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Home / Markets / Stock Markets /  Stocks to Watch: Cipla, IndusInd Bank, DBC Bank, Eveready Industries, Abbott India

NEW DELHI : Here’s a list of top ten stocks that may be in news on Monday:

Cipla: The pharma company reported a 26.58% rise in its consolidated net profit to 566.04 crore for the quarter ended June on the back of robust sales. Cipla had posted a net profit of 447.15 crore for the corresponding period of the previous fiscal.

Abbott India: The company reported a 54.22% rise in its net profit to 180.35 crore for the quarter to June 2020. Abbott India had posted a net profit of 116.94 crore for the corresponding period of the previous fiscal.

Defence companies: India’s defence ministry has brought out a list of 101 items that will be on an import embargo catalogue in a move seen as a major push to boost the indigenous manufacture of military hardware. With this, the defence ministry estimates that contracts worth almost 4 trillion will be placed with domestic industry in the next five to seven years.

Siemens: The company reported a consolidated net loss of 1.9 crore for June quarter 2020 mainly due to lower revenues in view of the covid-19 pandemic. In the year-ago period, the company logged a profit of 250.1 crore.

IndusInd Bank: Private sector lender IndusInd Bank has acquired 7.82% stake in battery maker Eveready Industries by invoking pledged shares following loan default. The bank invoked pledge on 56,83,320 shares forming 7.82% of paid-up equity share capital of Eveready Industries.

Eveready Industries: Promoter group Khaitan family's stake in Eveready Industries has slipped below 10% after IndusInd Bank acquired nearly 8% stake by invoking pledged shares of the battery maker. Williamson Magor Group, owned by the Khaitan family, is the promoter while the Burman family is the single largest public shareholder in the city-based company with nearly 20% stake.

DCB Bank: The private sector lender posted a marginal decline of 2.5% in net profit at 79 crore for the first quarter of the current financial year. DCB Bank had registered a net profit of 81 crore in April-June, 2019-20.

ONGC: The company has approved the offer and issuance of up to 10,000 unsecured, listed, redeemable, non-cumulative, taxable, non-convertible debentures of face value of 10,00,000 at par aggregating to a total issue size of up to 1,000 crore on a private placement basis to identified investors at the interest rate of 6.40% per annum, it said in a regulatory filing.

Coal India: Mining major Coal India Ltd has revised its production target to 650-660 million tonne for the 2020-21 fiscal in the wake of disruptions caused by the covid-19 pandemic, according to a PTI report. The miner had earlier set a target of 710 million tonne for the fiscal.

Punjab & Sind Bank: Net loss of state-owned Punjab & Sind Bank widened to 116.89 crore in the first quarter ended June 30, mainly due to mounting bad loans. The lender had reported a net loss of 30.28 crore during the same quarter a year ago. Sequentially, the bank registered a net loss of 236.30 crore in the fourth quarter last fiscal.

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