Stocks to Watch: Bajaj Finance, Bandhan Bank, HUL, Godrej Consumer, PVR2 min read . Updated: 07 Jul 2020, 08:08 AM IST
- Bajaj Finance Ltd may consider additional accelerated provisioning for covid-19 in the first quarter of FY21 to further strengthen its balance sheet
- Godrej Consumer Product expects a mid-single-digit, volume-driven sales growth in the April-June quarter of FY21, when the lockdown was enforced
Here’s a list of stocks that may be in news on Tuesday:
Bajaj Finance: Consumer durables financier Bajaj Finance Ltd may consider additional accelerated provisioning for covid-19 in the first quarter of FY21 to further strengthen its balance sheet. In the March quarter of FY20, Bajaj Finance had set aside ₹900 crore as provisions for covid-19, leading to a 19.4%% year-on-year (y-o-y) decline in consolidated net profit at ₹948.1 crore.
Bandhan Bank: The lender's loans and advanced for the June quarter stood at ₹74,325 crore, up 18% year-on-year, while total deposits increased 35% to ₹60,602 crore.
Shriram Transport: Commercial vehicles financier Shriram Transport Finance Co Ltd (STFC) on Monday said that it has fixed a price of ₹570 per share for its proposed rights issue, through which the lender plans to raise up to ₹1,500 crore. The rights issue share price is a 18% discount to STFC’s closing price of ₹697.5 apiece on Monday, on the BSE.
HUL: In an interim relief to Hindustan Unilever (HUL), which recently dropped the word 'Fair' from its skin cream for men and renamed it 'Glow & Handsome', the Bombay High Court on Monday said FMCG firm Emami, that has its own 'Glow and Handsome' cream, shall give HUL seven days prior notice before initiating legal proceedings on trademarks.
Godrej Consumer: FMCG firm Godrej Consumer Product Ltd (GCPL) expects a "mid-single-digit, volume-driven sales growth" in the April-June quarter of FY21, when the lockdown was enforced to tackle the spread of the coronavirus pandemic. The Godrej group firm has witnessed a "strong recovery" from mid-May and June across most of the markets, where it operates.
PVR: The company’s ₹300 crore rights issue will open from 17 July to 31 July. The rights issue price has been fixed at ₹ 784 per equity share while the entitlement ratio is 7 fully paid-up equity shares for every 94 equity share held by eligible shareholders as on the record date i.e. 10 July.
Punjab National Bank: State-owned Punjab National Bank (PNB) said its board will consider a proposal to raise capital through a mix of both equity and debt on July 9. Besides, the board will clear opening balance sheet of the amalgamated bank as on April 1, which is post amalgamation of Oriental Bank of Commerce and United Bank of India into PNB, the bank said in a regulatory filing.
Max Financial Services: IDBI Trusteeship Services Limited has released 12.5 lakh pledged shares of Max Financial Services (MFSL). "12,50,000 shares of MFSL were released by the Trustee to the promoter group on the instructions of the lender on account of release event in terms of the loan agreement, resulting in reduction in the number of pledged shares," MFSL said in the regulatory filing.
Petronet LNG: The country's biggest liquefied natural gas infrastructure company will set up 1,350 LNG dispensing stations across major national highways to expand its business, after the government last month allowed marketing and distribution of LNG by any entity.
Greaves Cotton: Ampere Vehicles, the electric vehicle arm of Greaves Cotton, has acquired 74% stake in Noida-based electric three-wheeler manufacturer Bestway Agencies Pvt. Ltd. (BAPL) for an upfront cash consideration of ₹7 crore.