Stocks to Watch: ICICI Bank, Bharti Airtel, Hero MotoCorp, Tata Motors, Vedanta2 min read . Updated: 28 Oct 2020, 07:40 AM IST
- Bharti Airtel reported its highest-ever quarterly consolidated revenue on the back of a rise in data usage and higher realisations, helping it narrow losses in the July-September period
NEW DELHI : Here’s a list of top ten stocks that may be in news on Wednesday:
Bharti Airtel: The country's second largest telecom operator reported its highest-ever quarterly consolidated revenue on the back of a rise in data usage and higher realisations, helping it narrow losses in the July-September period. Consolidated revenue rose 22 % to ₹25,785 crore in the September quarter while net loss narrowed to ₹763 crore. Also, Bharti Airtel will sell 100% shares of its Ghana business for ₹184 crore to the West African country’s government.
ICICI Bank: The country’s third largest private sector lender has said that the US Securities and Exchange Commission (SEC) does not intend to take any enforcement action against the lender related to its investigation into the bank’s loan impairment provisions under US generally accepted accounting principles.
Hero MotoCorp: The country's largest two-wheeler maker Hero MotoCorp and Harley-Davidson has announced a wide-ranging partnership for the Indian market, days after the US cult bike manufacturer announced its exit from the country.
Tata Motors: The company’s consolidated net loss widened to ₹307 crore in the September quarter due to the pandemic, but it expects gradual recovery of demand and supply in the coming months. Tata Motors had reported a net loss of ₹187.7 crore during the July-September period previous fiscal.
ABFRL: Traders' body CAIT has raised objections over Aditya Birla Fashion and Retail's (ABFRL) plans to raise ₹1,500 crore by issuing 7.8% stake to Walmart-owned Flipkart Group, alleging that the proposed deal violates the government's FDI policy.
Lakshmi Vilas Bank: The proposed merger between Clix Capital and Lakshmi Vilas Bank (LVB) has run into delays over the provisioning of the bank’s contingent liability of ₹720 crore related to transactions involving former Religare promoters Malvinder and Shivinder Singh, according to a Mint report.
Vedanta: Anil Agarwal-led Vedanta Resources Ltd's (VRL) failed attempt to take full ownership of its profitable operating subsidiary Vedanta Ltd will weaken liquidity, Moody's Investors Service said, giving reasons for it placing VRL's rating under review for downgrade.
Sanofi India: Drug firm Sanofi India reported a net profit of ₹132.9 crore for the quarter ended September 30, 2020. The company had posted a net profit of ₹126.6 crore in the corresponding period of the previous fiscal.
ICICI Prudential Life Insurance: Leading private sector life insurer ICICI Prudential Life Insurance Co on Tuesday reported a flat net profit of ₹303.22 crore in the September quarter, weighed down by higher tax outgo which offset the high underwriting profit and record margin from new premium income. The company had posted a net profit of ₹301.86 crore in the year-ago quarter, it said in a statement.
JM Financial: The company reported a consolidated net profit of ₹139.06 crore for the September quarter, a growth of 7.31% over the same period last fiscal, despite a 5.6% decline in revenue due to the pandemic.