Stocks to Watch: RIL, Nestle, IndiGo, Vedanta, Jubilant Life Sciences
RIL on Tuesday returned to the debt market for the second time raising a total of ₹10,060 crore through bonds of different tenorsFMCG major Nestle India Ltd reported a 13.54% rise in its net profit at ₹525.43 crore for the first quarter ended March 2020
PremiumNEW DELHI : Here's a lost of top stocks that could be in news in Wednesday's trade:
Reliance Industries (RIL): The company on Tuesday returned to the debt market for the second time raising a total of ₹10,060 crore through bonds of different tenors. RIL with a long-term debt rating of AAA, raised ₹4235 crore for a 3-year 4-month period at a fixed coupon rate of 7.05%. The company raised ₹825 crore for a 3-year period at a fixed coupon rate of 6.95% and the remaining ₹5000 crore for a 2-year 10-month period at a coupon rate of 6.95%.
Nestle: FMCG major Nestle India Ltd reported a 13.54% rise in its net profit at ₹525.43 crore for the first quarter ended March 2020. The company, which follows January-December as its financial year, had posted a net profit of ₹462.74 crore in the same period a year ago.
IndiGo, SpiceJet: India's civil aviation ministry said on Tuesday that it is yet to take a decision on standard operating procedures for restarting flights and have asked airlines for their inputs. Domestic airlines have been pressing the government for resumption of flights soon.Airlines have been told to prepare for bookings after May 18.
Vedanta: Billionaire Anil Agarwal on Tuesday announced plans to delist his Indian flagship Vedanta Ltd by buying out nearly 49% of public shareholding at ₹87.5 apiece. Vedanta Ltd, whose shares have fallen more than 40% this year, houses commodity as well as oil and gas business. The company had a market value of under ₹33,200 crore going by Tuesday's closing price of ₹89.30 on the BSE.
Bandhan Bank: The lender on Tuesday said its net profit for March quarter, 2019-20 stood at ₹517.28 crore. Bandhan Bank has made special provisions related to covid-19, during the quarter. The bank registered a net profit of ₹650.87 crore during January-March, 2018-19.
Cipla, Jubilant Life Sciences: Gilead Sciences Inc has signed non-exclusive voluntary licensing agreements with Cipla Ltd and Jubilant Life Sciences on a royalty-free basis till a new drug or vaccine is developed against covid-19, the US-based firm said in a release late Tuesday.
JK Paper: The company reported a 17.91% decline in consolidated net profit at ₹92.72 crore for the fourth quarter ended March 2020 due to covid-19 and subsequent disruptions. JK Paper had posted a net profit of ₹112.96 crore in January-March quarter a year ago.
Indiamart: B2B e-commerce company Indiamart Intermesh Ltd has posted a 57% rise in consolidated net profit to ₹44 crore in the fourth quarter ended on March 31, 2020. The company had recorded a net profit of ₹28.2 crore in the same period of 2018-19.
Havells: Consumer electrical goods maker Havells India Ltd has reported a 10.69% fall in its consolidated net profit to ₹177.73 crore for the fourth quarter ended March 31. The company had posted a consolidated net profit of ₹199.01 crore in the January-March quarter a year ago.
Q4 results: Maruti Suzuki, Kotak Mahindra Bank and Godrej Consumer Products among others will announce their earnings for the quarter ended 31 March today.
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