Stocks in the news today: Here is a list of top stocks that are likely to be in focus in Wednesday's trading session based on latest developments. Investors will also be taking cues from the latest released March quarter earnings.
Key highlights on share market; check the latest stock market news
- Sensex and Nifty have risen 4.82% and 4.45% in one week, 7.71% and 8.32% in one month. Since the beginning of this year, both bourses have fallen over 22% each.
- On Tuesday, Sensex ended 371 points or 1.17% higher at 32,114 and Nifty rose 98 points or 1.06% to 9,380.
- Indian rupee, the local currency rose from early losses and settled at the day's high of 76.19 per dollar on Tuesday.
- The total number of cases in India has reached 29,974, including 7,026 recoveries and 937 deaths, after 1,594 cases were reported in the last 24 hours.
Axis Bank Q4: Banks' operating profit for the quarter was Rs 5,851 crores, up 17% YOY from Rs 5,014 crore in Q4FY19. Net loss for Q4FY20 stood at Rs 1,388 crore. Bank's Net Interest Income (NII) grew 19% YOY to Rs 6,808 crore during Q4FY20 from Rs 5,706 crore in Q4FY19. Company board has also authorised the Bank to raise funds by issue of debt Instruments up to an amount of Rs 35,000 crore.
ATUL Q4: The company reported 26 % rise (YoY) in consolidated net profit to Rs 141 crore during the quarter ended March 31, 2020 as against Rs 115 crore, recorded in a year-ago period. Total income fell 5.77%(YoY) to Rs 1,001 crore in the January- March quarter of the current fiscal as compared to Rs 1,062 crore in the same period last financial year.
JK Paper: Company board has board approved buyback upto Rs. 130 crore through open market purchase.
NLC India Limited (NLCIL): The company announced that for the first time, it commenced production of Coal on April 26, 2020. The coal produced from Talabira II and III mines in the state of Odisha, which was allotted to NLCIL in 2016 with a capacity of 20 million tonnes per annum will be used to meet its requirement of its existing and future coal-fired power plants, the filing added.
Thomas Cook India: Company informed the exchanges that it has reopened 6 branches
PNB Housing Finance: The Company has announced that Sanjaya has stepped down from his role as Managing Director and CEO of the company and Neeraj Vyas has been appointed for the role of interim MD and CEO until a successor is announced.
L&T: Company board has issued and allotted 25,000 7.70% Rated listed unsecured redeemable non-convertible debentures of Rs 10 lakh each aggregating to Rs 2,500 crore which will mature on April 28, 2025. The said Debentures are proposed to be listed on the National Stock Exchange of India, the filing added.
Biocon: The company and Mylan N.V. has launched Fulphila, Biosimilar Pegfilgrastim, in Canada
Hindustan Zinc: Company board plans to announce Q4, FY20 results, dividend on May 21, 2020
Varun Beverages: Company board plans to approve quarterly results on May 5, 2020
JM Financial: Company board plans to consider dividend, Q4, FY20 results on May 6, 2020.
Kansai Nerolac Paints: Company board plans to announce Q4, FY20 results, dividend on May 6, 2020.
Hexaware Technologies: The company will be reporting its March quarterly results today.