Stocks to Watch: SBI, M&M, IndusInd Bank, Sun Pharma, Muthoot Finance2 min read . Updated: 30 Mar 2020, 10:20 AM IST
- Mahindra & Mahindra has suspended operations at all manufacturing units across India due to the coronavirus outbreak
- Ratings agency Crisil has reaffirmed CRISIL A1+ rating to IndusInd Bank's certificates of deposits worth ₹40,000 crore
Here is a list of top ten stocks that may be in focus on Monday:
SBI: India’s largest lender on Friday lowered its interest rates linked to external benchmarks by 75 basis points (bps) and cut its deposit rates between 20-100 bps on the lines of the Reserve Bank of India’s (RBI) decision to mitigate the economic impact in the wake of the coronavirus outbreak.
IndusInd Bank: The bank on Saturday said ratings agency Crisil has reaffirmed CRISIL A1+ rating to its certificates of deposits (CDs) worth ₹40,000 crore. Basel III-compliant tier-1 bonds have been reaffirmed the rating of CRISIL AA with a stable outlook.
Sun Pharma: The pharmaceutical major on Sunday said the US Food and Drug Administration (US FDA) has issued an official action indicated (OAI) for its Halol facility in Gujarat, which was inspected during 3-13 December and was issued eight observations.
M&M: The auto major on Sunday said it has suspended operations at all manufacturing units across India to comply with the central government’s order of a lockdown to prevent the spread of coronavirus. “The business of the company has been affected over the last few weeks and will continue to be impacted due to the current crisis."
Muthoot Finance: The non-bank on Saturday said Fitch Ratings has revised its long-term issuer default rating from BB+ with a stable outlook to BB and placed it under watch negative.
Motherson Sumi: Ratings agency Moody’s Investors Service has assigned Ba1 corporate family rating (CFR) to the company and has revised the outlook to rating under review from negative, the auto component maker said on Saturday.
NTPC: The state-owned power company on Saturday said its installed and commercial capacity has increased to 62,110 MW and 61,126, respectively, with the acquisition of THDC India Ltd (THDCIL) and North Eastern Electric Power Corp. Ltd (Neepco).
Aviation firms: InterGlobe Aviation, which owns and operates IndiGo, and SpiecJet have received a go ahead from the aviation ministry to use passenger aircraft for cargo movement. The government has banned passenger flights on all domestic and international routes to contain the spread of coronavirus.
Reliance Naval: The bankrupt company said Rajeev Bal Sawangikar has been appointed as its interim resolution professional. The firm was admitted to the Ahmedabad bench of the National Company Law Tribunal (NCLT) on 15 January for insolvency proceedings.
Future Consumer: The company on Sunday said its independent director Neha Bagaria has resigned with effect from 28 March citing increase in other professional commitments and lack of time to participate as a board member of Future Consumer Ltd.