Stocks in news: Future Retail, DHFL, Siemens, AstraZeneca Pharma, Ashok Leyland, Laurus Labs
BusinessToday.In November 26, 2020
Stocks to watch today: Here is a list of top stocks that are likely to be in focus in Thursday's trading session based on latest developments.
Future Retail (FRL): Company's plea to be excluded from being a party to the Amazon-Future Coupons' arbitration proceedings has been turned down and the Court of Singapore International Arbitration Centre (SIAC) has ordered that the arbitration shall proceed, according to sources.
Banks: Banking operations across the country may be hit on Thursday as some bank unions will join the one-day nationwide strike called by central trade unions.
Aviation stocks: International Air Transport Association (IATA) said on Wednesday that a net loss of USD 118.5 billion is expected for 2020 which is deeper than the USD 84.3 billion forecast in June and a net loss of USD 38.7 billion is expected in 2021 which is deeper than the USD 15.8 billion forecast in June.
DHFL: Company reported a net loss of Rs 2,122.7 crore in Q4FY20 compared to a loss of Rs 6,640.2 crore (YoY) over the corresponding quarter of the previous year. Revenue was up 4.7% at Rs 2,204.8 crore for September quarter as against Rs 2,106.7 crore (YoY).
Siemens: The tech major on Wednesday reported 4.7% fall in net profit at Rs 330.2 crore in Q4FY20 compared to Rs 333.9 crore over the corresponding quarter of the previous year. Revenue from continuing operations fell to Rs 3,546.8 crore for September quarter from Rs 3,894.4 crore YoY. Company board recommended a dividend of Rs 7 per share of Rs 2 each for the financial year ended September 2020.
AstraZeneca Pharma: AstraZeneca and Oxford University on November 25 acknowledged a manufacturing error about preliminary results of their experimental COVID-19 vaccine. A statement that the vaccine appeared to be 70 percent effective, came days after the company and the university described the shots appeared to be 90 percent effective.
Ashok Leyland: Company has closed the Chennai plant as a precautionary measure in view of Cyclone Nivar. The company expects to resume operations at the facility from November 27.
Cochin Shipyard: Company is building two autonomous electric vessels with zero carbon emission for a Norwegian company.
HDFC Bank: Had crossed Rs 8 lakh crore in market capitalisation intraday on Wednesday, the third company and the first lender to reach the milestone. In another update, ICCI (Inventivepreneur Chamber of Commerce and Industries has signed an MoU with HDFC Bank. HDFC Bank will offer key business support functions like shared workspaces, digital marketing, web services, patent filing, content writing, tax, and legal advisory to ICCI recommended businesses.
L&T: Company has bagged a Rs 3,000 crore contract to build India's longest road bridge across river Brahmaputra connecting Dhubri in Assam to Phulbari in Meghalaya.
JSW Steel: The company has moved to the Bombay High Court challenging the applicability of the Goa state government's order to pay a cess of Rs 156. 34 crore for transport of coal.
Union Bank of India: The lender will obtain shareholders' approval for raising of equity capital up to Rs 6,800 crore by way of various modes, on December 30, 2020.
Lakshmi Vilas Bank: National Stock Exchange said in a statement that trading in shares of lender will be suspended from 26 November. Further, the Reserve Bank of India had said the amalgamation of the cash-strapped lender with DBS India will come into force from 27 November and the moratorium imposed on the lender will be removed on the same day.
Laurus Labs: The pharma major has acquired 72.55% stake in a biotech company Richcore Lifesciences for cash consideration of Rs 246.67 crore.