NIIT, PNB Gilts, SRF, DLF, PI Industries, Chemfab Alkalis, Safari Industries, and Tourism Finance Corporation are among 15 companies that are scheduled to announce their March quarter earnings today
Nifty futures on the Singaporean Exchange were trading at 10,053, down 31 points or 0.31 per cent, signalling a muted start for the BSE Sensex and Nifty 50 on Thursday. Despite favourable global cues, market participants can witness some volatility on the back of weekly expiry today, coronavirus related development and corporate earning. On Wednesday, foreign institutional investors (FIIs) bought shares worth Rs 1,851.12 crore, while domestic institutional investors (DIIs) sold shares worth Rs 781.79 crore on a net basis, according to the provisional data available on the NSE. “The benchmark may take a breather and see some consolidation before the further surge. Meanwhile, there’ll be no shortage of opportunity on the stock-specific front so plan your trades accordingly,” said Ajit Mishra, VP – Research, Religare Broking Ltd.
Stocks in focus:
HDFC Life: Housing Development Finance Corporation (HDFC), promoter of HDFC Life, on Wednesday sold 2.6 crore shares of the insurance company worth a little over Rs 1,274 crore through an open market transaction. According to bulk deal data available with the BSE, a total of 2,60,00,000 shares of HDFC Life Insurance Company Ltd were sold by its promoter HDFC, the data showed, PTI reported.
DLF, PI Industries: NIIT, PNB Gilts, SRF, DLF, PI Industries, Chemfab Alkalis, Cosmo Films, Filatex India, Igarashi Motors India, IL&FS Transportation Networks, Safari Industries, and Tourism Finance Corporation are among 15 companies that are scheduled to announce their March quarter earnings today.
Reliance Industries: RIL’s Rs 153,124 crore rights issue completed with a subscription of nearly 1.59 times. The public portion of the rights issue was subscribed 1.22 times. The allotment of the equity shares will take place on or about June 10, 2020. Besides, Facebook will acquire 9.9 per cent stake in Jio Platforms announced last month via a new entity — Jaadhu Holdings LLC, as per regulatory documents.
BPCL: BPCL reported a consolidated loss of Rs 1,819.6 crore for the quarter ended on March 31. The company had posted a profit at Rs 2,051.4 crore in the preceding quarter. In a separate statement to the BSE on Wednesday, BPCL said the whole of oil industry including BPCL witnessed a significant drop in crude oil prices and general fall in demand for products in the aftermath of Covid-19. The impact of COVID-19 pandemic on the physical and financial performance of the company for the year 2019-20 was lesser as compared to the months of April and May 2020, as the nationwide lockdown was announced only in the last week of the financial year 2020.
Aurobindo Pharma: Aurobindo Pharma reported a 45.2 per cent increase in its net profit to Rs 849.8 crore for the fourth quarter as against Rs 585.4 crore during the same quarter in FY19. Revenues stood at Rs 6,158.4 crore, a growth of 16.4% over the corresponding previous period