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Stocks in focus: ITI Ltd, Biocon Ltd, HDFC Bank, Sagar Cements, Coffee Day, Avenue Supermarts and others

Stocks in the news: ITI Ltd, Biocon Ltd, HDFC Bank, Sagar Cements, Coffee Day, Avenue Supermarts among others are the top stocks to watch out for Tuesday's trading session

twitter-logoBusinessToday.In | January 7, 2020 | Updated 09:16 IST
Stocks in focus: ITI Ltd, Biocon Ltd, HDFC Bank, Sagar Cements, Coffee Day, Avenue Supermarts and others
G M Breweries ltd is scheduled to post its quarterly result for the December quarter today, data available with the exchanges showed.

Stocks in the news: Here is a list of top stocks that are likely to be in focus on Tuesday's trading session based on recent and latest news developments.

G M Breweries ltd: The company is scheduled to post its quarterly result for the December quarter today, data available with the exchanges showed.

ITI Ltd: Company reported Q3 consolidated profit after tax at Rs 168.25 crores, almost 1138.95% higher than 13.58 crore recorded in the Q3 FY18-19. Company's total income for Q3 FY19-20 stood at Rs 978.82 crore, 53.95% higher than Rs 635.80 crore, recorded in the same period a year ago. The company has reported EPS of Rs 1.79 for the period ended December 31, 2019, as compared to Rs 0.21 for the period ended December 31, 2018.

Biocon Ltd: Company announced that the board of its subsidiary Biocon Biologics has approved a primary equity investment by True North. True North will be investing Rs 536.25 crore, representing 2.44% minority stake in the biosimilars business post all restructuring, including the filed merger of Biocon Research Ltd with Biocon Biologics, valuing Biocon Biologics at Rs 21,450 crore or USD 3 billion on a pre-money equity basis. Post the completion of this transaction, Biocon will hold 96.07% stake in Biocon Biologics.

HDFC Bank: Bank said during the quarter ended December 31, 2019, it purchased loans aggregating Rs 4,258 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation Limited (HDFC). On a yearly basis, HDFC's advances and deposits grew 20% and 25% on a yearly basis, while its CASA ratio stood at around 39.5% as of December 31, 2019.

Sagar Cements: The company provided production and despatch details of the company. On a consolidated basis, production/purhcase of cement fell 7.56% to 300,138 on a yearly basis. Company's cement sales declined 4.33% to 312,132 MT yearly.

Mishra Dhatu Nigam Limited (Midhani): Midhani, the only manufacturer of titanium alloys and major supplier of super alloys in India, had dispatched its first consignment of ultra-high strength steel for ignitor box and cobalt alloy for throat sitting rings for indigenous manned mission of Indian Space Research Organisation (ISRP) 'Gaganyaan' which will carry 'Vyomanauts' to space.

Coffee Day Enterprises: Company's filing showed invocation of pledged equity shares by STCI Finance Ltd, representing 8.35% of the total share capial, in connection to the borrowings availed by CCD Enterprises. The promoter stake post the transaction has come down to 12.56% stake in the company from the earlier 17.64% stake.

PI Industries Limited: The company intimated the exchange bourses that a factory accident that happened today in one section of a Multi-Product Plants (MPP) at the company's Jambusar fine chemicals manufacturing site in Gujarat. This accident unfortunately resulted in two fatalities and nine others are injured. The accident did not result in any fire or hazardous emissions but was limited to one MPP and has not affected operations of the other MPPs at the site, the filing added.

Avenue Supermarts Limited: The company said it has allotted listed commercial papers worth Rs 100 crore. The company board has issued said commercial paper within the overall limit of Rs 900 crore.

Karur Vysya Bank Limited: Company said that its board has accepted the resignation of R Seshadri, Managing Director & CEO on 4th January 2020. He will be relieved from the services of the Bank at the close of working hours on 3lst March 2020, as per his request.

Karur Vysya Bank Limited: The lender said it has revised Marginal Cost of Funds Based Lending Rates (MCLR) of the bank, which will be effective from 07 January 2020.

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