Stocks to Watch: Bharti Airtel, Lupin, Tata Steel, Britannia, Hero MotoCorp2 min read . Updated: 07 Feb 2020, 08:10 AM IST
- Tata Steel, NTPC, CONCOR, Britannia Industries, Voltas Ltd, Oberoi Realty to announce Q3 earnings today
New Delhi: Here is a list of top 10 stocks that may be in focus on Friday:
Bharti Airtel: The Department of Telecommunications has approved the merger of consumer mobile operations of Tata group with Bharti Airtel Ltd. The nod comes more than two years after the companies announced the merger. In October 2017, Tata group had announced the sale of its consumer mobile business to Bharti Airtel on a debt-free, cash-free basis.
Lupin: The pharmaceutical company on Thursday reported a consolidated loss of ₹835 crore for the quarter ended December. Losses were largely due to the second impairment provision of ₹1,580 crore that it made for its subsidiary Gavis Pharmaceuticals in the third quarter. The first impairment provision on assets of Gavis Pharma was made in January-March 2018. Lupin had acquired US-based Gavis in 2016.
Sun Pharma: The pharmaceutical major on Thursday posted a 26.4% year-on-year decline in its consolidated net profit to ₹913.52 crore for the December quarter. Net profit fell on account of higher expenses, which rose ₹6,923.40 crore during the quarter from 6,203.14 crore in the corresponding period last financial year.
Britannia Industries: The biscuit maker will announce its earnings for the three months ended December later today. Separately, white goods manufacturing companies Voltas Ltd and Whirlpool of India Ltd will also report their financial results for the third quarter today.
Tata Steel: The Tata group-owned steel giant will announce its earnings for the December quarter later today. Separately, state-owned companies Container Corporation of India Ltd and NTPC Ltd will also report their numbers for the third quarter.
Oberoi Realty: The real estate firm will announce its earnings for the December quarter today. On Thursday, shares of most realty companies had tumbled after the Reserve Bank of India extended the timeline to commence commercial operations of real estate project loans. However, housing finance companies had gained on the announcement, with Indiabulls Housing Finance Ltd rising as much as 16%.
Hero MotoCorp: The auto company’s net profit rose 14.5% year-on-year to ₹880.4 crore for the December quarter. The profit, which beat the Street’s estimate, was higher due to a sharp fall in tax cost. However, revenue from operations slipped 11% to ₹6,996.7 crore due to lower sales volume but was offset by higher realisation.
Aurobindo Pharma: The pharmaceutical company’s net profit for the third quarter of this fiscal fell a marginal 1% from a year ago to ₹705.3 crore. Managing Director N Govindarajan said the firm will remain focused on strengthening its existing business and develop a specialty product portfolio.
Wipro: The IT company on Thursday said it has bagged a multi-year global strategic deal from Marelli, a leading global tier 1 automotive technology supplier. The deal will help Marelli standardise, simplify and enhance their lT services at a global level and consolidate several current vendors across application management and workplace end-user services.
Bata: The shoe manufacturer reported a 13.6% year-on-year rise in its net profit to ₹117.2 crore despite market headwinds and lower consumer spending across sectors in India. The company’s revenue from operations increased 6.5% to ₹829.6 crore during the December quarter.
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