Home >Markets >Stock Markets >Stocks to Watch: RIL, Bharti Airtel, HDFC, Adani Power, Torrent Pharma
Photo: Reuters
Photo: Reuters

Stocks to Watch: RIL, Bharti Airtel, HDFC, Adani Power, Torrent Pharma

  • RIL, country's largest listed company by market capitalisation, reported consolidated net profit of 13,248 crore during April-June quarter
  • Mortgage lender HDFC Ltd on Thursday said the company's shareholders have approved raising up to 1.25 lakh crore

NEW DELHI : Here’s a list of stocks that may be in news on Friday:

RIL: Reliance Industries Ltd (RIL), country's largest listed company by market capitalisation, reported consolidated net profit of 13,248 crore during April-June quarter, aided by exceptional income of 4,966 crore. The oil-to-telecom conglomerate witnessed 31% jump in its net profit when compared to 10,141 crore it reported in June 2019.

Bharti Airtel: The telecom operator’s chief executive officer Gopal Vittal hinted at another tariff hike, stressing that the telecom company’s average revenue per user (Arpu) needs to move to 200, and eventually to 300 per month, for a sustainable business model. Vittal, however, did not specify the timeline for hike in calls and data tariffs. He was speaking at an analysts’ call a day after the telco reported a loss of 15,933 crore for the June quarter.

HDFC: Mortgage lender HDFC Ltd on Thursday said the company's shareholders have approved raising up to 1.25 lakh crore by issuing bonds or other hybrid instruments on a private placement basis. The approval was received at the company's annual general meeting (AGM) held through audio visual medium.

Tata Power: The company has received shareholders' approval to raise 2,600 crore via issuance of preferential shares to its promoter Tata Sons. The resolution was approved at the company's annual general meeting with requisite majority.

Lakshmi Vilas Bank: The lender reported narrowing of its net loss to 112.28 crore for the first quarter of the current fiscal, even as there was a substantial spike in bad loans. Lakshmi Vilas Bank had posted a net loss of 237.25 crore in the same period of the previous financial year.

Shriram Transport: Commercial vehicles financier Shriram Transport Finance Co Ltd (STFC) closed its rights issue with a subscription of 1.61 times on the final day of the offering. The 1500-crore Rights Issue received cumulative bids for 4,22 crore shares against the total issue size of 2.61 crore shares. STFC had set a price of 570 per share for the rights offering.

AU Small Finance Bank: Private equity investor Warburg Pincus on Thursday sold 2.26% stake in AU Small Finance Bank for 516.74 crore, through open market transactions. The block deal data available with the BSE showed that Redwood Investment Ltd, an entity owned by Warburg Pincus, disposed 6.92 million shares, or 2.26% stake in the bank. The shares were sold at an average price of 746.40, valuing the transactions at 517 crore.

Adani Power: The Competition Commission has approved Adani Power's proposed purchase of 49% stake in Odisha Power Generation Corporation Ltd (OPGC). In June, Adani Power announced acquiring US-based The AES Corporation's 49% stake in OPGC for USD 135 million (around 1,019 crore).

Torrent Pharma: The company reported a 48.61% rise in its consolidated net profit to 321 crore for the quarter ended June 30, 2020, mainly on account of robust sales in the Indian market. Torrent Pharma had posted a net profit of 216 crore for the corresponding period of the previous fiscal.

Tata Communications: The company posted over threefold jump in its consolidated profit after tax to 258 crore in the first quarter ended June 30, on the back of jump in data business. The company had registered a profit of 77 crore in the corresponding period of the previous year.

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