Top stocks to watch today—IndiGo, SpiceJet, Hero MotoCorp, BPCL, Tata Steel, Glenmark Pharma and others
- The SGX
Niftywas trading nearly a percent higher.
- Here’s a list of
stocks to watchfor in trade today.
- Check out the latest news and updates on Business Insider.
On Thursday, the Dow Jones Industrial Average fell 0.29% or 80.12 points, due to the newly-released US unemployment data. However, at 8:05 am, the SGX Nifty was trading nearly a percent higher.
These are the
Domestic steel major Tata Steel posted a consolidated net loss of ₹4,648.13 crore for the quarter ended June, mainly on account of reduced income. However, on a standalone basis, the company managed to maintain profitability despite a significant reduction in income.
According to the filing, Tata Steel posted a standalone net profit of ₹1,193.27 crore in the quarter under review, down from ₹ 1,538.99 crore last year.
The shares of Tata Steel ended flat yesterday.
Bharat Petroleum Corporation Ltd (BPCL), the highlight among the host of state-run companies put on the block by the government reported a 93% increase in its standalone net profit for the April-June quarter at ₹2,076.17 crore.
The rise in profits was largely backed by a 43.22% fall in its total expenditure during the period under review to ₹48,284.06 crore.
The shares of BPCL ended nearly 1% lower yesterday.
The country’s largest two-wheeler maker Hero posted a 95.38% decline in consolidated net profit at ₹57.78 crore for the first quarter ended June 30, on account of lower sales due to the coronavirus pandemic.
The total income during the quarter under review declined to ₹3,119.22 crore as compared with ₹8,410.41 crore in the year-ago period.
The shares of Hero ended nearly 2% lower yesterday.
Eicher Motors arm VECV acquired Volvo Group’s bus business in India for ₹100.5 crore. Definitive agreements have been signed for the integration of Volvo Bus India (VBI) business into VECV, Eicher Motors said in a statement.
The company also reported a consolidated net loss of ₹55 crore for the first quarter ended June 30, with sales adversely hit due to COVID-19 pandemic.
The shares of Eicher ended over 2% lower yesterday.
Bank of India
The board of the Bank of India has approved raising up to ₹8,000 crore by preferential issue, QIP, further public offer, etc.
The shares of BoI ended over 1% lower yesterday.
Jindal Steel and Power
Jindal Steel and Power Ltd (JSPL) has started supplying head hardened (HH) rail to Rail Vikas Nigam Ltd (RVNL) for the Kolkata Metro’s Joka-Esplanade corridor. HH rails are used in high-speed freight corridors and metro rail projects.
In a statement, JSPL said the company was selected by RVNL after a bidding process to supply 3,000 tonnes of HH rails for Kolkata metro rail tracks.
The shares of JSPL ended nearly 2% higher yesterday.
SpiceJet and IndiGo
SpiceJet's passenger load factor in July was at 70% up from 68% in June. However, the market share declined from 16.8% in June to 15.7% in July.
Similarly, IndiGo's passenger load factor in July was almost flat at 60.2%. However, its market share in July was up at 60.4% compared to 52.8% in June.
The shares of SpiceJet and IndiGo ended over 2% and 12% higher, respectively, yesterday.
Hindalco, Berger Paints, Glenmark Pharmaceuticals, Voltas
These companies are slated to report their first quarterly earnings today.
SEE ALSO: Eicher Motors registers first-ever net loss of ₹55 crore in at least a decade
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