Here is a list of top 10 stocks that may be in focus on Monday:
Britannia: The fast-moving consumer goods company will announce its earnings for the quarter ended September today. Investors will watch this space as the company had missed the Street’s estimate in April-June amid consumption slowdown in the country. Britannia Industries Ltd, the maker of Good Day and Tiger biscuits, had posted a 3.5% year-on-year fall in net profit in the June quarter to ₹249 crore.
Motherson Sumi: The auto component maker will release its earnings for the quarter ended September today. Last week, Moody’s Investors Service had downgraded the rating outlook of the company to negative from stable due to slowing global auto sales leading to its weak financial performance. Shares have also been under pressure due to uncertainty around Brexit.
Yes Bank: The bank has lent over ₹2,000 crore to several companies linked to Indiabulls Group that either have negative net worth or an average equity capital of ₹1 lakh, an affidavit filed by Citizens Whistle Blower Forum in the Delhi High Court said. According to the documents submitted by the NGO as part of the affidavit, the private lender loaned ₹2,183 crore to eight unlisted firms of Indiabulls Group.
IOC: The ministry of environment has granted clearance to Indian Oil Corporation Ltd to set up a 2G ethanol plant worth ₹766 crore in Haryana’s Panipat district. Environment minister Prakash Javadekar announced the news on micro-blogging website Twitter. The minister said the plant will not only promote the use of environment-friendly fuel but also help in doubling farmers’ income.
Coal India: The state-owned coal mining company will report its earnings for the quarter ended September today. Another company in the metal and mining sector Hindalco Industries Ltd will also announce its numbers for July-September. Shares of companies in the sector, including that of Tata Steel Ltd and JSW Steel Ltd, are on the rise due to optimism over a trade deal between the US and China.
BPCL: The state-run fuel retailer on Friday clarified that it has not received any official communication from the government about a plan to sell its 53.3% stake. Investors have cheered news reports on privatisation of the firm. According to a Mint report, Saudi Aramco, Rosneft, Kuwait Petroleum, ExxonMobil, Shell, Total SA and Abu Dhabi National Oil Company have had talks with the Centre regarding the matter.
Eicher Motors: The manufacture of Royal Enfield brand of premium motorcycles on Friday reported a 4.4% year-on-year rise in net profit for the September quarter to ₹573 crore led by a reduction in corporate tax rate. This despite the company’s revenue having declined in the said quarter. The government had in September slashed corporate tax rate to 22% from 30%.
Aurobindo Pharma: The pharmaceutical company on Friday said it is making progress on its acquisition of dermatology and genetics operations of Sandoz amid concerns that the deal was being held up due to certain queries sought by the US Federal Trade Commission. The company, however, did not give details about the negotiations with the anti-trust watchdog.
Bank of Baroda: The bank, after market hours on Friday, reported a five-fold jump in net profit to ₹736 crore for the quarter ended September due to higher other income. The public-sector bank’s other income was buoyed by trading gains of ₹942 crore in the second quarter of this fiscal compared with ₹138 crore a year ago.
IDBI Bank: The state-owned lender on Friday said its net loss narrowed to ₹3,458.8 crore on the back of higher net interest income, other income and fall in provisions for bad loans. The bank had posted a net loss of ₹3,602.5 crore a year ago. Earlier this year, Life Insurance Company acquired a 51% controlling stake in the bank, which now operates as the subsidiary of the insurer.
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