Source: Livemint | Title: Stocks to Watch: Reliance, Titan, L&T Finance, Indusind Bank, Dr Reddy\’s
NEW DELHI: Here are the top 10 stocks that could be in news today:
Reliance Industries: The Mukesh Ambani-led company will declare its March quarter earnings on Friday. The company had posted a consolidated net profit of ₹14894 crore, up 25.8% for the fiscal third-quarter ended December.
Titan: The company’s net profit rose by 49% YoY to ₹529 crore. Revenue for the quarter came at ₹7,135 crore, up 61%. The board has recommended a dividend of ₹4 per equity Share of Re. 1 each of the company.
L&T Finance: The shadow lender reported a fall of 30.89% in consolidated net profit at ₹267 crore for the quarter ending 31 March. The NBFC’s total income during the quarter advanced to ₹3,587.18 crore from ₹3427.22 crore in the year-ago quarter. The rural finance book grew by 9% year-on-year.
Indusind Bank: The private sector lender will report its March quarter earnings today. The bank had reported a 34% fall in its standalone net profit to ₹852.76 crore for the quarter ended December on higher provisions.
Dr Reddy’s Laboratories: The Hyderabad-based drug major has launched generic Albendazole tablets, used in the treatment of a variety of parasitic worm infestations, in the US market. The product is a generic version of GlaxoSmithKline’s Albenza tablets (200 mg).
Ujjivan Financial Services: Minority shareholders have rejected a special resolution to appoint founder and chairman Samit Ghosh as MD & CEO of the company with only 70.5% votes received in favour. The special resolution needed 75% votes to be passed. Shareholders also rejected reappointment of Abhijit Sen as an independent director for five years.
Manappuram Finance: The second largest gold loan company in the country, is toying with the idea of hiving off and taking its microfinance arm Asirwad Microfinance public within a year, a top company official told PTI.
Wipro: The IT company has strengthened its alliance with Citrix Systems, Incand Hewlett Packard Enterprise (HPE). The partnership will provide enterprises a robust solution that will accelerate remote working and bring modernization into workspaces.
Union Bank of India: The Board at its meeting on 29 April considered and approved the extension of validity of the bank’s existing capital raising plan FY2020-21 till 31 July or new capital raising plan, whichever is earlier.
Persistent Systems: The company has reported a profit of ₹137.7 crore in Q4 against ₹120.9 crore in Q3. Revenue rose to ₹1,113.3 crore from ₹1,075.4 crore QoQ.