Stocks to Watch: M&M, DLF, Sun Pharma, Mindtree, DHFL, PNB Housing2 min read . Updated: 08 Nov 2019, 08:31 AM IST
- Mahindra and Mahindra will announce its earnings for the September quarter today
- PNB Housing on Thursday said LIC has invested ₹2,500 crore by subscribing to its secured redeemable NCDs
New Delhi: Here is a list of top 10 stocks that may be in focus on Friday:
Hero Motocorp: The auto major on Thursday announced that it will launch a new variant of its Splendour i-Smart motorcycle, which will adhere to the Bharat Stage 6 emission norms. The Delhi-based manufacturer will be the first one to launch a motorcycle complying with the new emission norms set to kick in from 1 April 2019.
DLF: India’s largest real estate company reported an 18.8% rise in net profit to ₹443.4 crore in the September quarter mainly on account of lower expenses. DLF Ltd also announced the appointment of Vivek Anand as group chief financial officer, replacing Ashok Tyagi who continues to be a whole-time director in the company.
M&M: The auto company will announce its earnings for the September quarter today. Investors will watch this space as the firm is grappling with dwindling sales amid an economic slowdown. Total sales fell 11% year-on-year to 51,896 in October. In the domestic market too, sales were down 11%. Ashok Leyland Ltd and Eicher Motors Ltd will also announce their results for July-September.
Sun Pharma: The pharmaceutical major on Thursday reported a consolidated net profit of ₹1,064 crore for the September quarter, against a loss of ₹269.6 crore a year ago. The company had made a loss in July-September last year due to part payment of ₹1,238 crore for an anti-trust litigation settlement in 2017 with Canada-based Apotex Corporation in relation to the drug modafinil used to treat sleepiness.
Mindtree: The IT services company’s chief financial officer Praful Kumar Menon resigned after spending a little over a year at the post. This is the latest exit from the firm since its hostile takeover by engineering and construction giant Larsen and Toubro Ltd in June 2019. Menon’s exit follows a series of senior executives leaving the Bengaluru-based firm in recent months.
PNB Housing: The company on Thursday said Life Insurance Corporation has invested ₹2,500 crore by subscribing to its secured redeemable non-convertible debentures through private placement with a tenure of 10 years. The housing finance subsidiary of state-run Punjab National Bank said proceeds will be used for normal course of business operations.
GlaxoSmithKline Consumer: The drug maker on Thursday reported a 25.3% increase in net profit to ₹345.3 crore in the quarter ended September. The company had posted a net profit of ₹275.5 crore in the same period last year. Net profit rose on the back of higher total income, which jumped ₹1,423.2 crore in July-September compared with ₹1,361 crore a year ago.
Bank of Baroda: The public-sector Bank will report its earnings for the quarter ended September today. Another state-owned lender IDBI Bank Ltd will announce the numbers for the second quarter. Separately, GAIL (India) Ltd is also scheduled to release its earnings for July-September.
DHFL: The Bombay High Court on Thursday restricted the promoters of the company—Kapil Wadhawan and Dheeraj Wadhawan—from travelling abroad in response to a plea filed by 63 Moons Technologies Ltd seeking to recover about ₹200 crore in dues. Jignesh Shah-led 63 Moons had moved the court on Monday to protect its investment in non-convertible debentures issued by DHFL.
United Breweries: The company, after market hours on Thursday, reported a 29.4% decline in consolidated net profit to ₹114.8 crore in the second quarter ended September due to heavy monsoon rains across the country, cost pressures and overall slowdown in the economy. The maker of beer brand Kingfisher had posted a profit of ₹162.6 crore in the year-ago period.