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Stocks to Watch: Reliance, Dr Reddy's, SBI, Future Group companies

On Wednesday, the Sensex closed above 50,000-mark for the first time ever, rising 458.03 points or 0.92% to end at 50,255.75. The Nifty gained 142.10 points or 0.97%, ending at 14,789.95. (Photo: PTI)Premium
On Wednesday, the Sensex closed above 50,000-mark for the first time ever, rising 458.03 points or 0.92% to end at 50,255.75. The Nifty gained 142.10 points or 0.97%, ending at 14,789.95. (Photo: PTI)

  • State Bank of India, Hero MotoCorp, Adani Power, Adani Transmission, HPCL, Kalpataru Power Transmission, NTPC, Tata Power, Trent, Zee Entertainment Enterprises, are among the companies that will report December quarter results today

NEW DELHI: Here is the list of top 10 stocks that could be in focus on Thursday.

Reliance Industries: The Future Group on Wednesday challenged the Delhi high court interim order that directed it to abide by a Singapore tribunal ruling, barring it from selling its assets to Reliance Industries Ltd. Future Group is caught in a feud between Amazon and Reliance, which are competing for dominance in India’s $1 trillion consumer retail market.

Dr Reddy's Laboratories: Shares of the pharma major jumped 4% on the National Stock Exchange on Wednesday, after peer-reviewed phase-3 trial results of Russia’s Sputnik V vaccine published in The Lancet showed an efficacy of 91.6%. These are the highest efficacy figures so far for vaccines that could potentially come to India.

State Bank of India: Will release its December quarter earnings today. The country's largest lender, is likely to see a decline in profitability due to higher provisions, but could get support from lower tax cost for the quarter ended December 2020. Net interest income is expected to grow 2-4% due to high base and fall in deposit rates with loan growth around 6-8% YoY.

Future Group: India’s markets regulator has barred Future Group founder Kishore Biyani and several related entities, including his brother Anil, from accessing the securities market in an insider trading case dating back to 2017. Biyani, a pioneer of Indian retail, has also been barred from transacting in securities of Future Retail for two years.

Bharti Airtel: After six straight quarters of losses, Bharti Airtel Ltd returned to the black in the December quarter because of a one-time gain from the merger of its tower subsidiary and Indus Towers Ltd. India’s second-largest telecom operator on Wednesday reported a consolidated net profit of 854 crore for the three months ended December. It had posted a loss of 1,035 crore in the year-ago period.

Jubilant FoodWorks: The operator of Domino’s Pizza and Dunkin’ Donuts restaurants in India, reported a 22% rise in quarterly profit because of a surge in delivery and takeaway sales. Net profit rose to 123.91 crore in the three months ended 31 December from 101.80 crore in the year earlier. Consolidated revenue from operations, however, fell marginally to 1,069.27 crore from 1,071 crore due to seating-capacity restrictions in restaurants.

HeroMoto Corp: Has appointed Ravi Avalur as the head of its new business unit that will be responsible for Harley-Davidson Inc.’s motorcycle business in India. Avalur was the former managing director of Italian motorcycle maker, Ducati, in India, and will report to Hero MotoCorp chairman Pawan Munjal. The two-wheeler maker will also report its December quarter results today.

Telecom stocks: The Department of Telecommunications (DoT) has accepted a petition from telecom companies seeking a truncated tenure for bank guarantees with a validity of one year instead of the mandated three as lenders are reluctant to provide fresh backing for a longer period. Bharti Airtel and Vodafone Idea are said to be in talks with SBI, HDFC Bank, Axis Bank for fresh guarantees ahead of airwave auctions that start 1 March.

Cipla Ltd: The company plans to shift more brands from its generic drugs business to its consumer health operations under Cipla Health Ltd, the pharmaceutical giant’s global chief financial officer Kedar Upadhye told Mint.

Apollo Tyres: Reported a 150% year-on-year increase in consolidated net profit of Rs444 crore for the quarter ended 31 December, as vehicle production returned to pre-Covid level in India and foreign markets. It had reported a net profit of Rs174 crore in the year-ago period. Sales during the December quarter grew 14% to 4,965 crore.

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