Stocks to Watch: Vedanta, Yes Bank, SpiceJet, Coffee Day Enterprises, MTNL3 min read . Updated: 14 Nov 2019, 08:11 AM IST
- SpiceJet, after market hours on Wednesday, reported a consolidated net loss of ₹461.2 crore for the quarter-ended September
- MTNL will announce its earnings for the quarter-ended September today
Here is a list of top 10 stocks that may be in focus on Thursday:
Vedanta: The company on Wednesday said it emerged as the highest bidder for Jamkhani coal block in Odisha’s Sundargarh district in the government’s tenth tranche of coal block auction for captive use. The coal block is in proximity to the Anil-Agarwal led company’s Jharsuguda aluminium smelter that it will feed. The coal block will provide fuel security and improve power availability.
Yes Bank: The bank’s statutory auditor BSR & Co sought a fresh audit into whistleblower complaints against the bank and its former chief executive Rana Kapoor. This after a special audit done by JLN US & Co could not be concluded, according to a Mint report. The audit committee of the board had ordered a special audit into whistleblower complaints received in September 2018.
SpiceJet: The private airline, after market hours on Wednesday, reported a consolidated net loss of ₹461.2 crore for the quarter-ended September due to rise in total expenditure. The company had posted a loss of ₹382.7 crore a year ago. Total expenditure jumped 55% year-on-year to ₹3,537.5 crore in the September quarter compared with ₹2,286.7 crore a year ago.
Coffee Day Enterprises: The coffee chain operator on Tuesday released highlights of its earnings for the June quarter. According to an exchange filing, its net profit surged 8776% from a year ago to ₹1,509 crore in April-June. However, the firm said there will be a delay in submission of financial results for Q1 and Q2 of the current fiscal as the books of accounts and the statements made by late VG Siddhartha in his letter that led to his suicide are under scrutiny.
Tata Motors: The auto major on Wednesday inaugurated a new faculty for adjacent power systems at its Engineering Research Centre in Pune. The new unit will play a key role in engineering, testing and development of powertrain solutions to prepare for several new technology requirements such as BS-VI emission norms and real driving emissions.
Vodafone Idea: The company will announce its September quarter earnings today. Separately, Vodafone Group PLC chief executive Nick Read told Prime Minister Narendra Modi on Wednesday that the company is confident of its India growth story and the country remains a key market for the telecom operator. This after Read was quoted by some news reports as saying that he is doubtful of the India operations.
Cadila: The pharmaceutical company acquired remaining 15% stake each in its subsidiaries Zydus Technologies Ltd and Zydus Noveltech Inc for a combined $250,000 from strategic and monitory partner Sharad Govil. Following the acquisition of the stake, the two companies will become wholly-owned subsidiaries of Cadila Healthcare Ltd.
MTNL: The state-owned company will announce its earnings for the quarter-ended September today. The government recently announced the merger of the telecom operator with state-run BSNL Ltd, until which it will function as a subsidiary of the latter. The government also cleared a revival package for the cash-strapped company. Markets have cheered the merger plan.
DHFL: The Bombay High Court on Wednesday modified its earlier order and allowed the company to pay banks, non-banking financial companies (NBFCs) and other housing finance companies (HFCs) that bought out loans under securitisation agreements. Lenders have outstanding securitised portfolios of ₹37, 633 crore from the stressed mortgage lender and were unable to get their repayments following a court order on 10 October.
BHEL: The state-owned company on Wednesday reported a 36% year-on-year decline in its net profit to ₹119 crore for July-September. Lower revenue from operations and high expenses caused the fall. The company had posted a profit of ₹185 crore in the same period last year. Revenue for the September quarter was down 8% from a year ago at ₹6,226 crore.