Here is a list of top ten stocks that may be in focus on Thursday:
Reliance Industries: Microsoft Corporation is negotiating an investment of $2 billion in Mukesh Ambani's Jio Platforms Ltd, the digital unit of India’s most valuable company, according to a Mint report. If successful, Microsoft will get a share of Jio Platforms that has already attracted investments worth $10 billion in just a month from Facebook Inc, KKR & Co, Silver Lake, Vista Equity Partners and General Atlantic.
State Bank India: The lender said it has decided to automatically extend the loan moratorium by three more months for all eligible borrowers without waiting for their request. Ever since the Reserve Bank of India (RBI) allowed banks to extend the moratorium, borrowers have been trying to figure out whether the extension will be automatic or they will have to reapply.
Maruti Suzuki: The auto giant is exploring the possibility of entering the vehicle leasing business for its retail customers, as per a Mint report. The plan has been in the works for about a year and is being spearheaded by a special projects team.
Lupin: The pharmaceutical company will today announce its earnings for the March quarter. Separately, Federal Bank, LT Foods, IIFL Finance, TVS Motor, Rain Industries, Ceat, Muthoot Capital Services will also report their January-March results.
Adani Power: The company signed a power-purchase agreement with the Madhya Pradesh government to procure 1,230 MW of electricity on a long-term basis from a new power station of 1,320 MW capacity to be set up on super critical technology.
Bharat Forge: The technology and engineering firm said its operations in Germany resumed from the beginning of May, while plants in North American and Sweden continued to operate to address customer demand, albeit at sub-optimal utilisation.
Future Consumer: The board approved termination of the joint venture (JV) pact with Mibelle AG and liquidation of the JV firm, Mibelle Future Consumer Products AG in Switzerland. There is no material impact on the business of the company consequent to this termination, as per a regulatory filing.
United Spirits: The liquor maker's standalone net profit declined a sharp 81.1% year-on-year (YoY) to ₹23.9 crore during the March quarter. Revenue from operations was down 11.4% YoY at ₹1,993.8 crore. The firm's margins improved to 13.6% from 12.6% a year ago due to lower employee and ad expenses
Indian Hotels: The board of the hotel and hospitality company, on 30 May, will consider raising funds worth ₹300 crore through the issuance of non-convertible debentures (NCDs).
Ujjivan Financial Services: The company's net interest income (NII) rose 40.7% YoY to ₹496.2 crore during the March quarter. Consolidated net profit increased a sharp 48.5% YoY to ₹64 crore. The non-bank financier made a provision of ₹70 crore to mitigate the impact of coronavirus-related losses.