Stocks in focus: Vodafone Idea, Maruti Suzuki, ITC, Motherson Sumi, Indiabulls Housing Finance

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Updated: Sep 08, 2020 9:02 AM

A total of 38 companies including SML Isuzu, Future Consumer, Jindal Stainless, Spencers Retail and Texmaco Rail & Engineering are scheduled to announce their June quarter earnings today.

stocks in focus, maruti suzuki, vodafone ideaAccording to reports, fresh tension across the India-China Line of Actual Control in Eastern Ladakh have taken place, which will dent the investors’ sentiment.

Nifty futures were trading 20.20 points or 0.18 per cent lower at 11,369.80 on Singaporean Exchange, suggesting a muted opening for BSE Sensex and Nifty 50 on Tuesday. According to reports, fresh tension across the India-China Line of Actual Control in Eastern Ladakh have taken place, which will dent the investors’ sentiment. Apart from these, rising coronavirus cases and other global cues will continue to dictate market trend. “We feel the performance of global markets combined with development on India-China LAC issue will continue to dictate the market trend. Considering the market scenario, traders should maintain positions on both sides and prefer hedged bets,” said Ajit Mishra, VP – Research, Religare Broking Ltd.

Stocks in focus today:

Vodafone Idea: The company said it will seek shareholders’ approval to raise borrowing limit to Rs 1 lakh crore, at the annual general meeting (AGM) scheduled to be held on September 30. Shareholders of the company, which was earlier listed as Idea Cellular, had approved a borrowing limit of Rs 25,000 crore at AGM in September 2014.

Maruti Suzuki: Maruti Suzuki in an exchange filing on Monday informed that it has sold 1.23 lakh units in August 2020, as compared to 1.11 lakh units in the corresponding period of the previous year.

ITC: ITC has started mulling some alternate structuring to enhance value creation for its hotels business, chairman Sanjiv Puri on Monday said. “The hotels (business) have come to a stage where now our strategic focus is in a fashion, where it makes it possible for us to examine alternate structuring,” Puri said during an interaction with media persons.

Motherson Sumi Systems: The company informed stock exchanges that India Ratings and Research has rated Motherson Sumi Systems’ proposed non-convertible debentures (NCDs) worth Rs 3,000 crore as “IND AAA” rating with a negative outlook.

Indiabulls Housing Finance: Franklin Mutual Series Funds-Franklin Mutual Beacon Fund sold 31 lakh shares of Indiabulls Housing Finance at Rs 194.04 per share on Monday, according to bulk deal data.

Future Consumer, Jindal Stainless: A total of 38 companies including SML Isuzu, Future Consumer, Jindal Stainless, Spencers Retail and Texmaco Rail & Engineering are scheduled to announce their June quarter earnings today.

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