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Photo: Mint
Photo: Mint

Stocks to Watch: RIL, Kotak Mahindra Bank, Sun Pharma, Titan, Deepak Nitrite

  • Mukesh Ambani-led Reliance Industries plans an overseas listing of its digital subsidiary, Jio Platforms
  • Kotak Mahindra Bank will launch its qualified institutional placement, or QIP, offering to raise up to 7,500 crore

Here is a list of top ten stocks that may be in focus on Wednesday:

Reliance Industries: After bagging multi-billion dollar deals from marquee investors in the last one month, billionaire Mukesh Ambani’s company plans an overseas listing of its digital subsidiary Jio Platforms Ltd, according to a Mint report.

Kotak Mahindra Bank: The private lender will launch its qualified institutional placement (QIP) offering to raise up to 7,500 crore. The bank said it has set a floor price of 1,147.75 per share for the offering. According to the Securities and Exchange Board of India (Sebi) norms, the lender can offer a maximum discount of up to 5% on the floor price to investors.

Bharti Airtel: Parent Bharti Telecom Ltd said it raised over 8,433 crore through accelerated book-build offering of equity shares of the telecom player. Sale proceeds will be fully utilised to repay debt at and make the promoter holding company debt free.

Sun Pharmaceutical: The pharma major will announce its earnings for January-March today. Separately, Dabur India Ltd, Ujjivan Financial Services, JSW Holdings and United Spirits will also report their financial results for the March quarter.

Coal India: The state-owned firm's consultancy arm, CMPDIL has been roped in by NTPC Ltd to make separate mining plans for Banai and Bhalumuda coal mines in Chhattisgarh with an aim to maximise the extractable reserves by merging operations of the two mines, according to a Bloomberg report.

Titan Company: The watch and jewellery company said it saw virtually no sale from 17 March til the first week of May due to the coronavirus-led lockdown. The firm is gradually re-opening stores and 43% of its stores are currently operational. The company has guided for low visibility on revenue and that customer demand sentiment is pointing to reduced discretionary spends.

Deepak Nitrite: The chemical maker's profit rose to 172.30 crore in the March quarter, against 91.46 crore in the same period of fiscal 2019. Revenue from operations increased to 1,055.54 crore during Q4, compared to 1,008 cr a year ago.

Torrent Pharma: The drug maker reported net profit of 314 crore for the March quarter, against net loss of 152 crore in the same period last year. The firm had an exceptional loss of 357 crore in Q4FY20. Synergies from acquired Unichem Laboratories portfolio, incremental productivity and cost control aided margins.

Max Financial Services: The company's consolidated net profit after tax declined a sharp 96% year-on-year (YoY) to 6.67 crore in January-March due to the impact of a tax dispute settlement and the coronavirus disruptions. The company had posted net profit of 199.91 crore in the same period last year.

Century Plyboards: Cyclone Amphan has caused extensive damage to the factory shed and building at Joka near Kolkata. The plant has partially shut down production and is adequately covered under insurance. The overall impact is unlikely to be material.

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