Here are some of the stocks in the news today. (Image: Moneycontrol)
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Abu Dhabi Investment Authority (ADIA), one of the world’s biggest sovereign wealth funds, will pump Rs 5,683.5 crore into Jio Platforms joining a posse of A-list global tech investors that have spent millions of dollars on the Reliance Industries unit due to its unique potential to dominate India’s booming digital economy. RIL, the oil-to-retail-to-telecom conglomerate, has now sold a little over 21 percent stake in Jio Platforms through a flurry of fundraising deals and raised as much as Rs 97,885.65 crore, or $12.96 billion. Silver Lake and its co-investors will invest an additional Rs 4,546.80 crore in Jio Platforms, in addition to the Rs 5,655.75 crore of investment by Silver Lake announced on May 4, 2020. Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
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Results on June 8 | Titan Company, Abbott India, Chalet Hotels, Coromandel Engineering Company, Gujarat State Petronet, Inox Leisure, PVR, Themis Medicare, 20 Microns.
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IndusInd Bank | Promoters plan to acquire additional shares of the bank from the open market, the lender informed the stock exchanges on June 7. The promoters, IndusInd International Holdings Ltd. and IndusInd Ltd., presently hold 14.68 percent of the paid-up share capital of the bank. The promoters will now purchase additional shares from the open market within the overall regulatory limit prescribed for promoter equity holding cap, the bank said citing the communication received from promoters.
LG Balakrishnan | Profit at Rs 12.98 cr versus Rs 18.20 cr, revenue at Rs 356.3 cr versus Rs 408.85 cr YoY. (Image: lgb.co.in)
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Saregama India Q4 | Profit at Rs 15.81 cr versus Rs 17.02 cr, revenue at Rs 108.66 cr versus Rs 126.75 cr YoY. (Image: saregama.com)
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SMS Pharmaceuticals Q4 | Profit at Rs 6.39 cr versus Rs 13.3 cr, revenue at Rs 96.46 cr versus Rs 103.7 cr YoY. (Image: smspharma.com)
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RPG Life Sciences Q4 | Profit at Rs 2.98 cr versus Rs 1.54 cr, revenue at Rs 88.67 cr versus Rs 68.80 cr YoY. (Image: Moneycontrol)
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HFCL Q4 | Profit at Rs 5.78 cr versus Rs 62.63 cr, revenue at Rs 663.2 cr versus Rs 1,215.47 cr YoY. (Image: hfcl.com)
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Exide Industries Q4 | Profit at Rs 235.57 cr versus Rs 302.94 cr, revenue at Rs 3,474.68 cr versus Rs 4,251.53 cr YoY. (Image: Exide Industries)
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Jyothy Labs | Company reported a 60.21 percent slump in its consolidated net profit at Rs 26.59 crore in the March quarter, hit by COVID-induced disruptions. It had posted a net profit of Rs 66.83 crore in the January-March quarter of the last fiscal, Jyothy Labs said in a regulatory filing. Revenue from operations was down 23.83 percent to Rs 393 crore during the period under review as against Rs 515.98 crore in the corresponding period a year ago.
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Aditya Birla Capital Q4 | Profit at Rs 143.67 cr versus Rs 258.40 cr, revenue at Rs 4,844.87 cr versus Rs 4,729.61 cr YoY. (Image: Moneycontrol)
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PPAP Automotive Q4 | Profit at Rs 5.85 cr versus Rs 7.4 cr, revenue at Rs 103.53 cr versus Rs 99.12 cr YoY. (Image: ppapco.in)
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Infibeam Avenues | Company reported a 25 percent decline in consolidated net profit at Rs 19.1 crore for March 2020 quarter. The company had posted a net profit of Rs 25.4 crore in the year-ago period, Infibeam Avenues said in a statement. Its revenue declined 27.4 percent to Rs 135.9 crore in the quarter under review as compared with Rs 187.3 crore in corresponding period of 2018-19, it added.
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Indian Overseas Bank | Bank reduced its interest rate on loans linked to MCLR by 30 basis points (bps) in overnight tenor and by 20 bps in one month to one -year tenors with effect from June 10. Hence, loans linked to MCLR will become cheaper. The bank has also reduced its interest rate on loans linked to repo Linked Lending rate (RLLR) from 7.25 percent to 6.85 percent per annum.
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Karnataka Bank | Bank has reported a 56 percent decline in net profit for the March quarter at Rs 27.31 crore due to higher provisions. The private sector lender had posted a net profit of Rs 61.73 crore in the same period of the preceding fiscal ended March 2019, it said in a regulatory filing. Sequentially, net profit in the three months to March declined significantly from Rs 123.14 crore in the third quarter of FY20.
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Divi's Laboratories | Company reported a 32.96 percent rise in its consolidated net profit to Rs 388.23 crore for the quarter ended March 31, 2020. The company had posted a net profit of Rs 291.97 crore for the same period previous fiscal, Divi's Labs said in a BSE filing. Consolidated total income of the company stood at Rs 1,466.44 crore for the quarter under consideration. It was Rs 1,307.97 crore for the same period year ago.
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Canara Bank | Bank announced reduction in its repo-linked lending rate (RLLR) by 40 basis points (bps) to 6.90 percent. Meanwhile, the Bengaluru-based bank also slashed its marginal cost of fund-based lending rate (MCLR) by 20 basis points across various tenors. The revised lending rates will be effective from June 7, Canara Bank said in a statement. All new retail loans (housing, education, vehicle), credit to MSMEs are linked to RLLR.
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Vedanta | Company reported consolidated net loss of Rs 12,521 crore for the quarter ended March 31, 2020 on the exceptional loss of Rs 17,132 crore, primarily due to impairment of assets in oil and gas, copper and iron ore business. However, the company had posted net profit of Rs 2,615 crore in the year-ago period, Vedanta said in a filing to the BSE. The consolidated income of the company during January-March quarter dropped to Rs 20,382 crore, over Rs 25,096 crore in the year-ago period, the filing said.
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HDFC Bank | Bank has cut lending rates by 5 bps w.e.f June 8, CNBC-TV18 reported.
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Bank of Maharashtra | Bank announced reduction in its repo-linked lending rate (RLLR) by 40 basis points (bps) to 7.05 percent. The revision in RLLR rates will be effective from June 8, the bank said in a release.
