating a gap-up opening for BSE Sensex and Nifty 50 on Friday. Global cues, over one million coronavirus cases in India, ICRA’s revised forecast for the contraction in Indian GDP in FY2021, will sway the investor sentiment. Along with these, stock-specific developments, movement in oil prices and rupee will be keenly watched by market participants. “The market continues to remain cautious given flaring US-China trade relations, a persistent rise in virus cases and implementation of fresh lockdowns. Though the initial success reports in COVID vaccines has brought in some cheer, the ongoing earnings season and management commentary is likely to keep the markets volatile. We would advise traders to stay stock-specific, while investors should be more defensive in their portfolio approach,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Stocks in focus today:

HCL Tech, Britannia Industries: ICICI Lombard, Coffee Day Enterprises, Granules India, Hathway Cable, HCL Technologies, Britannia Industries are among 32 companies that scheduled to announce their quarterly earnings later in the day today.

GAIL, OIL: The Department of Telecommunications (DoT) has withdrawn a demand of over Rs 2.3 lakh crore it had made on state-owned gas utility GAIL India Ltd and explorer Oil India Ltd (OIL) in past telecom dues, the companies informed stock exchanges.

PTC India: The board of directors of PTC India Limited had recommended a proposal to the shareholders regarding dilution of the company’s holding in its subsidiary PTC India Financial Services Limited, according to an official disclosure to the stock exchanges. “Subsequent to delays on account of the ongoing Covid-19 pandemic, requisite internal approvals have been received to reinitiate the process of exploring opportunities for monetizing the company’s investment in PFS,” the company said.

IndiGo, SpiceJet: Civil Aviation Minister Hardeep Singh Puri on Thursday said that Indian carriers will soon start operating flights to some countries in Europe and the United States of America. This will keep InterGlobe Aviation and SpiceJet shares in focus.

SBI Cards and Payment Services: SBI Cards informed that its MD & CEO Hardayal Prasad has taken voluntary retirement from the company. He will cease to be the MD & CEO of the company from July 31, SBI Cards said in a stock exchange filing.

Marico: The board of the company has approved the scheme of amalgamation between Marico Consumer Care and Marico Limited. Besides, the company also informed that its chief financial officer Vivek Karve has resigned from the company. It has appointed its executive vice president & head – finance, Pawan Agrawal as its next CFO, Marico said in a regulatory filing.

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