Stocks in focus: India Cements, Airtel, Vodafone Idea, HFCs, IGL, MTNL stocks to remain in news

Bajaj Consumer Care, Caplin Point Laboratories, CARE Ratings, Gujarat Alkalies, MOIL, Thomas Cook (India), VST Tillers Tractors and Whirlpool of India are among 57 companies that are scheduled to announce their corporate earnings today.

Apple stock split, Wall Street, brokerage, Apple shares, options market
Apple Inc.’s planned stock split in the wake of the surge in its shares and strong earnings is stirring more bets on the company.

Nifty futures were trading 65 points or 0.66 per cent at 9,785 on Singaporean Exchange, indicating a negative start for BSE Sensex and Nifty 50 on Thursday. Along with negative global cues, a spike in coronavirus cases, AGR hearing in Supreme Court and geopolitical tensions between India and China will dent the market sentiment. “We expect the markets to remain volatile and in a consolidation mode for some time, as investors would track global cues and development around India-China border issues. Further, the market would watch out for telecom AGR hearing. We would advise investors to look for buying opportunities on declines in market and also focus more on stock-specific action,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Stocks in focus today:

India Cements: India Cements on Wednesday in a regulatory filing denied reports that Radhakishan Damani is mulling a controlling stake in the company. The company said that the report was factually incorrect.

Bharti Airtel, Vodafone Idea: Supreme Court will hear the adjusted gross revenue (AGR) dues case today as last week it asked the telcos to file replies on their roadmap to pay the dues, how much time they want and what kind of securities can they provide.

Muthoot Finance: Muthoot Finance reported a 59 per cent on-year increase in its standalone net profit for the fourth quarter of the last fiscal at Rs 815 crore. The company had posted a standalone net profit of Rs 512 crore in the corresponding period of the preceding year.

Housing Finance Companies: Reserve Bank of India (RBI) on Wednesday clearly defined the ‘housing finance’ business. The regulator defined HFCs as those that have 50% assets as housing loans and 75% of which should be for individual homebuyers. Housing companies will be allowed to achieve this target in a staggered manner, 60% by March 31, 2022, 70% by March 31, 2023, and 75% by March 31, 2024.

Whirlpool, Care Ratings: Bajaj Consumer Care, IRB Infrastructure Developers, City Union Bank, Suven Pharmaceuticals, Caplin Point Laboratories, CARE Ratings, GSFC, Gujarat Alkalies, MOIL, Thomas Cook (India), VST Tillers Tractors and Whirlpool of India are among 57 companies that are scheduled to announce their corporate earnings today.

Indraprastha Gas: Indraprastha Gas Ltd (IGL) reported a 12% rise in January-March quarter net profit at Rs 252.63 crore on the back of higher gas sales. The company had posted a net profit of Rs 224.72 crore in the same period a year back.

MTNL: The Department of Telecom (DoT) is set to ask state-owned Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam (MTNL) not to use Chinese telecom gear in its 4G upgradation, according to PTI report.

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First published on: 18-06-2020 at 09:07 IST