NEW DELHI Here is a list of the top ten stocks that may appear in the news on Wednesday:
Bharti Airtel: The country’s second-largest telecoms operator reported its highest consolidated quarterly revenues thanks to increased data usage and higher realizations, helping it cut losses in the July-September period. Consolidated revenues increased 22% to ₹Rs 25,785 crore in the September quarter, while the net loss was reduced to ₹763 crore. In addition, Bharti Airtel will sell 100% of the shares of its business in Ghana for ₹184 crore for the government of the West African country.
ICICI Bank: The nation’s third-largest private sector lender has said that the U.S. Securities and Exchange Commission (SEC) does not intend to take any enforcement action against the lender related to its investigation into the impairment provisions of bank loans according to generally accepted US accounting principles.
MotoCorp Hero: The country’s largest two-wheeler manufacturer, Hero MotoCorp and Harley-Davidson, announced a far-reaching partnership for the Indian market, days after the American cult bike maker announced its departure from the country.
Tata Motors: The consolidated net loss of the company was increased to ₹Rs 307 crore in the September quarter due to the pandemic, but a gradual recovery in supply and demand is expected in the coming months. Tata Motors had reported a net loss of ₹Rs 187.7 million during the previous fiscal period from July to September.
ABFRL: Merchants body CAIT has raised objections to Aditya Birla Fashion and Retail’s (ABFRL) plans to raise ₹Rs 1,500 crore by issuing a 7.8% stake to Walmart-owned Flipkart Group, claiming that the proposed deal violates the government’s FDI policy.
Lakshmi Vilas Bank: The proposed merger between Clix Capital and Lakshmi Vilas Bank (LVB) has been delayed in providing the bank’s contingent liability. ₹Rs 720 million related to transactions involving former Religare promoters Malvinder and Shivinder Singh, according to a mint report.
Vedanta: The failed attempt by Vedanta Resources Ltd (VRL), led by Anil Agarwal, to take full ownership of its profitable operating subsidiary Vedanta Ltd, will weaken liquidity, Moody’s Investors Service said, giving reasons for placing VRL’s rating on review for downgrade. .
Sanofi India: Pharmaceutical Sanofi India reported a net profit of ₹Rs 132.9 million for the quarter ended September 30, 2020. The company had posted a profit ₹Rs 126.6 million in the corresponding period of the previous fiscal year.
ICICI Prudential Life Insurance: Leading private sector life insurer ICICI Prudential Life Insurance Co reported a flat net profit of ₹Rs 303.22 crore in the September quarter, weighed down by higher tax expense that offset high underwriting gain and record margin on new premium income. The company had posted a net profit of ₹Rs 301.86 crore in the prior year quarter, it said in a statement.
JM Financial: The company reported a consolidated net profit of ₹Rs 139.06 crore for the September quarter, a growth of 7.31% over the same period last fiscal year, despite a 5.6% decline in revenue due to the pandemic.
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