Stocks in the news: Indiabulls Housing, Reliance Industries, ICICI Securities and Cadila Healthcare
Here's a look at the top stocks that may hog the limelight in today's session.
UltraTech Cement, SBI Life: ICICI Securities, UltraTech Cement, SBI Life, BEPL and Bombay Wire Ropes are among a handful companies, which will announce their quarterly results later in the day.
Reliance Industries: Brokerages have maintained a positive stance on Reliance Industries following its second quarter results. Reliance Industries on Wednesday reported a 17.35 per cent year-on-year rise in net profit for the September quarter at Rs 9,516 crore, below estimate of Rs 9,629 crore projected by analysts in an ET Now poll.
Indiabulls Housing: The company on Friday clarified that not a single developer in its portfolio has had Indiabulls Housing Finance as its sole lender. It said that a majority of the portfolio is backed by lease rental discounting assets. The portfolio comprises of leading developers only in the metro cities of the National Capital Region [NCR], Mumbai Metropolitan Region [MMR], Chennai, Bangalore, Pune and Hyderabad, the company said.
Jet Airways: The Tata Group wants complete control over Jet Airways along with the exit of existing promoters, the Goyal family, and has rejected an initial proposal for part-ownership and joint control of the airline.
IL&FS Transportation Networks: A group company of the troubled IL&FS group clarified to the exchanges that it has not appointed any new board members but has only received nominations for the same.
NTPC: India's largest electricity producer has invited offers for arranging of a term loan in Japanese yen for an aggregate amount of $150 million equivalent with a green shoe option to retain over-subscription up to $250 million equivalent.
Cadila Healthcare: Drug firm Zydus Cadila Thursday said it has received a tentative nod to market generic Colchicine tablets used for prevention and treatment of gout attacks in US market.
ONGC: State-owned Oil and Natural Gas Corp said its finances are as sound as ever and is generating enough revenues to meet all its capital and operating expenditures as well as any additional merit-based requirement.
DCB Bank: DCB Bank reported a net profit of Rs 73 crore for the quarter ended September 2018 up 25 per cent compared to Rs 59 crore reported a year ago. Profit was driven by a 27 per cent growth in net advances due to high demand for mortgages and rural loans.
ACC: Homegrown cementmaker ACC posted an increase in net profit for the third quarter ending September; however it missed street estimates. The company reported a 15 per cent year-on-year increase in consolidated net profit at Rs 209 crore.
Havells India: Consumer electrical goods maker Havells India reported 4.44 per cent rise in standalone net profit to Rs 1.78 billion for the second quarter ended September 30, 2018. The company had posted a net profit of Rs 1.71 billion for the same period a year ago.
Cyient: The company reported a 14 per cent year-on-year growth in net profit to Rs 127.1 crore for the July-September quarter; while its profit jumped 54 per cent sequentially.
NIIT Technologies: The company reported 66.3 per cent jump in net profit to Rs 111.8 crore for the quarter ended September 30, 2018, driven by strong demand across sectors like BFSI and travel and transportation. The company had registered a net profit of Rs 67.2 crore in the year-ago period, it said in a regulatory filing.
Mindtree: Axis Capital has downgraded Mindtree to hold citing possibility of moderation in growth. The brokerage has a target price of Rs 1,070 on stock. Near-term challenges restrict upside with growing concern over lopsided growth from top clients, said Axis Capital. The brokerage said it is convinced about strong digital capability but sees limited room for revenue acceleration in near term. Shares of Mindtree ended down 0.6 per cent at Rs 978.95 on Wednesday.