Stocks that are in focus today: Federal Bank, RIL, ACC and more

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Published: July 20, 2015 9:57:49 AM

The benchmark BSE Sensex fell by 56.51 points or 0.19 per cent to 28,406.80 in early trade.

bse sensexThe benchmark BSE Sensex fell by 56.51 points or 0.19 per cent to 28,406.80 in early trade. (Reuters)

The BSE Sensex was volatile in morning trade on Monday ahead of corporate earnings from blue-chip firms such as Infosys, RIL and HDFC Bank. Progress of monsoon and proceedings in Parliament over key reform bills were also affecting the stock markets trading. At 9.46 am, Sensex was down 46.93 points at 28,416.38. Similarly, Nifty was down 23.75 points at 8,586.10 during the same time.

The benchmark BSE Sensex fell by 56.51 points or 0.19 per cent to 28,406.80 in early trade.

Here are five stocks that are likely to be in focus today:

Federal Bank: The bank on Saturday reported a 35.8 per cent decline in its net profit at Rs 141.39 crore for the first quarter of 2015-16. The bank’s net profit stood at Rs 220.23 crore in the same quarter of the previous fiscal. The bank said another Rs 100-crore account is facing stress, which will be dealt with during the September quarter.

RIL: Reliance Industries (RIL) has decided to relinquish two gas discoveries off the east coast and opted to carry out government prescribed confirmation tests to retain three other finds. Accepting a government offer to conduct Drill Stem Test (DST) under limited cost to retain gas discoveries that otherwise would have been taken away for not meeting timelines, RIL has opted to do confirmatory test on two of the three contentious gas finds in the KG-D6 block and one of the two discoveries in question in NEC-25 block.

ACC: The cement major shares were seen falling after company’s June-quarter consolidated profit was down about 45 per cent.

Torrent Pharma: Drug firm Torrent Pharmaceuticals said that it has completed acquisition of Encore Group firm Zyg Pharma Pvt Ltd.

HDFC: Mortgage lender Housing Development Finance Corporation (HDFC) on July 17 sought shareholders’ nod to raise up to Rs 85,000 crore through private placements within a year of its annual general meeting on July 28.

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