Stocks to Watch: ABFRL, Britannia, Cipla, Divi's Labs, PNB Housing Finance
Premium- PNB Housing Finance’s board approved raising ₹4,000 crore in capital from the Carlyle Group and a handful of other investors through a preferential share issue.
NEW DELHI: Here are top ten stocks that could be in the news today.
Aditya Birla Fashion and Retail Ltd: The company's standalone March quarter revenues declined a modest 2% year-on-year (y-o-y) to ₹1,783 crore. The company saw strong y-o-y recovery in the months of January and February. Towards the end of the March quarter though localised shutdowns due to the second wave of the coronavirus pandemic led to lower consumer footfalls, pausing the growth momentum.
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Adani Enterprises: Packaged consumer goods company Adani Wilmar that sells a range of staples such as edible oil, wheat flour, pulses, sugar and other packaged foods has launched its own mobile application—Fortune Online, the company said. The move can help the maker of Fortune cooking oil build its own direct-to-consumer business.
Banking stocks: The functioning of asset reconstruction companies (ARCs) in India should be transparent and subject to scrutiny including by parliamentary panels, the All-India Bank Employees’ Association (AIBEA) wrote to the Reserve Bank of India (RBI). “Selling bad loans to ARCs should be the last resort and recovery should be the foremost task," the union said in its letter on 30 May.
Britannia Industries: The company’s board will meet on 3 June to consider and approve the allotment of unsecured, non-convertible, redeemable, fully paid up debentures having a face value of ₹29 each and payment of dividend of ₹12.50 for one fully paid up equity share of face value of ₹1 each, the company said in a regulatory filing.
Cipla: The pharma company said it is "in the process of seeking clarity and guidance from the Government of India for exploring the possible roadmap for vaccine importation to India.
Divi's Laboratories: The company announced 29.3% y-o-y rise in its consolidated net profit to ₹502.02 crore for the quarter ended March. Net sales grew 28.7% y-o-y to ₹1,788.19 crore in Q4 FY21. The company reported a forex gain of ₹3 crore during the quarter under review.
Dr Reddy’s Laboratories: The Hyderabad-based pharmaceutical company is in talks with the government to bring Russia's single-dose Sputnik Light covid-19 vaccine into the country, a company spokesperson told Reuters. Russia has already approved this single-dose vaccine and trials are ongoing in many countries.
M&M: Tractor and automobile manufacturer Mahindra and Mahindra (M&M) is likely to witness sharp recovery in volumes in the second quarter of this financial year, as quicker recovery is expected in the rural markets compared with urban markets, and there is a likelihood of steady growth in tractor sales due to a good summer crop.
PNB Housing Finance: The company’s board approved raising ₹4,000 crore in capital from the Carlyle Group and a handful of other investors through a preferential share issue.
SpiceJet: With revenues taking a hit due to falling air traffic amid the second wave of covid-19 infections, no-frills airline SpiceJet Ltd has reverted to a salary structure based on the hours worked. It has also deferred salaries for May for a large section of its workforce.
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