Stocks in focus: Yes Bank, Tata Motors, Bandhan Bank, DHFL, Bank of India, Tata Consumer Products

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August 4, 2020 8:49 AM

Gujarat Gas, PI Industries: Dixon Technologies, Godrej Consumer Products, Tata Consumer Products, Gujarat Gas, Marksans Pharma, Hikal, Neuland Laboratories, are among that are scheduled to announce their quarterly earnings on Tuesday.

yes bank, bandhan bank, stocks in focusMarkets may remain in a consolidation phase as there is high uncertainty regarding COVID-19 situation to get normalise as well as unsupportive global cues

Nifty futures were seen trading 32.30 points or 0.30 per cent up at 10,948.50 on Singaporean Exchange, suggesting a positive for BSE Sensex and Nifty 50 on Tuesday. Today, the Reserve Bank of India (RBI) will begin its three-day monetary policy meeting. Besides, oil prices movement, rupee trajectory, trends in COVID-19 cases and stock-specific actions will sway the investor sentiment. “Markets may remain in a consolidation phase as there is high uncertainty regarding COVID-19 situation to get normalise as well as unsupportive global cues. Further, along with RBI monetary policy (scheduled on August 6th), market participants would keep a close watch on global cues as well as fluctuation in crude oil prices,” said Ajit Mishra, VP – Research, Religare Broking Ltd.

Stocks in focus today:

Yes Bank: Moody’s Investors Service has upgraded several of Yes Bank’s debt instruments to B3 from Caa1, following the close of the lender’s Rs 15,000-crore equity fund-raise. The rating agency also upgraded the private lender’s baseline credit assessment (BCA) and adjusted BCA to caa2 from ca.

Tata Motors: The automaker informed in an exchange filing that company’s 75th annual general meeting (AGM) will be held on August 25 through video conferencing (VC) or other audio visual means (OAVM). The company said that the members attending through VC/OAVM shall be counted for the purpose of reckoning the quorum under Section 103 of the Companies Act, 2013.

Tata Consumer Products, Dixon Technologies: Gujarat Gas, PI Industries: Dixon Technologies, Godrej Consumer Products, Tata Consumer Products, Gujarat Gas, Marksans Pharma, Hikal, Neuland Laboratories, are among that are scheduled to announce their quarterly earnings on Tuesday.

Bandhan Bank: Bandhan Bank on Monday said Bandhan Financial Holdings (BFHL), its holding company, has diluted 20.95% or 33,73,67,189 equity shares in the bank in order to bring its shareholding to 40% through secondary market sale to comply with licensing conditions of the Reserve Bank of India (RBI).

DHFL: The committee of creditors (CoC) of mortgage financier Dewan Housing Finance Corporation (DHFL) has agreed to extend the deadline for submission of bids till September 16, sources close to the development told FE.

Bank of India: Bank of India reported a net profit of Rs 844 crore in the June quarter of FY21, up 248% on-year. The profit growth was supported by non-interest income, which rose 43% on-year to Rs 1,707 crore.

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