Top stocks are in focus today - Axis Bank, Idea, ICICI Bank, IDFC Bank, Shree Renuka, NFL
Axis Bank Ltd:
Axis Bank Ltd., India's third largest private lender, will be in focus after it acquired Jasper Infotech owned FreeCharge for Rs 3.85 billion becoming the first Indian lender to take over a digital payments company. The digital payments platform has over 50 million customers and a gross merchandise volume of Rs 72 billion. It also has 50 million registered wallet users and a merchant network of over 200,000.
Claris Life Sciences Ltd:
Claris Life Sciences Ltd., sterile injectables pharmaceutical group, will be in focus after investors in it could receive a windfall after its deal with Baxter was cleared in the US Baxter and Claris have agreed to divest two products to settle Federal Trade Commission charges that the deal is anti-competitive.
ICICI Bank Ltd:
ICICI Bank Ltd., the nation's second-biggest private sector lender, will be in focus after it managed to limit fall in net profit at 8% amid lower slippages during the fiscal first-quarter to Jun 30. However, the lender missed analyst expectation owning to slower momentum in net interest income amid higher credit cost.
IDFC Bank Ltd:
IDFC Bank Ltd., a private lender, will be in focus after it reported a 65%t jump in net profit during the first quarter, driven primarily by a three-fold jump in treasury income and a write-back from provisions it had made last year.
Idea Cellular Ltd:
Idea Cellular Ltd., the third largest listed telecom service provider, will be in focus after it reported a net loss of Rs 8.15 bln in the fiscal first quarter, its third straight quarterly loss, as rival carrier's free services hit sales and eroded margins. The company reported a consolidated loss of Rs 8.15 billion in the three-month period ended Jun 30 compared to Rs 2.20 bln in the same period year ago.
Maruti Suzuki India Ltd:
Maruti Suzuki India Ltd., India's largest car maker, will be in focus as its first-quarter net profit increased 4.4% as dealers' offered one-time compensation ahead of GST roll-out. Net profit jumped to Rs 15.56 billion in the three months ended Jun 30 compared to Rs 14.90 billion in the corresponding period a year ago. However, net profit missed analysts' expectations.
Shree Renuka Sugars Ltd:
Shree Renuka Sugars Ltd., India's largest sugar refiner, will be in focus after a global agriculture commodity trader Wilmar International is likely to increase its stake by over 20% in Shree Renuka Sugars. Renuka Sugars trimmed debt for the past five years, has explored ways to reduce it's consolidate debt of Rs 91.04 billion.
National Fertilizers Ltd:
National Fertilizers Ltd. (NFL) will be in focus after the government raised around Rs 5.35 billion through disinvestment of its stake in it through an offer of sale. Against the 20% portion amounting to Rs 1.07 billion reserved for retail investors, the total bids of Rs 1.78 billion has been received, adding that the non-retail portion was oversubscribed by 1.35 times.
Oil and Natural Gas Corporation Ltd:
Oil and Natural Gas Corporation Ltd., India's biggest oil explorer, will be in focus on reporting 8.21% on year drop in net profit at Rs 38.84 billion for the quarter ended Jun 30, 2017 against Rs 42.32 billion in the corresponding quarter last year.
Vedanta Ltd:
Vedanta Ltd., the Anil Agarwal led group, will be in focus as months after an audacious raid to buy into rival Lon don miner Anglo American, Vedanta Resources, its subsidiary, initiated talks with south India-based Deccan Gold Mines to acquire a controlling stake.
L&T, India Cements Ltd., NBFC Equitas Holdings, NIIT and Zuari Agro Chemicals, among other to announce Apr-Jun quarter earnings release today.
No comments:
Post a Comment