Stocks in focus: ICICI Bank, IndiGo, Titan, BoB, Kotak Mahindra Bank, Motherson Sumi Systems, RITES

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August 11, 2020 9:04 AM

Ashoka Buildcon, Bajaj Electricals, Bosch, Indoco Remedies, JMC Projects, Metropolis Healthcare, Motherson Sumi Systems, RITES, and VST Tillers Tractors, are among 90 companies that scheduled to announce their quarterly earnings today.

icici bank, titan company, stocks in focusThe markets are likely to remain volatile, with more stock-specific action as the earnings season progresses

Nifty futures were trading 65.80 points or 0.58 per cent higher at 11,359.80 on Singaporean Exchange in early deals, suggesting a higher start for BSE Sensex and Nifty 50 on Tuesday. Market participants will track the industrial output data for the month of June scheduled to be released later in the day today. Besides, COVID-19 cases, geopolitical tensions, global cues, stock-specific actions and corporate results will continue to sway investor sentiment. “With the rising US-China tensions and resurging COVID cases, the uncertainties are increasing. The markets are likely to remain volatile, with more stock-specific action as the earnings season progresses. Investors would watch out for development over US-China tension while any announcement of US stimulus could bring some cheer,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Stocks in focus today:

ICICI Bank: Private sector lender in an exchange filing informed about the launch of its qualified institutional placement (QIP). It has set the floor price at Rs 351.36 per share.

IndiGo: Interglobe Aviation, which runs India’s largest airline IndiGo, said on Monday it will raise up to 40 billion rupees ($533.70 million) through the sale of shares to institutional investors, as it looks to manage cash during the COVID-19 pandemic which has hit its operations, according to Reuters.

Titan Company: Tata group firm Titan reported a consolidated net loss of Rs 297 crore for the April-June quarter. The company had reported a net profit of Rs 364 crore in the corresponding period of the preceding fiscal.

Bank of Baroda: BoB reported a standalone net loss of Rs 864 crore during the quarter ended June 30 of the current fiscal year. The bank had posted a net profit of Rs 710 crore in the same quarter a year ago.

Kotak Mahindra Bank: The private sector lender said that it had achieved full compliance with the Reserve Bank of India’s (RBI) requirement on promoter shareholding. Promoter Uday Kotak had been asked in February this year to reduce his stake in the lender to 26 per cent over a six-month period.

Motherson Sumi Systems, RITES: Ashoka Buildcon, Bajaj Electricals, Bosch, Capacite Infraprojects, Central Bank of India, Chalet Hotels, Indoco Remedies, JMC Projects, Metropolis Healthcare, Motherson Sumi Systems, PTC India, RCF, RITES, Suven Life Sciences, Symphony, and VST Tillers Tractors, are among 90 companies that scheduled to announce their quarterly earnings today.

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