BackStocks to Watch: InterGlobe Aviation, Aurobindo Pharma, Tata Power, Ultratech Cement, IT companies
Private equity firm Westbridge Capital has bought 5.43 million shares or 1.41% stake in InterGlobe Aviation Ltd for ₹559 croreAurobindo Pharma reported a 22.81% rise in its consolidated net profit to ₹780.68 crore for the quarter ended on 30 June
PremiumNEW DELHI : Here’s a list of top ten stocks that may be in news on Thursday:
InterGlobe Aviation: Private equity firm Westbridge Capital has bought 5.43 million shares or 1.41% stake in InterGlobe Aviation Ltd, which runs India's largest domestic airline IndiGo, for ₹559 crore through an open market transaction.
Aurobindo Pharma: The pharma company reported a 22.81% rise in its consolidated net profit to ₹780.68 crore for the quarter ended on 30 June, mainly on account of robust sales in the US market. Aurobindo Pharma had posted a net profit of ₹635.68 crore for the corresponding period of the previous fiscal.
Ashok Leyland: Hinduja Group flagship firm Ashok Leyland reported a consolidated net loss of ₹388.82 crore for the first quarter ended June 30, owing to the coronavirus pandemic. The commercial vehicle maker had posted a net profit of ₹274.96 crore for the April-June 2019 quarter.
IT Companies: The Trump administration has relaxed some rules for H-1B visas holders allowing them to enter the United States if they are returning to the same jobs they had prior to the proclamation of the visa ban. The US Department of State advisory said dependents (spouses and children) will also be allowed to travel along with primary visa holders.
Ultratech Cement: India’s largest cement company Ultratech Cement Ltd will invest ₹1,500 crore in capital expenditure this fiscal despite the constraints of an ongoing pandemic, according to a Mint report. With a slew of acquisitions made in the last two years, Ultratech’s global capacity is now 114.8 million tonnes per annum and is the is the only company to have a capacity of over 100 million tonnes in a single country, outside of China.
Tata Power: The company’s consolidated net profit rose by 10% to ₹268 crore for quarter ended June on the back of reduced expenses. Tata Power had posted a net profit of ₹243 crore during the same period a year ago.
Auto companies: The government has allowed the sale and registration of electric vehicles without pre-fitted batteries, a move which will reduce the upfront cost of these vehicles. The battery, which accounts for about 30-40% of the total cost of EVs, can be provided separately by companies.
Indiabulls Housing Finance: Sameer Gehlaut, co-founder and chairman of Indiabulls Housing Finance Ltd ( IBHFL) has stepped down from his current position in the mortgage lender. In regulatory filing IBHFL said that Gehlaut will be replaced by SS Mundra, former deputy governor of Reserve Bank of India, while Gehlot will take charge as the chief executive of subsidiary Indiabulls Ventures with immediate effect.
Mahindra Finance: The ₹3,089 crore rights issue of Mahindra & Mahindra Financial Services (Mahindra Finance) was subscribed 1.3 times on Wednesday, the final day of the share sale, the company said in a statement.
Thermax: The company reported a consolidated net loss of ₹15.27 crore for the quarter ended 30 June. Thermax Ltd had posted a ₹62.76 crore net profit during the corresponding quarter of the previous financial year.
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