Stocks to Watch: SBI, Lupin, Eicher Motors, Wipro, Sundram Fasteners2 min read . Updated: 12 Jun 2020, 08:03 AM IST
- SBI will sell 2.10% stake in SBI Life Insurance through an offer for sale. The bank held 57.60% stake in SBI Life as on 31 March
- Eicher Motors, Hindalco and Mahindra & Mahindra will today announce their earnings for the March quarter
Here is a list of top 10 stocks that may be in focus on Friday:
SBI: The country’s largest bank said it will sell 2.1 crore shares, or 2.10% stake, in SBI Life Insurance through an offer for sale (OFS). The public-sector lender held 57.60% stake in SBI Life as on 31 March. SBI Life offer for sale will open on 12 June for non-retail investors and on 15 June for the retail ones.
Lupin: The pharmaceutical company received approval for its Albendazole tablets from the US Food and Drug Administration (US FDA) to market a generic equivalent of Albenza tablets, of Impax Laboratories. The drug is used to treat tapeworm diseases.
Wipro: The IT major has partnered with iCloudKnox Security to secure multi-cloud and hybrid cloud infrastructure. Wipro Ventures, the corporate investment subsidiary of Wipro, invested in CloudKnox through its recently announced $150 million fund to strengthen this strategic partnership.
Biocon: The drug maker said the US FDA has approved the New Drug Application (NDA) for insulin glargine injection, Semglee, in vial and pre-filled pen presentations, to control high blood sugar in adults with type-two diabetes and adult and pediatric patients with type-one diabetes. Semglee was co-developed by Mylan NV and Biocon Biologics India Ltd, a Biocon Ltd subsidiary.
Oil India: The state-owned company said the fire at the company’s gas well in Tinsukia district in Assam has been contained to itself. The spread of the fire to nearby villages has also been prevented.
Eicher Motors: The auto company will today announce its earnings for the March quarter. Separately, Mahindra & Mahindra Ltd, Hindalco Industries Ltd, Castrol India and Goodyear India Ltd will report their financial results for Q4FY20.
Sundram Fasteners: The auto component maker's standalone net profit declined a sharp 56.4% year-on-year (YoY) to ₹46.8 crore in the March quarter. Revenue from operations was down 28.3% YoY at ₹719.6 crore during January-March.
HDFC AMC: The board of the asset management company (AMC) has re-appointed Milind Barve as managing director from 1 November, 2020, to 31 January, 2021. The reappointment is subject to approval from members at the annual general meeting.
Allcargo Logistics: The logistics company has prepaid non-convertible debentures (NCDs) worth ₹160 crore on 11 June.
EID Parry: The company reported a marginal 0.56% YoY decline in its consolidated net profit to 157.2 crore for the March quarter. Revenue, however, was up 16.4% YoY at ₹4,245.1 crore in Q4.