Stocks to Watch: RIL, IndusInd Bank, Nestle, Bharti Airtel, Yes Bank, InterGlobe Aviation2 min read . Updated: 29 Jul 2020, 07:53 AM IST
- Sovereign fund Qatar Investment Authority is in advanced talks with RIL to invest around $1.5 billion in JioFiber
- IndusInd Bank reported 67.8% decline in net profit to ₹460.64 crore in the June quarter, driven down by a five-fold increase in provisions for bad loans, special fund for covid-19
NEW DELHI : Here’s a list of stocks that may be on news on Wednesday:
RIL: Sovereign fund Qatar Investment Authority is in advanced talks with Reliance Industries Ltd (RIL) to invest around $1.5 billion (about ₹11,200 crore) in JioFiber, according to a Mint report.
IndusInd Bank: The Hinduja Group-promoted IndusInd Bank reported 67.8% decline in net profit to ₹460.64 crore in the June quarter, driven down by a five-fold increase in provisions for bad loans and special capital allocations for the pandemic.
RBL Bank: Excess provisions of ₹460 crore led small sized private sector lender RBL Bank to report a 47% decline in June quarter net profit at ₹141 crore. The bank said it set aside ₹240 crore for covid-19 related provisions, taking the total money set aside due to possible reverses because of the pandemic to ₹350 crore.
Nestle India: FMCG major Nestle India Ltd on Tuesday reported a 11.14% increase in net profit at ₹486.60 crore for the quarter ended June 2020, helped by increase in sales. The company, which follows January-December financial year, had posted a profit of ₹437.79 crore in the same quarter a year ago.
NIIT Technologies: The IT company posted 20.6% decline in net profit at ₹79.9 crore for June quarter 2020-21. NIIT Technologies had reported a net profit of ₹100.6 crore in April-June period of the last financial year, it said in a statement.
Yes Bank: Private sector lender Yes Bank reported 60% fall in its standalone net profit to ₹45.44 crore for the first quarter ended June 30. It had posted a net profit of ₹113.76 crore in the same period a year ago, and ₹2,629 crore in the preceding March quarter.
Havells India: Fast moving electrical goods maker Havells India will raise ₹500 crore through issuance of commercial paper. The company's executive committee in its meeting on Tuesday approved the issuance of commercial papers for an amount of ₹500 crore, Havells India said in a regulatory filing.
IDFC First Bank: The Mumbai-headquartered private sector lender reported a net profit of ₹94 crore in the first quarter ended June of the current fiscal year. IDFC First Bank had posted a net loss of ₹617 crore in the corresponding June quarter of previous fiscal year.
Bank of Baroda: State-owned Bank of Baroda has raised ₹981 crore by issuing additional tier-1 bonds under Basel III norms. The bank had on 24 July issued and allotted the "unsecured rated listed subordinated non-convertible fully paid up Basel III additional tier-1 perpetual bonds" for an issue size of ₹981 crore, it said in a regulatory filing.
Earnings: Bharti Airtel, Dr. Reddy’s Laboratories, GSK Pharma, Maruti Suzuki and InterGlobe Aviation among other companies will announce their earnings for June quarter today.