Stocks in news: Torrent Pharma, Blue Dart, Sun Pharma, Dabur, United Spirits, Bharti Airtel, VIP Industries among others
by BusinessToday.InStocks in news today on May 27: Torrent Pharma, Blue Dart, Sun Pharma, Dabur, United Spirits, Bharti Airtel, VIP Industries among others are the top stocks to watch out for in Wednesday's trading session
Stocks in the news today: Here is a list of top stocks that are likely to be in focus in Wednesday's trading session based on latest developments. Companies set to announce their earnings are Sun Pharma, Dabur, Heritage Foods, Aditya Birla Fashion and Retail, Vaibhav Global, United Spirits among others. Investors will also be taking cues from the latest released March quarter earnings.
Key highlights on share market; check the latest stock market news
-Sensex closed 63 points lower at 30,609, while the broader Nifty50 index ended 10 points down at 9,029
-Indian Rupee closed at 75.66 per dollar at the interbank forex exchange, as compared to the last closing of 75.95 per US dollar
-On a net basis, FIIs bought Rs 4,716.13 crore, while DIIs purchased Rs 2,841.09 crore worth in equities on Tuesday
Blue Dart: The company reported net loss at Rs 30.57 crore during the quarter ended March 31, 2020, as against profit of Rs 12.24 crore, recorded in a year-ago period. Company's total income fell 7.1% (YoY) to Rs 726 crore in the January-March quarter of the current fiscal as compared to Rs 781 crore in a year ago period.
Torrent Pharma: The company reported 44% rise in net profit at Rs 314 crore during the quarter ended March 31, 2020, as against loss of Rs 152 crore, recorded in a year-ago period. Company's total income rose 4.8% (YoY) to Rs 1946 crore in the January-March quarter of the current fiscal as compared to Rs 1856 crore in a year ago period.
Coromandel International: The company reported 112% gain in net profit at Rs 234 crore during the quarter ended March 31, 2020, as against profit of Rs 110 crore, recorded in a year-ago period. Company's total income fell 8.84% (YoY) to Rs 2880 crore in the January-March quarter of the current fiscal as compared to Rs 2646 crore in a year ago period.
Deepak Nitrite: The company reported 9.95% rise in its net profit at Rs 172 crore during the quarter ended March 31, 2020, as against loss of Rs 156 crore, recorded in a year-ago period. Company's total income fell 6.7% (YoY) to Rs 1057 crore in the January-March quarter of the current fiscal as compared to Rs 1134 crore in a year ago period.
VIP Industries: The company reported 62% drop in net profit at Rs 9.5 crore during the quarter ended March 31, 2020, as against profit of Rs 25.28 crore, recorded in a year-ago period. Company's total income fell 27% (YoY) to Rs 316 crore in the January-March quarter of the current fiscal as compared to Rs 436 crore in a year ago period.
Praj Industries: The company reported 25% decline in net profit at Rs 24.9 crore during the quarter ended March 31, 2020, as against profit of Rs 33.4 crore, recorded in a year-ago period. Company's total income fell 19.5% (YoY) to Rs 296 crore in the January-March quarter of the current fiscal as compared to Rs 368 crore in a year ago period.
Automotive Axles: The company reported 80% drop in net profit at Rs 5.8 crore during the quarter ended March 31, 2020, as against profit of Rs 30 crore, recorded in a year-ago period. Company's total income fell 64% (YoY) to Rs 168 crore in the January-March quarter of the current fiscal as compared to Rs 481 crore in a year ago period.
Bharti Airtel: Bharti Telecom, the promoter of the company, have today sold 2.75% stake to institutional investors through an accelerated book building process in the secondary market. The total sale proceeds of over Rs 8433 crore was oversubscribed multiple times
Kotak Mahindra Bank: Bank's board of directors have approved the opening of the issue Qualified institutions placement (QIP) of equity shares of face value Rs 5 each from May 26, 2020. The board has fixed floor price for QIP as Rs. 1147.75
Earnings Today: Sun Pharma, Dabur, Heritage Foods, India Grid Trust, Foseco, Aditya Birla Fashion and Retail, Vaibhav Global, United Spirits, Tata Investments, Quess, Ujjivan Financial Services among others will be reporting March earnings today.