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Entering Monday’s session, Dalal Street has to adjust to the slump that occurred in world markets, as stocks turned the worst on the first trading day of May after the President of the United States Donald Trump threatened to apply new tariffs to China on the coronavirus. crisis. Most Asian and European markets sank on Friday.
That said, here are some stocks that are likely to see some action in Monday’s trade:
Trusted Industries (RIL): Oil telecommunications giant RIL lost street estimates on Thursday and reported a 38.73 percent (YoY) annual decline in consolidated net profit of Rs 6,348 million for the quarter ended March 31. Separately, Reliance Jio also announced plans to enter the video conferencing space with its Jio Meet app.
YES Bank: The private lender said it has appointed Neeraj Dhawan as its chief risk officer with immediate effect. The board of directors, in video, its resolution of May 1, 2020, appointed Neeraj Dhawan as the bank’s chief risk officer for a period of three years, Yes Bank said in a regulatory document.
Cadila Healthcare: Pharmaceutical firm Zydus Cadila said it received tentative approval from the U.S. health regulator to market generic empagliflozin and metformin hydrochloride tablets, used to treat type 2 diabetes, in the U.S. market.
Adani Ports and Special Economic Zone (APSEZ): The company said its promoters Gautam S Adani and Rajesh Adani, on behalf of the SB Adani Family Trust, have pledged 5.66 million crore of the company’s shares, which comprise their 2.78 percent stake.
Liquor stocks: The cheers accompanying the reopening of the liquor stores could be short-lived as the companies said that existing stocks at the dealers would run out after the initial round of storage and replenishment could take about a month.
Kalpataru power transmission: The company said it terminated the agreement with CLP India to sell its ALP transmission project for failing to meet certain conditions. The agreement was signed in July last year.
Baroda Bank: The MSMEs sector is a key priority area and the Bank of Baroda (BoB) is taking various measures, including the extension of financial support worth Rs 2.3 billion, to help the sector be affected by the blockade induced by the coronavirus, the Executive Director of the bank, Vikramaditya Singh Khichi. said.
Coal India: The company has shifted its focus to overburden removal, the process of removing the top layer of soil and rocks to expose the coal seams in its opencast mines, as the power sector, a major consumer of dry fuel, It has witnessed almost 30 percent. drop in fuel consumption amid shutdown, a company official said.
ITC: The major ITC for fast-moving consumer goods has increased the production of personal care to meet the demand for disinfectants. The company that sells the Savlon range of disinfectants has stepped up production at the Himachal Pradesh facility to produce an additional 1.25 lakh liters.
Mahindra and Mahindra (M&M): M&M reported an 83 percent decrease in total tractor sales to 4,772 units in April with a crash affecting sales. The company had sold a total of 28,552 units in the same month last year.
Hindustan Unilever (HUL): Major FMCG Hindustan Unilever reported a 3.43% year-on-year (year-on-year) drop in consolidated net profit of Rs 1.520 billion for the March quarter, compared to Rs 1.574 billion in the same quarter last year. The earnings figure lost ET NOW survey estimated at Rs 1,822 crore.
Tech Mahindra: IT expert Tech Mahindra posted a 29 percent YoY drop in consolidated earnings to Rs 803.90 million for the quarter ended March 31. Analysts in an ET NOW survey had projected the number at Rs 1,012.40 million.
AU Small Finance Bank: The bank reported a 3% increase in net profits to Rs 122 crore for the last quarter of 2019-20. The bank had recorded a net profit of Rs 118 crore in the period January-March 2018-19.
ICICI Lombard: The company reported a 23.8 percent increase in net profit in the March quarter of Rs 282 crore due to lower engine claims, even when it suffered losses in the stock markets that fell 30 percent in the quarter.
Mahindra Logistics: The company said its board of directors approved increasing Rs 250 million by various means, including loans and debt issues. The loan will be made in one or more tranches, the company said in a regulatory document.
GE Power India: The company said it has resumed production at its Durgapur plant in West Bengal. GE Power had temporarily suspended operations at its facilities located in Durgapur, West Bengal and Noida, Uttar Pradesh, due to the government-imposed blockade in March to contain the COVID-19 pandemic.
Asian paintings: India’s leading manufacturer of decorative paints, Asian Paints, said it will start manufacturing hand and surface disinfectants under the Viroprotek brand and will be available on the market starting next week.
Marico Marico entered the vegetable and fruit hygiene category with the launch of Veggie Clean, which will help disinfect fresh products.
Mahindra Holidays & Resorts: The company said it plans to reopen resorts that are within a driveable distance from metropolitan cities first once the coronavirus blockade is lifted.
Tata Motors, Ashok Leyland: The two companies have said that a well-defined scrapping policy based on financial incentives can help create demand in the commercial vehicle (CV) segment that has come to a complete halt.
Maruti Suzuki: Maruti Suzuki, the country’s largest automaker, reported zero domestic sales on Friday last month, in light of the national shutdown due to the coronavirus pandemic. That marked the first time that Maruti Suzuki recorded zero sales in a month in the domestic market.
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