BackStocks to Watch: Auto stocks, Nestlé, ITC, DHFL, Infosys
FMCG-cigarette-to-hotel major ITC reported a year-on-year net profit of ₹3,748.41, down 1.29%, in the quarter ended 31 March, 2021Major companies that will release March quarter earnings today are Motherson Sumi Systems, Muthoot Finance and PVR
PremiumNEW DELHI: Here are top 10 stocks that could be in the news today.
ITC Ltd: The FMCG-cigarette-to-hotel major reported a year-on-year net profit of ₹3,748.41, down 1.29%, in the quarter ended 31 March, 2021. The company had posted a net profit of ₹3,797.08 crore in the year-ago period. The FMCG major posted a consolidated net profit of ₹3,755 crore in the said quarter.
TTK Prestige: Kitchen appliances maker TTK Prestige said it has concluded a long-term settlement covering all its workmen at the manufacturing unit in Gujarat. The company, however, did not share the details of the settlement.
Glenmark Pharma: The drugmaker announced the launch of anti-epileptic drug Rufinamide tablets in the US market. Glenmark Pharmaceuticals Ltd has launched Rufinamide tablets USP in the strengths of 200 mg and 400 mg, the company said in a regulatory filing.
Nestlé India: The packaged food and beverages company's Swiss parent said it is working on a company-wide project to update its nutrition and health strategy after a news report in the Financial Times revealed that more than 60% of the company’s mainstream food and drinks portfolio failed to meet recognized standards of health and nutrition, putting the world’s largest packaged foods company under fire.
Dewan Housing Finance Corp. Ltd: The company's erstwhile promoter, Kapil Wadhavan has appealed in the Supreme Court against the stay order passed by the National Company Law Appellate Tribunal (NCLAT), according to two bankers aware of the matter.
Oil companies' stocks: Transportation fuel prices in India continued with their upward streak, with state run oil marketing companies (OMCs) raising petrol and diesel prices in the backdrop of a rally in global crude oil prices.
Suzlon Energy Ltd: The company said it has received an order for developing a 252 MW wind power project from CLP India. The company will install 120 units of S120-140 million wind turbine generators with a Hybrid Lattice Tubular (HLT) tower, with rated capacity of 2.1 MW each, Suzlon said in a notice to the exchanges.
Punjab National Bank: The lender has cut its benchmark one-year marginal cost of funds-based lending rate (MCLR) by 0.05 per cent to 7.30 per cent, the bank said in a regulatory filing. The new MCLR rates will come into effect from today, 1 June 2021.
Auto stocks: Major automobile manufacturers like Maruti Suzuki, Hyundai, Mahindra & Mahindra, Tata Motors and Toyota Kirloskar on Tuesday reported decline in domestic passenger vehicle sales in May compared to the previous month as a spike in COVID-19 cases and lockdowns across various states hit production and dispatches.
Infosys: The Securities and Exchanges Board of India (Sebi) has banned Infosys's senior corporate counsel Pranshu Bhutra and Venkata Subramaniam V. V Senior Principal, Corporate Accounting Group along with six other related entities from accessing capital markets until further orders for insider trading. Infosys said it will initiate an internal investigation into the insider trading matter.
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