BackStocks to Watch: HDFC, auto companies, banks, PNB Housing Finance
HDFC, Ajanta Pharma, Balrampur Chini Mills, Escorts, IIFL Wealth Management, PI Industries, Tata Consumer Products, are among the 69 companies scheduled to announce their quarterly earnings on Tuesday
PremiumNEW DELHI: Here is the list of top 10 stocks that could be in news on Tuesday.
Auto stocks: Reflecting a seemingly sustainable market recovery amid concerns oversupply of certain parts, auto majors Maruti Suzuki, Hyundai Motor, M&M, Tata Motors, Honda and MG Motor on Monday reported growth in their domestic passenger vehicle (PV) sales in January.
Bank stocks: The government will set up an asset management company to take over the stressed loans in the banking sector, which will help boost the health of the balance sheets of the country’s state-owned banks. It will also infuse Rs20,000 crore in PSU banks.
PNB Housing Finance: Is looking at forging tie-ups with some banks for co-lending in the housing loan sector and is hopeful that these partnerships will be win-win for consumers, banks and NBFCs.
Insurers: The Union Budget for 2021-22 has proposed raising foreign direct investment limit in insurance to 74% from 49%, which will likely accelerate growth and spur competition in the sector and lead to an inflow of foreign capital into private Indian insurers.
Pharma stocks: The government will spend ₹64,180 crore over the next six years to improve healthcare services available across primary to tertiary care facilities, finance minister Nirmala Sitharaman announced in her budget speech on Monday.
Steel stocks: The Union Budget for 2021-22, released on Monday, has proposed a reduction in custom duty on steel products of up to 5% to 7.5%.
Infra stocks: Finance Minister Nirmala Sitharaman on Monday said the government will set up a ₹20,000 crore Development Finance Institution (DFI) with a view to mobilise ₹111 lakh crore required for funding of the ambitious national infrastructure pipeline.
Coal India: Production in January was at 60.5 million tonnes, lower from 63.1 million tonnes a year ago while offtake fell to 53.3 million tonnes from 55.9 million tonnes in the same period.
NMDC: The company reported production of 3.86 million tonnes iron ore in January, up from 3.31 million tonnes a year ago, while sales stood at 3.74 million tonnes against 2.96 million tonnes in the same period.
PVR: The company set the issue price for QIP at ₹1,440 per share and raised ₹800 crore. Also, the Centre has allowed cinema halls to operate at 100% capacity from February 1, except in containment zones, while adhering to health safety protocols.
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