Stocks in focus: HDFC Bank, HUL, Vodafone Idea, Yes Bank, SBI Cards, Cadila Healthcare

By: |
Published: July 20, 2020 8:54 AM

Investors will continue to watch corporate earnings, coronavirus cases trend and geopolitical developments. Besides, stock-specific action, oil prices and rupee trajectory will sway investor sentiment

HDFC bank, stocks in focus, hulwe would advise investors to continue with their defensive portfolio approach

Nifty futures were trading 19.70 points or 0.18 per cent lower at 10,911.30 on Singaporean Exchange, suggesting a tepid start for BSE Sensex and Nifty 50 on Monday. Investors will continue to watch corporate earnings, coronavirus cases trend and geopolitical developments. Besides, stock-specific action, oil prices and rupee trajectory will sway investor sentiment. “We would continue witnessing stock specific action as the earnings season unfold. Though the near term momentum looks positive, we would advise traders to be cautious, given flaring US-China trade relations, persistent rise in virus cases and implementation of fresh lockdowns in parts of the country. On the other hand we would advise investors to continue with their defensive portfolio approach,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

HDFC Bank: HDFC Bank’s Managing Director and Chief Executive Officer Aditya Puri has said that his preferred successor is an internal candidate who has spent 25 years at the lender. However, he did not name the candidate, according to a PTI report. The bank posted a 19.6 per cent growth in net profit to Rs 6,658.62 crore from Rs 5,568.16 crore in Q1 FY20.

Hindustan Unilever: Thirty-three employees of a unit of Hindustan Unilever here have tested positive for COVID-19 in two days, PTI cited officials as saying. The unit has been closed temporarily on the orders of the district magistrate and its premises thoroughly sanitised.

Vodafone Idea: Vodafone Idea on Friday further paid Rs 1,000 crore to the Department of Telecommunications (DoT) towards the adjusted gross revenue (AGR). Supreme Court in the last hearing held on June 18, 2020, had “requested (telecom operators) to make payments of reasonable amount also to show their bonafides, before the next date of hearing.”

Telecom stocks: The Supreme Court is expected to hear the adjusted gross revenue (AGR) case on Monday, July 20. Bharti Airtel has paid Rs 18,000 crore so far and has a balance amount of Rs 25,980 crore to be paid to DoT. All the telecom stocks will remain in focus today.

Yes Bank: Yes Bank’s Rs 15,000 crore follow-on public offer (FPO) saw subscription surge to 93% on the last of bidding. The price bank of Rs 12-13 per share for the FPO is at a significant discount to the trading price of the stock.

SBI Cards, ACC: ACC, Den Networks, and SBI Cards and Payment Services, Bombay Dyeing, CSL Finance, Indo Amines, Maharashtra Scooters are among companies that are scheduled to announce their quarter earnings today.

Cadila Healthcare: Zydus Cadila has received final approval from the USFDA to market Butalbital, Acetaminophen and Caffeine Tablets in the strengths 50mg/325mg/40 meg. This combination of medication is used to treat symptom complex of tension (or muscle contraction) headache.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Airtel, HDFC Bank, RIL drag Sensex, India VIX at 6-month low; check what kept investors on edge today
2Castor seeds contract case: Sebi lifts trading ban on Ruchi Global, Ruchi Soya Industries, 3 others
3Investment by PE/VCs halves to $4.1 billion in July: Report