Stocks to watch: DHFL, Infosys, Tata Metaliks, Reliance Home Finance, BHEL

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At 08:40 am, Nifty futures on the Singapore Exchange (SGX) were trading 36.50 points or 0.32 per cent higher at 11,583, indicating a positive start for the Indian market today.

Here’s a look at some of the counters which are likely to trade actively on Monday –

DHFL: Dewan Housing Finance Corp (DHFL) warned on Saturday that its financial situation was so grim that it may not survive. It reported a net loss of Rs 2,223 crore for March quarter on account of the additional provisioning of Rs 3,280 crore. In the same quarter in FY18, the housing finance firm had reported a net profit of Rs 134 crore. CLICK TO READ FULL REPORT

Earnings Today: Bajaj Consumer Care, Tata Metaliks, and Gujarat Hotels are among the eight companies set to declare their June quarter results today.

IndiGo: The board of InterGlobe Aviation, which operates IndiGo, will seek clarification from co-promoter Rakesh Gangwal on his allegations that independent directors failed to take ‘independent’ decisions on corporate governance lapses, at the board meeting on July 19.

 

Avenue Supermarts on Saturday reported a 33.8 per cent YoY rise in its standalone net profit at Rs 335.3 crore for the quarter ended March 31, 2019. Revenue for the quarter came in at Rs 5,780.5 crore, up 26.8 per cent YoY. EBITDA jumped by 41 per cent YoY to Rs 595.9 crore.

Allahabad Bank: The state-run lender has reported a fraud of Rs 1,775 crore by Bhushan Power & Steel (BPSL) to RBI. It has already made provisions amounting to nearly 900.20 crore against the exposure of the Bank in BPSL.

Sun Pharma: Global brokerage firm Morgan Stanley has double upgraded the stock to overweight in expectation of a revival in its earnings from F21 onwards, driven by steady growth in the base business coupled with plateauing of the current elevated cost structure, leading to positive operating leverage. The target price has been revised to Rs 505.

Parag Milk: Rating agency ICRA has upgraded its ratings on the bank facilities of Parag Milk Foods, citing healthy financial profile, established brand presence, and expanding distribution network.

Piramal Enterprises: As per news reports, Flipkart co-founder and tech entrepreneur Sachin Bansal has invested Rs 200 crore in debt paper issued by Piramal Enterprises.

Reliance Home Finance is at an advanced stage to close inter-creditor agreements (ICAs) with its lenders, said a Business Standard report citing sources.

BHEL: State-owned engineering firm BHEL Sunday said it has bagged a Rs-100 crore order from NTPC for setting up a 25 MW floating solar photovoltaic power plant at Simhadri in Andhra Pradesh.

Infosys: Infosys on Friday reported a 5.26 per cent year-on-year (YoY) rise in its net profit at Rs 3,802 crore for the first quarter (April-June) of the financial year 2019-20. Revenues for the quarter under review stood at Rs 21,803 crore, up 14 per cent YoY and 1.2 per cent on quarter-on-quarter (QoQ) basis. Revenue in constant currency terms grew 2.8 per cent. READ MORE

GVK: According to news report by The Economic Times, Canada’s Public Sector Pension Investment Board (PSP Investments) has tied up with the Abu Dhabi Investment Authority-National Investment and Infrastructure Fund consortium to buy 49 per cent of GVK Airport Holdings for about Rs 6,000 crore

Written by Anindita Ghosh