Stocks to watch: Piramal Enterprises, ITC, Tata Steel, Axis Bank, Bajaj Fin

At 08:48 am, Nifty futures on the Singapore Exchange (SGX) had been buying and selling 82 details or .eight per cent lessen at 10,249.80, indicating a unfavorable start out for the Indian market on Monday.

Here’s a look at the shares that may well keep on being in focus nowadays –

Axis Financial institution, Bajaj Finance: Rating agency Conventional and Poor’s has downgraded the issuer ranking of Axis Financial institution from “BBB-” to “BB+”, expecting that the heightened financial pitfalls dealing with India’s banking method will affect the lender’s asset quality and economic functionality. The agency has also downgraded ratings of Bajaj Finance.

ITC: Diversified team ITC on Friday claimed a seven.75 per cent fall in its profit in advance of tax at Rs 4,743.forty seven crore for quarter ended March 31, owing to a sharp drop in use, primarily in rural spots thanks to the Covid-19 pandemic. It posted a 4.ninety three per cent drop in its revenue from operations at Rs twelve,560.sixty four crore during the quarter.

HDFC Financial institution: The personal sector financial institution may well raise Rs 13,000 crore through share sales in India and issuance of American Depository Receipts (ADRs), in accordance to a information report by small business day-to-day Mint.

Coal India: Coal India claimed 23 per cent drop in consolidated web profit to Rs 4,637.ninety five crore on 3.six per cent tumble in revenue from operations to Rs 27,568.23 crore in This autumn FY20 in excess of This autumn FY19.

Whole expense in the fourth quarter rose two.six per cent to Rs 22033.90 crore from Rs 21471.seventy eight crore in the exact time period final calendar year.

NTPC: State-operate electric power key NTPC on Saturday claimed in excess of 70 per cent drop in its consolidated web profit at Rs 1,523.seventy seven crore in the March quarter generally thanks to greater tax provision less than the Vivad Se Vishwas’ plan. The consolidated web profit of the enterprise stood at Rs five,161.39 crore for the corresponding quarter final fiscal, a regulatory submitting claimed.

Piramal Enterprises: Piramal Enterprises (PEL) claimed US-dependent personal fairness player Carlyle was getting a twenty per cent stake in its pharma small business at an company worth of $two.seventy eight billion.

Earnings nowadays: As many as 586 firms are scheduled to report their March quarter earnings including GIC Housing Finance, MRF, and Tata Metal.

RITES: The Centre’s Rs 1-trillion plan to redevelop four hundred stations across the country is likely to get a boost with Railways subsidiary RITES in the remaining phase of getting up 24 per cent stake in the Indian Railway Stations Development Corporation (IRSDC).

Adani Transmission: Adani Transmission has signed Share Order Arrangement with Maharashtra State Electrical energy Transmission Enterprise on 25 June, 2020 for acquisition of its complete stake in Kharghar Vikhroli Transmission (KVTPL).

Glenmark Pharma: Glenmark Prescription drugs on Friday posted a 36.28 per cent enhance in its consolidated web profit to Rs 220.3 crore for the fourth quarter ended March 31, 2020.

The Mumbai-dependent drug business had claimed a web profit of Rs 161.66 crore for the corresponding time period of 2018-19.

NALCO: National Aluminium Enterprise (Nalco)’s web profit for FY20 nosedived 92 per cent to Rs 138.23 crore as from Rs 1,732.4 crore, a report profit that the navratna enterprise logged in 2018-19.

Oil India: State-operate Oil India (OIL) has posted an just about twofold enhance in its pre-tax profit in the fourth quarter of FY20 at Rs 267.fifty seven crore, aided by reversal of deferred tax. It had claimed a pre-tax profit of Rs 89.22 crore in the corresponding time period of 2018-19.

BHEL: Care Scores has downgraded the ranking on the very long-term financial institution amenities of Bharat Major Electricals Ltd. (BHEL) to ‘CARE AA’ from ‘CARE AA+’ whilst reaffirming the outlook to ‘Stable’. The ranking on the small-term amenities have been reaffirmed at ‘CARE A1+’.

IDBI Financial institution: The board of directors at IDBI Financial institution has accepted a plan to offload 27 per cent stake in IDBI Federal Life Insurance coverage (IFLI) at a mixed worth of Rs 595 crore, the public sector financial institution claimed on Saturday.

The Phoenix Mills claimed the firm’s board at its meeting scheduled nowadays, 29 June 2020 will take into consideration a proposal to raise cash via numerous modes.