Stocks in focus: HPCL, HDFC AMC, SBI Life, Emami, Muthoot Finance, JK Cement, bank stocks

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Published: June 17, 2020 9:08 AM

Emkay Global, Aban Offshore, Fortis Healthcare, Cummins India, Indraprastha Gas, Indostar Capital, ITD Cementation, JK Cement, Mangalam Cement, Muthoot Finance, Natco Pharma, Pidilite Industries and REC are among 46 companies that are scheduled to announce their March quarter earnings on Wednesday.

stocks in focus, SBI life, HDFC AMCMarket sentiment will be dented amid rising tensions between India and China which led to 20 casualties on the Indian side

Nifty futures were trading 66.55 points or 0.67 per cent lower at 9,818.50 on Singaporean Exchange, indicating a negative opening for BSE Sensex and Nifty 50 on Wednesday. Market sentiment will be dented amid rising tensions between India and China which led to 20 casualties on the Indian side. Apart from this, investors will react to the positive results of low doses of dexamethasone can reduce deaths of patients affected by the fast-spreading novel coronavirus. On Wednesday, foreign institutional investors (FIIs) sold shares worth Rs 1,478.52 crore, while domestic institutional investors (DIIs) bought shares worth Rs 1,161.51 crore on a net basis, according to the provisional data available on the NSE.

Stocks in focus today:

Muthoot Finance, JK Cement: Emkay Global, Aban Offshore, Fortis Healthcare, Cummins India, Indraprastha Gas, Indostar Capital, ITD Cementation, JK Cement, Mangalam Cement, Muthoot Finance, Natco Pharma, Pidilite Industries and REC are among 46 companies that are scheduled to announce their March quarter earnings on Wednesday.

HPCL: HPCL reported a net profit of Rs 26.8 crore on a standalone basis for the quarter ended March 31, recording a 99.1 per cent drop from the same period a year ago. The inventory loss in the quarter was Rs 4,113 crore against gains of Rs 1,224 crore in the corresponding period a year ago.

SBI Life: State Bank of India (SBI) informed that it has sold 2.1 per cent stake of its subsidiary SBI Life Insurance Company through the offer for sale route to comply with a minimum public shareholding of 25 per cent. SBI Life Insurance is a joint venture between SBI and French financial services firm BNP Paribas Cardiff.

Bank stocks: Bank stocks will be in focus today as there is hearing on interest waiver case in Supreme Court today.

HDFC AMC: Standard Life Investments, one of the promoters in HDFC Asset Management Company (AMC), has proposed to sell up to 2.82 per cent stake in the company through offer for sale (OFS). The floor price for the sale shall be Rs 2,362 per equity share.

Emami: The company in a regulatory filing informed that operations until the first fortnight of April witnessed significant disruptions in the business and operations of the company affecting the pre-season sale of the company’s summer products. Further, a decline in consumption was also witnessed due to rising unemployment and a significant drop in demand from low-income groups, the company said.

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