BackStocks to Watch: RIL, Cipla, Tata Motors, Maruti Suzuki, PNB, Cadila Healthcare
Jio Platforms has signed up Public Investment Fund as its tenth foreign investor in just over 8 weeksMoody's Investors Service has downgraded Tata Motors rating as the company faces tough market conditions amid the coronavirus pandemic
PremiumNEW DELHI : Here’s a list of stocks that may be in news on Friday:
Reliance Industries: Jio Platforms, a wholly owned subsidiary of Reliance Industries, has signed up Public Investment Fund (PIF) as its tenth foreign investor in just over 8 weeks. The Saudi Arabian sovereign wealth fund will pick up 2.32% stake in the Reliance Industries subsidiary for ₹11,367 crore ($1.5 billion).
Pharma companies: Directorate General of Foreign Trade (DGFT) has lifted the export ban on Hydroxychloroquine API and its formulations with immediate effect. The government on 25 March had banned the export of the drug, which was touted as a promising medicine to treat coronavirus.
Tata Motors: Moody's Investors Service has downgraded Tata Motors rating as the company faces tough market conditions amid the coronavirus pandemic. The rating agency said it has downgraded Tata Motors' corporate family rating (CFR) and senior unsecured instruments rating to B1 from Ba3.
City Union Bank: The private sector lender reported a loss of ₹95.25 crore for the fourth quarter ended March 2020, due to a spike in bad loan provisioning. City Union Bank had posted a net profit of ₹175.11 crore during the corresponding quarter of the previous financial year 2018-19.
Cipla: Drug firm Roche Pharma India on Thursday said it has expanded its partnership with domestic pharma major Cipla to further improve access to its key oncology medicines in India.
MOIL: Sate-run MOIL reported a sharp fall of over 90% in its consolidated net profit at ₹13.47 crore for the quarter ended March 31, 2020, mainly on account of reduced income. The company had posted a net profit of ₹139.63 crore during the same quarter a year ago.
Maruti Suzuki: Osamu Suzuki, chairman of Maruti Suzuki India Ltd’s Japanese parent, has urged parts suppliers to its Indian unit to boost output and build a sizeable inventory to meet demand from the carmaker even if a second wave of coronavirus infections sweeps through the country and disrupts production. This is the first time in more than a decade that the 90-year-old patriarch of Suzuki Motor Corp. has personally reached out to Maruti’s vendors.
IRB Infrastructure Developers: The company has achieved the ₹6,610 crore financial closure for its first and India's largest TOT (toll-operate-transfer) project 'Mumbai Pune Expressway'.
Q4 earnings: Novartis India, Unichem Laboratories, Cadila Healthcare, Punjab National Bank, LIC Housing Finance, Oil India, Bajaj Electricals among other companies will announce their earning for the quarter ended 31 March,
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