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Stocks to Watch: SBI, Reliance Industries, Mahindra & Mahindra, Airtel, banks

On Thursday, the Sensex rose 358.54 points or 0.71% to close at 50614.29, while the Nifty advanced 105.70 points or 0.71% to end at 14895.70.Premium
On Thursday, the Sensex rose 358.54 points or 0.71% to close at 50614.29, while the Nifty advanced 105.70 points or 0.71% to end at 14895.70.

  • Britannia Industries, Mahindra & Mahindra, Punjab National Bank, Mrs Bectors Food Specialities, Cadila Healthcare, Pfizer, RCF, Shipping Corporation are among the 127 companies scheduled to release their quarterly earnings today

NEW DELHI: Here is the list of top 10 stocks that could be in focus on Friday.

State Bank of India: Reported a 6.9% year-on-year decline in its December quarter net profit to Rs5,1996 crore, as it made higher provisions for bad loans. Profit, however, topped the 4,850.5 crore average estimate of 15 analysts polled by Bloomberg. The lender lowered the guidance for FY21 credit growth to 7% from 8-9% announced it November.

Reliance Industries: Has agreed to sell its entire stake in certain upstream assets in the Marcellus shale gas asset in south-western Pennsylvania in the US for $250 million amid a weakness in the global hydrocarbon market. The assets, controlled by RIL’s wholly-owned unit Reliance Marcellus LLC and operated by affiliates of EQT Corporation, will be sold to Northern Oil and Gas Inc.

M&M: Will likely report double-digit growth in revenue and net profit for the December quarter, on the back of a robust increase in demand for its tractors and gradual recovery in passenger and commercial vehicle segment. A rise in input cost though could impact operating margins on a sequential basis.

Bharti Airtel: Will raise up to 7,500 crore through debt instruments such as debentures and bonds in one or more tranches. The fundraising has been announced as the telecom companies prepare for the upcoming spectrum auction in March and the proposed rollout of 5G wireless service later this year.

HCL Technologies: Has signed a five-year digital workplace services agreement with Airbus. Financial details of the deal were not disclosed. As part of this, HCL will create a modernized digital workplace to enhance the user experience and service quality for a majority of Airbus employees globally.

HPCL: State-run Hindustan Petroleum Corp. Ltd reported an over three-fold rise in net profit to 2,355 crore for the December quarter against a net profit of 747 crore in the year-ago period. Revenue from operations, however, declined 2% year-on-year from 70,042.2 crore, but beat estimates.

Private Banks: The 10 largest private sector banks in India have bad loans worth over 42,000 crore that are yet to be classified due to a court-ordered asset quality standstill, as per data compiled by Mint. While lenders have set aside ample provisions under the Reserve Bank of India’s guidelines, the loans, once classified, will add to the existing burden of NPAs on their books.

FMCG stocks: As consumers in India’s top cities spend more time shopping for groceries online, fast-moving consumer goods (FMCG) makers are accelerating the launch of digital-first brands and rolling out more online specific stock keeping units. From organic honey and male grooming kits, to beverages and snacks, companies such as Marico Ltd, Dabur India Ltd and Hector Beverages are eyeing new launches.

Biocon: The company has signed an agreement with Clinton Health Access Initiative (CHAI) to expand access to lifesaving cancer biosimilars in over 30 countries in Africa and Asia.

Vedanta: The company's board has approved expansion of the Lanjigarh alumina refinery from 2 MTPA to 5 MTPA at a cost of 3,779 crore.

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