Stocks in the news today: Here is a list of top stocks that are likely to be in focus in Thursday's trading session based on latest developments. Companies set to announce their earnings are Biocon, Tata Consumer Products, Indian Energy Exchange, Escorts, Indiabulls Real Estate, Oracle Financial Services, Mahindra Lifespace Developers, Manappuram Finance. Investors will also be taking cues from the latest released March quarter earnings
Share Market LIVE: Sensex fall 435 points, Nifty at 9,260; Infosys, Tech Mahindra, Wipro top losers
Key highlights on share market; check the latest stock market news
- PM CARES Fund has allocated Rs 3,100 crore in fight against COVID-19, of which Rs 1,000 crore will be used for the care of migrant labourers.
-Yesterday, Sensex closed 637 points higher at 32,008 and Nifty ended the session at 9383, rising 187 points.
-Rupee, the local unit, closed stronger at 75.47 per dollar on Wednesday compared to its previous close of 75.50 per US dollar.
-On a net basis, FIIs sold Rs 283.43 crore while DIIs bought Rs 232.65 crore in equities on Wednesday
- The Finance Minister yesterday announced additional stimulus measures of Rs 6 lakh crore today on top of Rs 10 lakh crore announced so far.
- FM also announced infusing liquidity worth Rs 45,000 crore through a Partial Credit Guarantee Scheme for NBFCs.
-In a move to address the liquidity issues for the micro, small and medium enterprises (MSMEs), FM announced collateral-free MSME loans worth Rs 3 lakh crores, 100% guaranteed by the government
- FM also announced other measures like reduction of TDS and TCS rates by 25% and extension of due dates of tax returns and tax assessments
- FM also announced fresh injection of Rs 90,000 crs into DISCOMs, in a move to de-stress them and improve the liquidity for power generation companies
Maruti Suzuki: Company plans to acquire Sumitomo's stake in JJ Impex Delhi Pvt. As per the filing, company board has approved acquisition of 39.13% equity stake from Sumitomo Corporation, Japan and 10% equity stake from Sumitomo Corporation India held in J.J. Impex (Delhi).
NMDC: The company has considered the current market scenario of steel and iron ore and taken informed decisions to rationalize the prices. Company has reduced the prices of iron ore by Rs 400 on 9 May 2020 and also reduced the price of DRCLO by Rs 470 per tonne.
PNC Infratech: Company has been declared as the L1 (lowest) bidder for a NHAI Project of 53.95 km long Four-laning for Uttar Pradesh state under Bharatmala Pariyojana on Hybrid Annuity Mode (HAM) for Rs 1412.0 crore.
REC: The company has issued US$ 500,000,000, 4.75% notes due 2023, on May 12, 2020. The notes will mature on May 19, 2023 and all principal and interest payments will be made in US dollars.
Godrej Consumer Products: The company reported 75% fall (YoY) in consolidated net profit to Rs 229 crore during the quarter ended March 31, 2020, as against Rs 935 crore, recorded in a year-ago period. Total income fell 11% (YoY) to Rs 2202 crore in the January-March quarter of the current fiscal as compared to Rs 2481 crore in the same period last financial year.
Maruti: The auto maker reported 28% fall (YoY) in consolidated net profit to Rs 1291 crore during the quarter ended March 31, 2020, as against Rs 1795 crore, recorded in a year-ago period. Total income fell 15.2% (YoY) to Rs 18,198 crore in the January-March quarter of the current fiscal as compared to Rs 21,459 crore in the same period last financial year.
Kotak Mahindra Bank: The company reported 19.28% rise (YoY) in consolidated net profit to Rs 8593.36 crore during the quarter ended March 31, 2020, as against Rs 7204.13 crore, recorded in a year-ago period. Total income rose 9.58% (YoY) to Rs 50299.6 crore in the January-March quarter of the current fiscal as compared to Rs 45903.36 crore in the same period last financial year.
ABB: The company reported 44% fall (YoY) in consolidated net profit to Rs 64 crore during the quarter ended March 31, 2020, as against Rs 116 crore, recorded in a year-ago period. Total income fell 17.7% (YoY) to Rs 1522 crore in the January-March quarter of the current fiscal as compared to Rs 1850 crore in the same period last financial year.
Siemens: The company reported 38% fall (YoY) in consolidated net profit to Rs 175 crore during the quarter ended March 31, 2020, as against Rs 284 crore, recorded in a year-ago period. Total income fell 20% (YoY) to Rs 2837 crore in the January-March quarter of the current fiscal as compared to Rs 3577 crore in the same period last financial year.
Umang Dairies: The company reported 28% fall (YoY) in consolidated net profit to Rs 1.57 crore during the quarter ended March 31, 2020, as against Rs 2.21 crore, recorded in a year-ago period. Total income rose 5.14% (YoY) to Rs 75 crore in the January-March quarter of the current fiscal as compared to Rs 71 crore in the same period last financial year.
Q4 Earnings:
-Biocon, Tata Consumer Products, Indian Energy Exchange, Escorts, Indiabulls Real Estate, Oracle Financial Services, Mahindra Lifespace Developers, Manappuram Finance, T.V. Today Network, Zensar Technologies, Accelya Solutions and AAVAS Financiers will be reporting Q4 results today.
-Godrej Consumer Products, Kotak Mahindra Bank, Maruti Suzuki India, Mphasis, Schaeffler India, Siemens reported their quarterly earnings yesterday.
-Cipla, Crompton Greaves Consumer Electrical, L&T Technology Services, Mahindra & Mahindra Financial Services and Nippon Life India Asset Management will be reporting their results tomorrow.
Result date announcements:
Future Consumer: May 16, 2020
Monnet Ispat & Energy: May 18, 2020
Matrimony.com: May 20, 2020
Dabur India: May 27, 2020
Everest Industries: May 29, 2020