New Delhi: Here is a list of top 10 stocks that may be in focus on Friday:
Yes Bank: The bank on Thursday said it has received a binding offer of $1.2 billion from a global investor. The investment will be made through fresh issuance of equity shares. The private lender, which will announce its September quarter earnings today, also said the investment is subject to the approval of regulators, bank’s board and shareholders. Shares had soared nearly 27% on Thursday after the bank informed exchanges about getting an investment offer.
RIL: Reliance Jio Infocomm Ltd, one of the three core members of the Cellular Operators Association of India, on Thursday urged the government to not offer any relief sought by the industry body following the Supreme Court verdict on adjusted gross revenue. Reliance Jio said incumbent operators—Bharti Airtel Ltd and Vodafone Idea Ltd—have enough funds to pay dues.
IndusInd Bank: The private lender has finalised a potential candidate for the position of managing director and chief and executive officer to succeed Romesh Sobti, whose term will come to an end in March 2020. In an exchange filing, the bank said the appointment is subject to Reserve Bank of India’s approval, following which it would disclose the name to the exchanges.
SBI: The stock was one of the top gainers among Nifty 50 companies on Thursday. Strong performance in the September quarter earnings has been buoying investor sentiment. Brokerage houses remain bullish on the largest public-sector bank as the management expects improvement in asset quality and higher growth in the next fiscal.
HCL Tech: The IT company and Google Cloud on Thursday announced the launch of HCL Technologies Ltd’s Google Cloud Business Unit to accelerate enterprise cloud adoption worldwide. This newly-formed dedicated business group within HCL will be supported by engineering solutions and business teams from Google Cloud.
Bajaj Auto: The auto major and TVS Motor Company Ltd have decided to settle a decade-old dispute and mutually withdraw a case relating to alleged infringement of Bajaj Auto Ltd’s patent number, defamation suit filed by TVS Motor and other proceedings. The companies have released each other from all liabilities, claims, demands and action relating to the pending proceedings.
Vodafone Idea: UK-based Vodafone Group quashed rumours of plans to exit India and reiterated that it would support the local management in the country. The company said it is also actively engaging with the Indian government. News agency IANS had reported that Vodafone Idea may discontinue India operations due to its inability to pay penalty in the adjusted gross revenue case amid piling debt.
Hero MotoCorp: The company’s Haridwar manufacturing facility in Uttarakhand has surpassed 25 million units in cumulative production, creating a new industry record. The world’s largest two-wheeler manufacturing plant in Haridwar was commissioned in April 2008 and has an installed capacity of 9,500 vehicles per day.
Dr Reddy’s: The pharmaceutical company will release its July-September earnings today. The drugmaker recently recalled all ranitidine tablets for retail counters in the US due to the presence of the carcinogen N-nitrosodimethylamine above levels set by the US Food and Drug Administration. The company does not sell ranitidine in India.
Bank of India: The state-owned bank will announce its earnings for the quarter ended September today. Another public-sector lender Central Bank of India will also report its earnings for the second quarter. Shares of Central Bank had jumped nearly 12% on Thursday after the bank said it will raise equity capital by allotting preferential shares to the government.