HERE ARE THE STOCKS IN FOCUS TODAY 07-10-2020
Reliance Industries: Abu Dhabi Investment Authority will invest Rs 5,512.50 crore into Reliance Retail Ventures.
TCS Q2: Company is expected to see a sequential decline in Q2FY21 reported profit due to provision in the EPIC legal case, but the adjusted bottom line may grow in double-digit QoQ. The ramp-up of large deals is likely to boost dollar revenue growth in the range of 2.5-3 percent and constant currency revenue growth could be in the range of 4.5-5 percent for the quarter ended September 2020, compared to the previous quarter (Q1) which was impacted by supply-side constraints.
PSP Projects: Tender for EPC design and build construction of proposed GIDC Tech-Hub at GIFT City, Gujarat in which the company emerged as L-1 Bidder has been canceled by the authority.
GMR Infrastructure: Promoter GMR Enterprises released a pledge on over 15 crore equity shares.
Zodiac Clothing: ICRA revised the short-term rating for Rs 65 crore line of credit of the company to A3+ from A2.
Dollar Industries: Sunil Mitra resigned as Independent Director of the company.
Linde India: Subhabrata Ghosh resigned as Chief Financial Officer of the company.
Aananda Lakshmi Spinning Mills: Company decided to the temporary closure of its spinning divisions at Bhongir, Telangana due to financial crisis.
Indian Energy Exchange: Company approved the further investment of Rs 6.25 crore in subsidiary Indian Gas Exchange, by way of subscription to equity shares through the rights issue.
Gati: Adarsh Hegde and Jatin Chokshi stepped down from the position of the Non-Executive, Non-Independent Directors of the company.
Raymond: CARE revised credit rating on the company’s long term bank facilities to AA- (credit watch with developing implications), from AA (credit watch with developing implications).
VA Tech Wabag: Subsidiary VA Tech Wabag Brazil Servicios De Agua E Saneamento Ltda, Brazil, is liquidated. This company was not a material subsidiary and did not have any business activity.
Ajanta Pharma: Company gets US FDA nod for OCD drug Clomipramine Hydrochloride.
DHFL: Company said that raudulent transactions worth Rs 2,150.84 crore by way of undervaluing the company’s insurance subsidiary have been detected by transaction auditor Grant Thornton. DHFL is undergoing a resolution process under the Insolvency and Bankruptcy Code.
Sunteck Realty: Pre-sales grew 98 percent QoQ and grew 96 percent YoY at Rs 200 crore. Collections went up 117 percent QoQ and reduced 24 percent YoY at Rs 141 crore.
Glenmark Pharma: Company gets US FDA nod for Dimethyl Fumarate delayed-release capsules that treat relapsing forms of multiple sclerosis.
Sun Pharma: Promoter created a pledge on 11.37 lakh shares on October 3.
Cox & Kings: Enforcement Directorate has arrested Group CFO Anil Khandelwal and the company’s internal auditors in a money laundering case.
Were The Stocks In Focus Today 07-10-2020