Top stocks to watch today— Britannia, Hero MotoCorp, Ashok Leyland, M&M Financial, Indiabulls Housing and more

Top stocks to watch today— Britannia, Hero MotoCorp, Ashok Leyland, M&M Financial, Indiabulls Housing and more
Amid positive cues from the global market, Indian stock-market indices are likely to open higher on Thursday.

At 8:05 am, the SGX Nifty was trading nearly a percent higher, indicating a positive start for the Sensex and Nifty50. On Wednesday, the Dow Jones Industrial Average gained 1.05%, to 27,976.84 points.

These are the stocks to watch out for during the trading session on August 13:

Tata Power

The board of Tata Power has approved the merger of its wholly-owned subsidiary Coastal Gujarat Power Ltd, into the parent company to provide financial relief as it continues to face losses. Gujarat Power operates the ultra mega power plant at Mundra. Besides that, the company on Wednesday posted a consolidated net profit of ₹268 crore, up 10% compared to the same quarter last year.

The shares of Tata Power ended nearly 3% higher yesterday.

Britannia Industries

According to a stock-exchange filing Britannia Industries has allotted ‘commercial papers’ for an aggregate amount of ₹300 crores on August 12, with tenure of 12 months. Commercial paper is an unsecured debt instrument issued typically for the financing of a firm’s short-term liabilities.

The shares of Britannia Industries ended over 2% lower yesterday.

Hero MotoCorp

Hero MotoCorp is slated to report its first quarterly earnings, today. According analysts, the company is expected to see a 66% revenue dip, and over 88% fall in its profit.

The shares of Hero MotoCorp ended over 2% higher yesterday.

Ashok Leyland

Hinduja Group flagship firm Ashok Leyland reported a consolidated net loss of ₹388.82 crore for the first quarter ended June 30. The company’s revenue from operations in April-June 2020 significantly declined to ₹1,486.04 crore as compared with ₹6,588.23 crore in the year-ago period. The shares of Ashok Leyland ended nearly 4% higher yesterday.

Aurobindo Pharma

Drugmaker Aurobindo Pharma’s net profit was up 22.81% to ₹780.68 crore for the quarter ended on June 30, 2020, mainly on account of robust sales in the US market. The shares of Aurobindo Pharma ended nearly 1% lower yesterday.

Indiabulls Housing Finance

Sameer Gehlaut has stepped down as the Executive Chairman of Indiabulls Housing Finance (IBH). The company has appointed former RBI deputy governor SS Mundra as its non-executive chairman with immediate effect. The shares of Indiabulls Housing Finance ended over 2% higher yesterday.

Mahindra & Mahindra Financial Services

Mahindra & Mahindra Financial Services has raised ₹3,088.82 crore through a rights issue which was oversubscribed approximately 1.3 times.

The rights issue of the deposit-taking non-banking finance company closed on Tuesday. The shares of Mahindra & Mahindra Financial Services ended nearly 1% higher yesterday.

Eicher Motors, GAIL India, Grasim Industries, Aditya Birla Fashion

These companies are slated to report their first quarterly earnings today.

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