Stocks in focus: Vodafone Idea, Mindspace REIT, Yes Bank, HPCL, PNB Housing Finance, Cipla

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August 7, 2020 9:08 AM

Mahindra & Mahindra, Cipla, Siemens, Abbott India, Balrampur Chini Mills, BEML, Birla Corporation, Container Corporation of India, Mahanagar Gas, REC and Sobha, etc., are among companies scheduled to announce their quarterly earnings

vodafone idea, yes bank, stocks in focusThe buoyancy in the global markets is helping the index on every dip and this scenario may continue

Nifty futures were trading 25.25 points or 0.23 per cent down at 11,186.80 on Singaporean Exchange, signalling a negative opening for BSE Sensex and Nifty 50 on Friday. A host of factors including global cue, corporate earnings, corporate earnings, oil prices movement and rupee trajectory will set the market tone for today. Banking stocks reacted positively to the RBI MPC announcements. Analysts believe that the overall market got excited by the prudent measures implemented. “The buoyancy in the global markets is helping the index on every dip and this scenario may continue. However, we still feel that it would be difficult for the index to sustain at the higher levels, without the participation from the banking pack thus traders should keep a close eye on the banking index for a cue,” said Ajit Mishra, VP – Research, Religare Broking Ltd.

Stocks in focus today:

Vodafone Idea: Vodafone Idea posted losses of Rs 25,467 crore in the April-June quarter, which were more than double of what the telecom company had incurred in the preceding quarter. During the quarter the company provisioned Rs 19,440 crore towards its AGR dues.

Mindspace REIT: Mindspace Business Parks REIT is will make a debut on the bourses today. The 45,000 crore real estate investment trusts issue was subscribed 13 times. The issue price has been set at Rs 275 per equity share.

HPCL: Hindustan Petroleum Corporation reported a standalone net profit of Rs 2,813.8 crore during the April-June quarter, recording a 247 per cent on-year rise. The company had posted a net profit of Rs 811 crore in the corresponding quarter of the previous year.

Yes Bank: The cash-strapped private lender Yes Bank on Thursday said LIC has acquired close to 5 per cent shareholding in the bank by purchasing shares from the open market. With the fresh acquisition, the hold of LIC has increased from 0.75 per cent to 4.98 per cent, Yes Bank said in a regulatory filing.

PNB Housing Finance: PNB Housing Finance on Thursday announced that Hardayal Prasad, the former SBI Card head, has been appointed as its new MD and CEO. “Following an extensive executive search that considered internal and external candidates, its board of directors has appointed Hardayal Prasad as Managing Director and Chief Executive Officer of PNB Housing Finance Ltd,” it said in a release.

Jubilant FoodWorks: Jubilant FoodWorks informed that it is entering into the Rs 500 crore ready-to-cook segment with the launch of a new brand, ‘ChefBoss’. The ‘ChefBoss’ range of sauces and pastes includes eight different products across two types of cuisines (Indian and Chinese).

Cipla, Abbott India: Mahindra & Mahindra (M&M), Cipla, Siemens, Abbott India, Alkem Laboratories, Bata India, Balrampur Chini Mills, BEML, Birla Corporation, Container Corporation of India, Mahanagar Gas, REC and Sobha, etc., are among companies scheduled to announce their quarterly earnings later in the day today.

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