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Stocks in the news: RIL, Bharti Airtel, HDFC, Avenue Supermarts, ITC and YES Bank

HDFC reported a 21.97 per cent year-on-year (YoY) fall in net profit at Rs 2,233 crore for the March quarter.

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Last Updated: May 26, 2020, 01.30 PM IST
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DCB Bank on Saturday reported a 28 per cent decline in net profit at Rs 69 crore for the March quarter, impacted by the coronavirus crisis.
Nifty futures on the Singapore Exchange traded 93 points, or 1.03 per cent higher at 9,134 in signs that Dalal Street was headed for a positive start on Tuesday. Here are a few stocks which may create some buzz during the day:

Bharti Airtel: Bharti Telecom, parent company of Bharti Airtel, is planning to raise $1 billion by selling shares in the mobile phone operator through a block deal on Tuesday at Rs 558 a unit, according to a term sheet of the planned sale seen by ET.

HDFC: Mortgage lender HDFC reported a 21.97 per cent year-on-year (YoY) fall in net profit at Rs 2,233 crore for the March quarter. It had reported a profit of Rs 2,862 crore in the corresponding quarter of last year.

YES Bank: The private sector lender will have to grapple with fresh allegation and evidence that indicates how its officials had misled retail investors to peddle perpetual bonds. Axis Trustee, which represents the bondholders, is understood to have signed a new affidavit to state that the securities-commonly known as additional tier-1 or AT1 bonds-were marketed as ‘Super Fixed Deposits’ by relationship managers (RMs) of YES Bank.

Avenue Supermarts: The company, which owns and operates supermarket chain D-Mart, said its consolidated net profit for the March quarter rose 41.6 per cent to Rs 271.28 crore. It had reported a net profit of Rs 191.57 in the same quarter a year ago.

OnMobile Global: The company has acquired 25 per cent equity stake in Technologies rob0 Inc (rob0) through its Canadian subsidiary for 1 million Canadian dollar (about Rs 5.4 crore), a move aimed at adding new technologies for growing mobile games subscription business of the group.

Reliance Industries: RIL has estimated a maximum liability of $400 million (Rs 3,000 crore) in its nine-year old dispute with the government over alleged under-utilisation of capacity at the KG-D6 field due to failure to comply with an approved investment plan.

Shalimar Paints: The company on Saturday said it will foray into the “hygiene segment” by introducing sanitisers and disinfectants under the brand name of ‘CLEAN’. The board of Shalimar Paints also approved the diversification of the company into the hygiene segment, the company said in a regulatory filing.

JSW Steel: The company has ramped up capacity utilisation to 85% in May after restarting operations about a month ago, underscoring the importance of government orders in helping India Inc get back to business.

Bank of Baroda: State-run Bank of Baroda on Saturday said it can offer up to Rs 12,000 crore in loans to MSMEs under the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) announced by the government.

ITC: Diversified business entity ITC said it will fully acquire spices manufacturer Sunrise Foods Private Ltd (SFPL).

Bank of Maharashtra: State-owned Bank of Maharashtra on Sunday said it has sanctioned loans worth Rs 2,789 crore to MSME, self-help group, agricultural and retail borrowers to help them meet their liquidity mismatches caused due to coronavirus crisis over the last three months.

8K Miles, Blue Dart, Coromandel International, Deepak Nitrite, Jaiprakash Power, Wonderla Holidays, VIP Industries, Torrent Pharmaceuticals, SH Kelkar, Max Financial: These companies are slated to announce their March quarter earnings on Tuesday.

HIL: State-owned HIL Ltd will supply 25 tonnes of pesticides to Iran to control locust, the government said on Sunday.

DCB Bank: The bank reported a 28 per cent decline in net profit at Rs 69 crore for the March quarter, impacted by the Covid-19 crisis.

Bayer CropScience: The company has reported a net profit of Rs 31.5 crore in the fourth quarter of 2019-20 fiscal on strong revenue. It had posted a net loss of Rs 57.1 crore in January-March quarter of the last fiscal.

Trent: Tata group-owned retail firm Trent on Friday reported a consolidated net profit of Rs 321.64 crore for the fourth quarter ended March 2020. It had posted a net loss of Rs 418.99 crore in the January-March period a year ago.

JSW Steel: Sajjan Jindal-led JSW Steel has slashed its capex plans for 2020-21 by almost 45 per cent to Rs 9,000 crore. The company had initially earmarked Rs 16,340 crore as capex for FY21.

UPL: Agro chemical firm UPL on Friday reported more than two-fold jump in its consolidated net profit at Rs 617 crore for the quarter ended March. The company's net profit stood at Rs 250 crore in the year-ago period.

Deepak Fertilisers: The company on Monday announced its foray into hand sanitiser segment under the brand name ‘Cororid’.
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