Stocks in the News (10 Aug):
Reliance Industries – Saudi Aramco Chief Executive Amin Nasser, as per reports, has said the company is ‘still working on the deal to invest in the company.
Cipla reported 20% growth in profit before tax (PBT) for the Q1 2021 to Rs 799 crore, on a 9% YoY growth in revenues to Rs 4,346 crore.
IndusInd Bank, Eveready Industries – : IndusInd Bank has acquired 56,83,320 shares which is 7.82% stake in battery maker Eveready Industries by invoking pledged shares following loan default.
REC reported Profit at Rs 1,845.3 crore in Q1 2021 vs. Rs 1,509 crore in Q1 2020, revenue at Rs 8,446.7 crore vs. Rs 6,815.3 crore YoY.
DCB Bank – Q1 2021 net profit declined 2.07% to Rs 79.38 against Rs 81.06 crore during the same quarter of the previous year.
Magma FinCorp reported increase in Net profit of 254.42% to Rs 37.71 crore in theQ1 2021 as against Rs 10.64 crore during the same quarter of previous year.
JSW Steel – Promoter Danta Enterprises released 3 lakh pledged shares.
JSW Energy -Promoter Danta Enterprises released 30 lakh pledged shares.
Container Corporation of India reported Profit at Rs 58.26 crore in Q1 2021 vs Rs 242.51 crore in Q1 2020, revenue at Rs 1,194.20 crore vs Rs 1,654.8 crore YoY.
Defence related stocks – Investors will keep eye on defence equipment manufacturers shares today as the Ministry of Defence (MoD) announced on Sunday a phased, year-wise embargo on the import of 101 items of defence equipment. As an equipment type comes under the import embargo, the military will be required to buy it from Indian defence manufacturers.
Telecom, bank stocks – Today Supreme Court of India (SC) is expected to give its final verdict in the adjusted gross revenue (AGR) case which will decide whether the telecom companies — Bharti Airtel and Vodafone Idea – will be allowed a relaxed payment structure for clearing the dues they owe to the Central government.