Stocks in focus: RIL, JB Chemicals, Vedanta, HUL, SBI Card, HDFC Life, Indiabulls Housing Finance

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Published: July 3, 2020 8:56 AM

DCM Financial Services, Duroply Industries, Dhunseri Ventures, Indiabulls Housing Finance, Dynamatic Technologies, Shiva Global Agro Industries and Shiva Granito Export are among 18 companies that are scheduled to announce their March quarter earnings today.

RIL, HUL, stocks inf focusThe near term momentum may continue, traders should look at booking profits at regular intervals

The Nifty futures were trading 42.10 points or 0.40 per cent higher at 10,594 on Singaporean Exchange, indicating a positive opening for BSE Sensex and Nifty 50 on Friday. A host of factors such as positive US jobs data, rise in coronavirus, developments around COVID-19 vaccine, June auto sales numbers, crude oil prices, India-China relation, and movement of rupee against US dollar, will set the tone for markets today. “While there are concerns over rising coronavirus cases and chances of the second round of lockdown, the market seems to be factoring in positive macro-economic data, the onset of timely monsoon and initial success in vaccine development. Though the near term momentum may continue, traders should look at booking profits at regular intervals,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Stocks in focus today:

Reliance Industries: RIL and Jio Platforms announced today that Intel Capital will invest Rs 1,894.50 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Intel Capital’s investment will translate into a 0.39% equity stake in Jio Platforms on a fully diluted basis. Intel Capital joins the list of marquee firms who have recently invested in Jio Platforms, taking the total investment amount to Rs 117,588.45 crore, company informed in an exchange filing.

JB Chemicals & Pharmaceuticals: According to a BSE notification, Global investment firm KKR & Co. Inc has entered into an agreement to acquire 41.7 million equity shares of JB Chemicals, representing 54 per cent, from the promoters of the company, said a company statement on Thursday. KKR will acquire its stake from founding Mody family at a purchase price of Rs 745 per share.

Indiabulls Housing Finance: DCM Financial Services, Duroply Industries, Dhunseri Ventures, Indiabulls Housing Finance, Dynamatic Technologies, Gati, India Gelatine & Chemicals, Indo-Global Enterprises, Indian Wood Products Company, Kama Holdings, Shiva Global Agro Industries and Shiva Granito Export are among 18 companies that are scheduled to announce their March quarter earnings today.

Vedanta, HDFC Life, SBI Card: Vedanta will be removed from Nifty 50 and other indices from July 31 on account of the company’s proposed voluntary delisting. In its place, HDFC Life Insurance Company will be included in the Nifty 50 index, NSE Indices, a subsidiary of the National Stock Exchange (NSE) said in a statement. Further, SBI Cards and Payment Services would replace HDFC Life from Nifty Next 50 index, according to a PTI report.

Hindustan Unilever: HUL confirmed the company is renaming its popular skincare cream Fair & Lovely as Glow & Lovely. The move comes after the company decided to drop the word ‘fair’ from ‘Fair and Lovely’ brand following social media criticism after the #blacklivesmatter protests in the US.

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