Updated : 2019-10-25 08:08:02
The Indian market is expected to open flat on Friday tracking modest gains in the global markets as positive earnings offset economic growth concerns. However, concerns over the impact of SC’s order on AGR may tilt the market to the negative zone. The SGX Nifty was trading 14.50 points or 0.12 percent higher at 11,601 at 7:04 AM, indicating a flat start for the Sensex and the Nifty. Here are the top stocks to watch out for:
IndiGo: Interglobe Aviation posted a net loss of Rs 1,062 crore for the September quarter. This was a weaker July-September quarter as the airline registered a net loss of Rs 652 crore in the same period a year ago. | Reuters
ITC: The consolidated net profit surged 37 percent YoY to Rs 4,173.72 crore as compared to Rs 3,045.07 crore in the corresponding quarter last year. The consolidated revenue from operations in the second quarter rose 5.6 percent year-on-year (YoY) to Rs 12,867.39 crore as against Rs 12,184.28 crore in the same quarter last year.
Infosys: The company announced a stock incentive option to its mid-level 6,949 eligible employees in the form of restricted stock units (RSU). “This is to inform that 2,298,020 stock incentives in the form of restricted stock units were granted to 6,949 mid-level eligible employees of the company /subsidiary companies under the 2015 Stock Incentive Compensation Plan,” the company said.
JSW Steel: The sales volumes are down 6 percent and so the management has scaled back its FY20 guidance. The company trimmed volumes guidance by 3 percent on annualised basis implying a new sales target of 15.5 million tonnes in FY20 vs 16 million tonnes previously. | Reuters
Vodafone Idea: The company said SC’s verdict on AGR has significantly damaging implications for India’s telecom industry. “A significant investment of several billion dollars has been made in creating world-class networks. Today’s order has a huge impact on two private operators while most of the other impacted operators have exited the sector,” it said.
Oriental Hotels: In line with ‘Aspiration 2022’, the company achieved 3 percent growth in EBITDA margin and 11 percent growth in EBITDA, said MD Pramod Ranjan.
Kaya Ltd: The company posted a consolidated revenue from operations of Rs 101.4 crore for the quarter ended September 30, a decline of 6 percent over corresponding quarter last year.
Bandhan Bank: Bandhan Bank’s asset quality is currently the best, with the net non-performing assets (NPAs) coming in at 0.56 percent, said Chandra Shekhar Ghosh, MD and CEO of the bank. | Reuters
Bharti Infratel: The board of directors has approved an extension of the long stop date by 60 days on the basis of agreements on closing adjustments and other conditions precedent for closing. Based on the net debt and such agreed closing adjustments, it is expected that the dilution of equity stake held by the current shareholders shall be lower. | Reuters
IVRCL Infra: Last date to submit EOI for the company extended to Oct 29.