Stocks to watch: GAIL, Bata India, Prestige Estates, Tata Motors, Glenmark

By Administrator_India

Capital Sands

Nifty futures on the Singapore Exchange traded 16 points higher at 15,780 around 8.45 am, indicating a positive start for the benchmark indices in Wednesday’s session:

Here are the top stocks to track in today’s trade:

Earnings Today: A total of 37 companies are slated to post their quarterly earnings today, including GAIL India, Bata India, Star Cement and TeamLease Services.

Prestige Estates: Realty firm Prestige Estates Projects reported a sharp increase in its consolidated net profit to Rs 1,336.3 crore for the quarter ending March, driven by monetisation of large portfolio of commercial assets. Its net profit stood at Rs 15.4 crore in the year-ago period.

Religare Enterprises: Financial services player Religare Enterprises Ltd (REL) on Tuesday said it proposes to raise Rs 570 crore via preferential issuance of shares to a clutch of investors, including existing shareholders, to fund its business plans.

Bandhan Bank: Reserve Bank of India granted approval for the re-appointment of Chandra Shekhar Ghosh, Managing Director & Chief Executive Officer of Bandhan Bank for a period of three years, with effect from July 10, 2021.

Tata Motors: The auto major on Tuesday said it has incorporated a new subsidiary to provide end-to-end services of operating, repair, annual maintenance contracts (AMC) and fleet management services (FMS) for its product range, including electric vehicles.

Max Financial: Max Financial Services on Tuesday reported a multi-fold jump in consolidated net profit at Rs 70 crore for the last quarter of 2020-21. The company had reported a net profit of Rs 6.7 crore in the same period a year ago.

Tata Power: Tata Power Company’s proposed purchase of 51 per cent stake each in three power utilities in Odisha has been cleared by fair trade regulator CCI. The company is to buy the stakes in Western Electricity Supply Company of Odisha (WESCO), Southern Electricity Supply Company of Odisha Ltd (SOUTHCO) and Central Electricity Supply Company of Odisha Ltd (CESCO).

Adani Enterprises: The company said it has incorporated a wholly-owned subsidiary company for manufacturing wind turbine generators.

Galaxy Surfactants: The company reported a 25.3 per cent YoY jump in consolidated profit after tax (PAT) to Rs 78.7 crore for the March 2021 quarter. It had posted a consolidated PAT had of Rs 62.8 crore during the corresponding quarter of 2019-20, Galaxy Surfactants said in a statement.

Bank of Baroda: State-owned Bank of Baroda will conduct an e-auction of as many as 46 NPA accounts later this month to recover dues of Rs 597.41 crore.

Glenmark Pharmaceuticals: The firm on Tuesday said interim data from its post marketing surveillance study on anti-viral drug favipiravir in India supports its safety and effectiveness in real world settings with no new safety concerns for COVID-19 patients.

Mphasis: The Competition Commission has given its nod for the proposed acquisition of a stake in IT company Mphasis by BCP Topco, Waverly Pte and Platinum Owl.

INOX Leisure: The board approved opening of QIP on June 8. The floor price of Rs 315.25 per equity share is at a discount of 5.62 per cent to Tuesday’s closing price. The board will meet on June 11 to determine the QIP issue price.

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