New Delhi: Here is a list of top 10 stocks that may be in focus on Wednesday:
IndusInd Bank: Ratings agency Moody’s Investors Service on Tuesday revised its outlook for the private lender to negative from stable due to concerns over decline in asset quality. Moody’s retained the bank's rating at 'Baa-3/P-3', the agency said. Baa3 denotes the lowest rating in investment grade on long-term corporate obligation, which carries moderate risks.
Cadila Healthcare: The pharmaceutical company on Tuesday said Zydua Cadila has received approval from the US Food and Drug Administration to market fluoncinodine cream 0.1%, used to treat a variety of skin ailments such as psoriasis, eczema, dermatitis, allergies and rash. The drug will be manufactured at the company’s topical facility in Ahmedabad, Gujarat.
Godrej Properties: The real estate company on Tuesday said it has acquired 20% issued and paid-up share capital of Vivrut Developers Pvt Ltd. The Godrej group-led company said Vivrut has become its associate following the acquisition.
Hindalco: The aluminium and copper maker, which is also an index heavyweight, will today announce its earnings for the three months ended December. Separately, state-owned mining major Coal India Ltd on Tuesday reported a 14% year-on-year fall in consolidated net profit for the third quarter to ₹3,921.8 crore.
IRCON: The state-owned engineering and construction company declared an interim dividend of ₹13.45 per share, about 134.50% of the paid-up equity share capital, for the financial year ending March 2020. The dividend will be paid 2 March onwards, according to a regulatory filing.
Ashok Leyland: The heavy vehicle manufacturer will today announce its earnings for the December quarter. Separately, direct-to-home (DTH) services provider Dish TV India Ltd and state-owned management consulting firm NBCC (India) Ltd will report their financial results for the third quarter.
Aster DM Healthcare: The drug maker on Tuesday said independent director Maniedath Madhavan Nambiar has resigned from its board, effective 11 February. Nambiar’s resignations comes in the wake of his other professional engagements leading to conflict to interest, the company said.
IRCTC: The Indian railways tourism and catering company will announce its earnings for the quarter ended December today. Shares of the railway subsidiary on Tuesday slumped 7% ahead of the earnings. The state-owned company has been performing exceptionally well since it made its stock market debut in October.
Syndicate Bank: The state-owned bank on Tuesday said its net profit for the December quarter grew manifold to ₹434.82 crore as bad loans declined. The lender had posted a profit of ₹107.99 crore in the year-ago period. Total income during the quarter increased to ₹6,316.57 crore from ₹6,077.62 crore in the same period of 2018-19, the bank said in a regulatory filing.
BHEL: The state-owned company’s net profit fell 17.3% year-on-year to ₹158.8 crore for the December quarter. Revenue from operations also declined 22.6% to ₹5,679.3 crore from the year-ago period.