Stocks to Watch: IDBI Bank, Lupin, Tata motors, SBI, Snowman Logistics
Premium- Punjab National Bank, Bharat Forge, Bank of India, NIIT and Jammu Kashmir Bank key companies which will announce their March quarter results today
NEW DELHI: Here are top ten stocks that could be in the news today.
IDBI Bank: The lender has secured a $239 million judgment in the commercial division of the High Court of London against a Cypriot subsidiary of India-based Essar Shipping Group, among one of the largest debt judgments obtained by an Indian bank in the English courts.
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Lupin: The company’s board of directors has approved the company’s entry into the digital healthcare space with a focus to provide a digital therapeutics platform for doctors and patients in India. The company recently incorporated a new entity in the name of Lupin Digital Health Ltd, as a wholly owned subsidiary, which will undertake this.
NRB Bearings: The company’s net prfit riose 488.15% in the March quarter to ₹29.29 crore, from ₹4.98 crore in the previous quarter. The companies Ebitda stood at ₹44.37 crore in March compared to ₹19 crore in the previous quarter. Ebitda stands for earnings before interest, tax, depreciation and amortization.
Tata Motors: The country’s largest automaker by revenue raised a sum of $425 million through the issuance of fixed rate unsecured bonds to refinance some of the existing debt of its units, especially Jaguar Land Rover, and meet expenses. The company borrowed the sum at a coupon rate of 4.35% and the bond issuance got a ‘B’ rating from credit ratings agency, Standard and Poor’s Ratings Service.
Orchid Pharma: A shortage of shares has helped drive a surge of almost 7,700% in Orchid Pharma Ltd. over the past seven months. And now it looks poised to end. New owners have to divest part of their stake of about 98% in the firm, which re-listed in Mumbai in early November after emerging from bankruptcy. That’s to comply with an Indian regulation that requires the new owners—in this case Dhanuka Laboratories Ltd—to boost the minimum public float to 10% over the next few months.
Panacea Biotech: The company reported a net loss of ₹168.27 crore in March 2021, up 34.23% from ₹125.36 crore a year ago. The company reported a net loss of ₹54.14 crore in March compared to ₹69.70 in the previous quarter.
Reliance Industries Ltd: The company’s stock surged around 15% in the seven trading sessions amid optimism about its future performance. The company's market valuation crossed the ₹14 lakh crore mark in early trade.
Snowman Logistics: The company has entered in a strategic partnership with Hyderabad based Dr Reddy's to provide temperature-controlled end-to-end logistics solutions for the delivery of the two-dose Sputnik Covid-19 vaccine across India, it said in a regulatory filing.
State Bank of India: The lender reported standalone net profit of ₹20,410 crore in the March quarter compared to ₹14,488 crore a year ago. The state-owned lender's net interest income stood at ₹1,10,710 crore, up 12.87% from a year ago, SBI said in a regulatory filing.
Wipro Ltd: The IT company touched ₹3 trillion in market capitalisation for the first time, and became the third Indian IT firm to achieve this milestone. The stock hit a record high of ₹550 in early trade and its market capitalisation stood at ₹3.01 trillion. India's benchmark equity index Sensex rose 0.6% to 52,169 points.
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