Stocks to Watch: Mindtree, DHFL, Zee Entertainment, TVS Motor, BPCL2 min read . Updated: 17 Oct 2019, 08:45 AM IST
- Zee Entertainment will announce its earnings for the September quarter today
- ONGC is likely to sell its stake in HPCL
NEW DELHI : Here is a list of top 10 stocks that are likely to be in focus on Thursday:
DHFL: Lenders to the company hope they will be able to pass the resolution plan even as mutual funds abstain from signing the inter-creditor agreement, Union Bank of India Chief Executive Officer Rajkiran Rai G said. Union Bank is leading the consortium of lenders working on the debt-restructuring plan for Dewan Housing Finance Corporation Ltd.
Mindtree: The Bengaluru-based IT services firm posted its earnings for the September quarter after market hours on Wednesday. The mid-sized company’s second-quarter growth improved sequentially both in terms of revenue and profit margins. Mindtree’s revenues were up 3.2% quarter on quarter in constant currency terms and up 11.1% year-on-year in line with the Street’s estimates.
Zee Entertainment: The company, surrounded by concerns over financial stress, will announce its earnings for the September quarter today. In another development, Russia’s VTB Capital Plc said it has acquired rights to sell Essel Media Ventures Ltd’s 10.71% stake in Zee Entertainment Enterprises Ltd to recover loan dues. VTB Capital is in talks with two potential investors to sell the said stake.
Bharti Airtel: Swedish telecom gear maker Ericsson on Wednesday signed a deal with Bharti Airtel Ltd to deploy its 5G-ready Cloud packet core in the domestic telecom major's network in the country. The deployment would enhance capacity in Airtel's network and enable it to address the rapidly-growing demand for high-speed data services, Ericsson said in a statement.
TVS Motor: Investors will watch this space as the two-wheeler manufacturing company will post its September quarter earnings today. Demand slowdown in the auto sector has impacted sales of the company, with sales declining more than 25% to 315,912 units in September as against 423,939 units in the same month last year.
Bajaj Auto: India's second largest motorcycle manufacturer on Wednesday announced that it will again foray into the scooter market with the launch of electronic scooter Chetak. This after the auto company stopped manufacturing scooters a decade ago. The Pune-based company did not reveal the price of the product and will announce it before beginning dispatches.
HDIL: Promoters of bankrupt real estate firm Housing Development Infrastructure Ltd have written a letter to the Reserve Bank of India (RBI) and other agencies to sell their assets and repay the loans owed to Punjab and Maharashtra Cooperative Bank Ltd (PMC). HDIL promoters have allegedly siphoned off funds worth Ra 6,500 crore with the help of PMC Bank management.
HPCL: Oil and Natural Gas Corporation Ltd (ONGC) is likely to sell its stake in Hindustan Petroleum Corporation Ltd (HPCL) as the company is reportedly grappling with the latter’s cost and not able to derive profit from HPCL’s acquisition. Oil Minister Dharmendra Pradhan also said ONGC, which last year acquired HPCL for a massive ₹36,915 crore, was free to divest its stake.
ONGC: The government plans to get ONGC to sell it entire 51.11% stake in HPCL as it can fetch high dividend for the government. Despite being the majority stakeholder in the company, ONGC has only got one member on the board and no say in the management. The government has repealed the act that had nationalised both HPCL and Bharat Petroleum Corporation Ltd.