Stocks in focus: Vodafone Idea, Axis Bank, HDFC Bank, IRCTC, Tata Steel, ONGC, Midhani, aviation stocks

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Published: June 30, 2020 9:05 AM

NBCC, RITES, Shalimar Paints, ONGC, Vodafone Idea, SAIL, Deepak Fertilisers, Godfrey Phillips, ICRA, Mishra Dhatu Nigam, The New India Assurance Company, Bajaj Healthcare, Hindustan Motors, Ircon International and Rajesh Exports are among 596 companies scheduled to announce their March quarter earnings.

Vodafone idea, IRCTC, HDFC Bank, Axis Bank, stocks in focusInvestors should remain cautious and look for buying opportunities on declines in the market

The Nifty futures were trading 52 points or 0.51 per cent higher at 10,313 on Singaporean Exchange, suggesting a higher opening for BSE Sensex and Nifty 50 on Tuesday. Market participants will await PM Modi’s address to the nation scheduled at 4 PM today where he is expected to speak on unlock phase 2. Meanwhile, the total coronavirus cases in India has surpassed 5.67 lakh-mark. Centre has issued a fresh set of guideline for the Unlock 2.0, which will come into force on Wednesday, July 1. However, in the view of increasing COVID-19 cases, the Maharashtra government has extended the ongoing lockdown in the state till July 31. “Maharashtra has already announced the extension of lockdown which could be followed by other states too. Thus, going ahead, we expect the market to consolidate at the current levels, on the back of resurging concerns over economic de-growth. Investors should remain cautious and look for buying opportunities on declines in the market,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Stocks in focus today:

Vodafone Idea, ONGC: NBCC, RITES, Shalimar Paints, ONGC, Vodafone Idea, SAIL, Deepak Fertilisers, Godfrey Phillips, ICRA, Mishra Dhatu Nigam, The New India Assurance Company, Bajaj Healthcare, Hindustan Motors, Ircon International and Rajesh Exports are among 596 companies scheduled to announce their March quarter earnings.

Axis Bank: Axis Bank informed the bourses that its board will meet on Thursday, June 2, to explore raising funds through shares or depository receipts. Last week on Friday, rating agency S&P Global downgraded ratings on Axis Bank to junk.

HDFC Bank: HDFC Bank is proposing to raise capital via unsecured perpetual debt instruments, part of additional Tier I capital, Tier II capital bonds and long term bonds, from the domestic market through the private placement route. While not specifying the amount, the bank has stated that the amount would be within the limits permitted by the Reserve Bank of India (RBI) that would not exceed Rs 50,000 crore.

Aviation stocks, IRCTC: The fresh guidelines, issued by Union Home Secretary Ajay Bhalla, stated domestic flights and train services would be further expanded in a calibrated manner.

Tata Steel: Tata Steel on Monday reported Rs 1,615.35 crore consolidated net loss for the fourth quarter ended March 31. The company had posted a net profit of Rs 2,295.25 crore during the same quarter a year ago.

Aditya Birla Fashion and Retail: The board of Aditya Birla Fashion and Retail approved Rs 995-crore rights issue that will open on July 8. In an exchange filing, the company said it will issue 9.05 crore partly-paid up equity shares, having face value of Rs 10 each, aggregating to Rs 995 crore.

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