Stocks to watch: Voda Idea, RIL, Cipla, Indiabulls Housing, pharma stocks – Business Standard

Vodafone Idea is likely to post a narrowing of losses in Q4FY21 even though subscriber losses and zero IUC regime may dent the top-line

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Markets | stocks to watch | Reliance Industries

SI Reporter  |  New Delhi 

The SGX Nifty traded 22 points higher at 15,809 around 9 am, indicating a positive start for the benchmark indices on Wednesday.

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

Earnings today: More than 900 companies will release their quarterly earnings today, including SpiceJet, Vodafone Idea, Dish TV India, IRCON International, SREI Infrastructure Finance and VIP Clothing.

Vodafone Idea is likely to post a narrowing of losses in Q4FY21 even though subscriber losses and zero IUC regime may dent the top-line. Besides, its average revenue per user (ARPU) is also seen declining around 10 per cent year-on-year (YoY). READ MORE

Cipla: The DCGI has granted permission to Cipla to import Moderna’s Covid-19 vaccine. Although Cipla clarified that it is supporting Moderna with the regulatory approval and import of vaccines to be donated to India and there is no agreement on commercial supplies at this stage.

Reliance Industries (RIL) and Abu Dhabi National Oil Company (ADNOC) have signed an agreement to set up a new petrochemical complex in Ruwais, Abu Dhabi, to produce chlor-alkali, ethylene dichloride, and polyvinyl chloride (PVC).

Indiabulls Housing Finance, on Tuesday, said its board has approved a proposal to raise over Rs 7,000 crore through various means.

Indian Railway Catering and Tourism Corporation (IRCTC) on Tuesday reported a 23 per cent YoY decline in its profit after tax to Rs 103.78 crore for the March 2021 quarter.

Steel stocks: The government, on Tuesday, extended anti-dumping duty on certain variety of steel products till December 15 this year with a view to guarding domestic manufacturers from cheap imports from countries, including China, Japan and Korea.

Pharma stocks: Five Indian generic drugmakers — Cipla, Dr Reddy’s Laboratories, Sun Pharma, Torrent Pharma, and privately held Emcure Pharma — said on Tuesday they would jointly conduct a clinical trial of Merck & Co’s anti-viral drug to treat mild Covid-19 in non-hospitalised patients in India.

FMCG stocks: India on Tuesday cut the base import tax on crude palm oil to 10 per cent from 15 per cent for three months. The lower tax rate will apply from June 30 to September 30.

Bharti Airtel: The telecom major, on Tuesday, said it would invest $500 million to become the largest shareholder in the satellite communications company OneWeb

HUDCO reported higher consolidated profit at Rs 526.28 crore in Q4FY21 against Rs 440.91 crore in the year-ago quarter. Revenue fell to Rs 1,759.38 crore.

Uflex Ltd reported an over two-fold jump in consolidated net profit at Rs 264.95 crore for the fourth quarter ended March 2021. Total income rose 45.05 per cent to Rs 2,571.77 crore as against Rs 1,773 crore in Q4FY20.

Tata Coffee: ICRA has upgraded the long term rating to AA+/Stable from AA/Stable, and re-affirmed the short term rating at A1+

Sterling and Wilson Solar Limited, on Tuesday, reported a consolidated net loss of Rs 344.80 crore for the fourth quarter ended March 2021 as against Rs 128.59 crore net profit in the year-ago quarter.

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