NEW DELHI :
Here’s a list of top stocks that may be in news on Thursday:
RIL: Reliance BP Mobility Ltd (RBML), a joint venture of Reliance Industries (RIL) and UK’s energy major BP Plc, will set up battery swapping stations at its fuel outlets and spend around ₹3000 crore to expand the fuel retail network, according to a Mint report. RIL and BP, which set up RBML this month, will operate under the Jio-BP brand. BP will pay ₹7,000 crore to RIL for its 49% stake in the venture.
InterGlobe Aviation: The company reported a net loss of ₹2,844.3 crore for the three months ended June due to disruptions caused by the coronavirus pandemic. InterGlobe Aviation Limited, which operates the country's largest airline IndiGo, had reported a net profit of ₹1,203.1 crore in the year-ago period.
Bharti Airtel: The telecom operator reported a consolidated net loss of ₹15,933 crore for June quarter -- its fifth straight quarter of decline -- as the telco made additional provision for statutory dues. During the June quarter, the company recorded an incremental provision of ₹10,744.4 crore towards adjusted gross revenue (AGR) dues it owes to the government.
TVS Motor Company: The Chennai-based auto maker reported a standalone net loss of ₹139.1 crore for the first quarter ended 30 June 30, with covid-19 severely impacting sales during the period. The company had posted a profit after tax of ₹142.3 crore for April-June, 2019-20.
Ceat: The company reported a consolidated net loss of ₹35.24 crore for the first quarter ended 30 June. Ceat Ltd had posted a consolidated net profit of ₹82.2 crore in the same period last fiscal.
GSK Pharma: Drug firm GlaxoSmithKline Pharmaceuticals reported 2.38% fall in its net profit to ₹110.83 crore for the first quarter ended 30 June. The company had posted a net profit of ₹113.54 crore in the corresponding period previous fiscal.
Glenmark Pharma: S&P Global Ratings has placed 'BB-' long-term issuer credit rating on Glenmark Pharmaceuticals on CreditWatch with negative implications. “Glenmark Pharmaceuticals Ltd. faces several bullet debt maturities totalling $340 million in 2021, including a put option on its foreign currency convertible bonds (FCCBs). Funding requirements are substantial and challenging market conditions could strain its ability to raise funds, significantly weakening its liquidity," the ratings agency said.
Eicher Motors: In a regulatory filing disclosing the impact of covid-19 on its overall operations, the company said its profitability for the first quarter of FY21 will be impacted due to the country-wide lockdown. However, it added that the company has adequate financial resources to run its operations smoothly. The company has successfully cleared all existing inventory of BS-IV motorcycles across channels and dealerships as on 20 March.
Yes Bank: Private sector lender Yes bank Ltd has taken possession of Reliance Centre, the headquarter building of Anil Dhirubhai Ambani Group (ADAG) in Mumbai. The move to take over the buildings of ADAG comes after the Anil Ambani group failed to repay dues worth ₹2892 crore that it owes to the bank. The group has a total exposure of nearly ₹12,000 crore to the private sector lender.
Earnings: Reliance Industries, HDFC, Piramal Enterprises, Lakshmi Vilas Bank and Torrent Pharma among other companies will announce their earnings for the quarter ended 30 June today.