Stocks to watch today: Here is a list of top stocks that are likely to be in focus in Wednesday's trading session based on latest developments.
Key highlights on share market; check the latest stock market news
- On Tuesday, Sensex closed 1,020 points lower at 30,627 and NSE Nifty fell 340 points to 8,920.
- Indian rupee, the local benchmark currency closed at all-time low of 76.83 per dollar on Tuesday
- The number of reported in India rose to 18,985 cases including 603 deaths and 3,259 recoveries
-On a net basis, FIIs sold off Rs 2,095.2 cr and DIIs too offloaded Rs 68.5 cr in equities on Tuesday
ACC Q4: Company's net profit fell 6.6% to Rs 323 cr in the quarter ended March 2020 as against Rs 345.99 crore during the previous quarter ended March 2019. Company's sales fell 10.82% to Rs 3433.02 crore in Q4FY20 as against Rs 3849.63 in Q4 FY19.
Tata Motors: As per Gujarat government, the auto major can resume production at it's Sanand Plant.
Federal Bank: Bank informed the exchanges that its board has approved, in principle to purchase additional stake of up to 4% in the equity capital of IDBI Federal Life Insurance Co Ltd (IFLIC) from IDBI Bank. As per the filing, the lender currently holds a 26% stake in IFLIC, making it an associate of the bank and post purchase, the total stake may increase up to 30%.
HDFC AMC: SEBI has fined the company Rs 4.20 cr and issued the settlement order dated April 16, 2020 through which the enforcement proceedings initiated have been settled. Exchanges had earlier asked the company about receipt of show cause notices from SEBI pertaining to the investments of fixed maturity plans of HDFC Mutual Fund in debt instruments of Essel Group Companies.
Jyothy Labs: The company has announced the launch of its hand sanitizer under the brand name Margo.
HDFC : The company announced that it has reduced its retail prime lending rate by 15 basis points from April 22, 2020. The change will benefit all existing HDFC retail home loan customers, the filing added.
TamilNadu Petroproducts: The company informed the exchanges that the operations of Propylene Oxide Plant has restarted on 20 April 2020.Reliance Industries: Facebook has announced that it has made a $5.7 billion (Rs 43,574 crore) investment in Reliance Industries Ltd's telecom unit on Wednesday, making it the largest minority shareholder in Jio Platforms Limited.