Stocks in focus: RIL, Aurobindo Pharma, Syngene International, Britannia, IndiGo, Lupin

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Published: June 3, 2020 9:07 AM

Orient Hotels, DCM Shriram, BPCL, Aurobindo Pharma, MAS Financial Services, Cholamandalam Investment and Dishman Carbogen are among 15 companies which are scheduled to announce their March quarter earnings today

Stocks in focus, RIL, Aurobindo PharmaMarket participants looked past the social unrest in the US and continued to focus on easing lockdown restrictions and prospects of economic recovery

Nifty futures were trading with a gain of 79 points or 0.79 per cent at 10,067, on the Singaporean Exchange signalling that BSE Sensex and Nifty 50 were headed for a strong start on Wednesday. Market participants looked past the social unrest in the US and continued to focus on easing lockdown restrictions and prospects of economic recovery. Foreign institutional investors (FIIs) bought shares worth Rs 7,498.29 crore and domestic institutional investors (DIIs) also bought shares worth Rs 441.05 crore on net basis on Tuesday, according to the provisional data available on the NSE. “The recent rally is clearly propelled by the banking space, which is a sign of strength and genuineness. Apart from this, other pockets too have contributed on this occasion along with the broader market. Hence, one should concentrate more on individual stocks; because we might see some slowness or consolidation in indices going ahead,” said Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking).

Stocks in focus today

Reliance Industries: RIL’s Rs 53,124 crore rights issue, which opened for the subscription for eligible shareholders on May 20, will close today. According to issue subscription data on stock exchanges, total bids received for RIL’s rights shares stood at 54.9 crore, overshooting the 42.26 crore shares on offer by 29.8 per cent, PTI report said.

BPCL, Aurobindo Pharma: Orient Hotels, DCM Shriram, BPCL, Aurobindo Pharma, MAS Financial Services, Cholamandalam Investment and Dishman Carbogen are among 15 companies which are scheduled to announce their March quarter earnings today.

Britannia Industries: FMCG major Britannia reported consolidated net profit increase by 26 per cent for the March quarter at Rs 375 crores. The total tax expense has fallen to nearly half to Rs 85 crore from Rs 155.65 crore. The company said that the lockdown has hampered its growth revival.

InterGlobe Aviation: Indigo reported a net loss of Rs 870 crore in the March quarter, as coronavirus induced lockdown forced closure of flight operations which impacted its financials. For the full fiscal year, the company has reported a net loss of Rs 233 crore compared to a net profit of Rs157 crore in the preceding fiscal.

Syngene International: Syngene International said that it has entered into a collaboration with HiMedia Laboratories to manufacture and distribute its ELISA kits for coronavirus.

Lupin: Lupin informed that it has received approval from the United States Food and Drug Administration (U.S. FDA) for its Meloxicam Capsules, which is used to treat osteoarthritis pain, in the American market.

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