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Stocks in news: Schneider, HPCL, HDFC AMC, SBI, Wipro, HCL Technologies, Bank of Maharashtra and more

BusinessToday.In     June 17, 2020

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. Meanwhile, Pidilite Industries, Natco Pharma, Muthoot Finance, Indraprastha Gas, HEG, Cummins, Gulf Oil Lubricants India, Fortis Healthcare, JK Cement among others will be reporting their quarterly results today.

Key highlights on share market; check the latest stock market news

-On Tuesday, Sensex ended 376 points higher to 33,605 and Nifty climbed 100 points to 9,914.

-Rupee ended weaker at 76.21 per US dollar on tuesday, as compared to the earlier closing of 76.03 per US currency.

-Indian Army said 17 more Indian troops have succumbed to their injuries, taking the number to 20 at the Galwan area.

-India moves out of 25 nation Kearne's FDI Confidence Index 25-country list for 2020.

-On a net basis, FIIs sold Rs 1,478.52 crore, while DIIs bought Rs 1,161.51 crore worth in equities on Tuesday

Share Market LIVE: Sensex drops 140 points, Nifty at 9,873; Pidilite, Cummins, JK Cement results today

SBI: Company said it will seek shareholders approval in mid-July to raise up to Rs 20,000 crore equity capital through various means in the current fiscal

HDFC Asset Management Company (AMC): Company promoters Standard Life Investments is looking to offload upto 2.82% stake in the company through offer for sale (OFS)

Wipro: Wipro Gallagher Solutions partnered with DocMagic, Inc to enhance digital mortgage processes.

NMDC: The company reported a 78% drop in its net profit at Rs 315 crore during the quarter ended March 31, 2020, as against profit of Rs 1,448 crore, recorded in a year-ago period. Company's total income fell 12.5% (YoY) to Rs 3,187 crore in the January-March quarter of the current fiscal as compared to Rs 3,643 crore in a year-ago period.

IPCA Labs: The company reported 13% drop in its net profit at Rs 83 crore during the quarter ended March 31, 2020, as against profit of Rs 96.2 crore, recorded in a year-ago period. Company's total income rose 22% (YoY) to Rs 1,074 crore in the January-March quarter of the current fiscal as compared to Rs 879 crore in a year-ago period.

Airtel, Vodafone: Telecom stocks will be watched closely by investors ahead of AGR hearing at SC today.

Kotak Mahindra Bank: The lender has cut base rate, prime lending rate by 30 bps each

Maruti Suzuki India: The company has collaborated with IndusInd Bank to arrange attractive finance schemes to help customers buy their favourite car and to support progressive restart of business activities in the automobile industry.

Bank of Maharashtra: Company's net profit stood at Rs 389 crore in FY20 as against loss of Rs 4784 crore in FY19. Company net profit for Q4FY20 stood at Rs 58 crore. Company's net NPA fell 4.77% as of March 31, 2020 as against 5.52% as during the same period last year.

PNB Gilts: Company said ICRA Limited has assigned the credit rating of A1+ to Rs.1000 crore commercial paper programme of the company.

HCL Technologies: The company has commenced operations in Srilanka. HCL plans to create over 1,500 new local employment opportunities for both freshers and experienced professionals, within the first eighteen months of kick-starting its operations from its office in Colombo.

Chemcrux Enterprises: Company's net profit rose 22% to Rs 5.91 crore in FY20 as against profit of Rs 4.92 crore in FY19.  Company's total income fell 1.22% (YoY) to Rs 30.06 crore in the January-March quarter of the current fiscal as compared to Rs 30.43 crore in a year-ago period.

Cadila: Company said its subsidiary Zydus Cadila has received final approval from the USFDA to market Deferasirox Tablets in the strengths of 90 mg, 180 mg and 360 mg.

Globus Spirits: Company's net profit rose to Rs 19.40 crore in FY20 as against profit of Rs 5.19 crore in FY19.  Company's total income fell 2.18% (YoY) to Rs 298 crore in the January-March quarter of the current fiscal as compared to Rs 291 crore in a year-ago period.

Navin Fluorine: The company reported net profit at Rs 270 crore during the quarter ended March 31, 2020, as against profit of Rs 33 crore, recorded in a year-ago period. Company's total income rose 6.98% (YoY) to Rs 282 crore in the January-March quarter of the current fiscal as compared to Rs 263 crore in a year-ago period.

HPCL: The company reported net loss at Rs 27.63 crore during the quarter ended March 31, 2020, as against profit of Rs 3,340 crore, recorded in a year-ago period. Company's total income fell 2.23% (YoY) to Rs 72,059 crore in the January-March quarter of the current fiscal as compared to Rs 73,705 crore in a year-ago period.

Ratnamani Metals & Tubes: The company reported 6.5% rise in its net profit at Rs 67.34 crore during the quarter ended March 31, 2020, as against profit of Rs 63.19 crore, recorded in a year-ago period. Company's total income fell 6.6% (YoY) to Rs 643 crore in the January-March quarter of the current fiscal as compared to Rs 689 crore in a year-ago period.

Schneider: The company reported net loss at Rs 25.74 crore during the quarter ended March 31, 2020, as against profit of Rs 1.45 crore, recorded in a year-ago period. Company's total income fell 23% (YoY) to Rs 231 crore in the January-March quarter of the current fiscal as compared to Rs 303 crore in a year-ago period.

Earnings today: Pidilite Industries, Natco Pharma, Muthoot Finance, Indraprastha Gas, HEG, Cummins, Gulf Oil Lubricants India, Fortis Healthcare, JK Cement, Indostar Capital Finance, Emkay Global, Clariant Chemicals , Welspun Corp, Sicagen, Rico Auto, REC, Rane Brake Lining among others will announce their Q4 results today


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