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CNBC-TV18's top stocks to watch out for on January 24

Updated : 2020-01-24 07:45:36

Indian shares are expected to open lower on Friday following muted trades in global markets amid concerns over spreading coronavirus in China. Bharti Airtel and Vodafone Idea will be in focus today after the DoT decided not to take actions against telcos for not paying AGR dues on time. Also in news were Biocon and HDFC Life, which reported their Q3FY20 earnings. Here is a list of top stocks to watch out for in today’s trade:

The government has asked the Department of Telecommunications (DoT) not to take any coercive action against telecom companies for non-payment of adjusted gross revenue (AGR) dues until further court orders. Bharti Airtel and Vodafone Idea communicated to the DoT that they will not pay the dues by the deadline and will instead wait for the outcome of the subsequent modification petition filed seeking relaxation in payments.
The government has asked the Department of Telecommunications (DoT) not to take any coercive action against telecom companies for non-payment of adjusted gross revenue (AGR) dues until further court orders. Bharti Airtel and Vodafone Idea communicated to the DoT that they will not pay the dues by the deadline and will instead wait for the outcome of the subsequent modification petition filed seeking relaxation in payments.
Biocon reported a 6.62 percent fall in consolidated net profit at Rs 202.8 crore for Q3FY20 due to higher research and development (R&D) expenses and tax impact of an exceptional item. Consolidated revenue from operations rose to Rs 1,748.1 crore from Rs 1,540.8 crore a year ago. Expenses rose to Rs 1,465.6 crore in Q3 as against Rs 1,295.4 crore in the year-ago period. Net R&D expenses for the quarter at Rs 131 crore was up by 71 percent from the year-ago period.
Biocon reported a 6.62 percent fall in consolidated net profit at Rs 202.8 crore for Q3FY20 due to higher research and development (R&D) expenses and tax impact of an exceptional item. Consolidated revenue from operations rose to Rs 1,748.1 crore from Rs 1,540.8 crore a year ago. Expenses rose to Rs 1,465.6 crore in Q3 as against Rs 1,295.4 crore in the year-ago period. Net R&D expenses for the quarter at Rs 131 crore was up by 71 percent from the year-ago period.
Oil Minister Dharmendra Pradhan said the Rs 3-lakh crore sought by the DoT from non-telecom PSUs, such as GAIL, Oil India Ltd and PowerGrid, was a result of
Oil Minister Dharmendra Pradhan said the Rs 3-lakh crore sought by the DoT from non-telecom PSUs, such as GAIL, Oil India Ltd and PowerGrid, was a result of "communication gap" as these firms are not liable to pay any dues following the Supreme Court's October 24 ruling that non-telecom revenues of telecom firms should be included for considering payments of government dues.
Sebi is likely to call for a forensic audit of the books of Infosys as it continues to probe whistleblower allegations of alleged financial irregularities at the company, sources told PTI. Following the whistleblower complaints that emerged last year, the regulator had initiated a probe into the matter. In November, Sebi Chairman Ajay Tyagi said a probe was on into the Infosys matter. The National Financial Reporting Authority (NFRA), which comes under the corporate affairs ministry, is also looking into the allegations.
Sebi is likely to call for a forensic audit of the books of Infosys as it continues to probe whistleblower allegations of alleged financial irregularities at the company, sources told PTI. Following the whistleblower complaints that emerged last year, the regulator had initiated a probe into the matter. In November, Sebi Chairman Ajay Tyagi said a probe was on into the Infosys matter. The National Financial Reporting Authority (NFRA), which comes under the corporate affairs ministry, is also looking into the allegations.
Bharti Airtel chief regulatory officer Ravi Gandhi has resigned to pursue career outside the company.
Bharti Airtel chief regulatory officer Ravi Gandhi has resigned to pursue career outside the company. "Ravi Gandhi has resigned from Bharti Airtel and will continue to work with the company till March. He has expressed interest to pursue career outside the company," a person privy to the development told PTI. When contacted, a Bharti Airtel spokesperson confirmed the development.
Reliance Jio, a unit of Reliance Industries, paid Rs 195 crore to the telecom department to clear all adjusted gross revenue dues accounted till January 31, 2020. The company has made provision of Rs 177 crore to pay for the government revenue share based on the Supreme Court judgement dated October 24, 2019. (  Disclaimer:  RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com. )
Reliance Jio, a unit of Reliance Industries, paid Rs 195 crore to the telecom department to clear all adjusted gross revenue dues accounted till January 31, 2020. The company has made provision of Rs 177 crore to pay for the government revenue share based on the Supreme Court judgement dated October 24, 2019. (Disclaimer: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.)
The NCLAT adjourned till January 31 its hearing on Bhushan Power and Steel Ltd's sale to JSW Steel under the insolvency process. The appellate tribunal has given around one week more to investigative agencies to file an affidavit clarifying whether prosecution against Bhushan Power and Steel can be dropped once JSW Steel, the successful bidder, takes over the company. The ED is investigating alleged fraud committed by the debt-laden firm's previous management.
The NCLAT adjourned till January 31 its hearing on Bhushan Power and Steel Ltd's sale to JSW Steel under the insolvency process. The appellate tribunal has given around one week more to investigative agencies to file an affidavit clarifying whether prosecution against Bhushan Power and Steel can be dropped once JSW Steel, the successful bidder, takes over the company. The ED is investigating alleged fraud committed by the debt-laden firm's previous management.
Cholamandalam Investment and Finance reported a 28 percent jump in net profit at Rs 389 crore for Q3FY20. Total income rose to Rs 2,274.90 crore from Rs 1,826.23 crore a year ago. The company maintained strong asset quality with a marginal increase in Stage 3 receivables to 3.54 percent from 3.30 percent in December 2018.
Cholamandalam Investment and Finance reported a 28 percent jump in net profit at Rs 389 crore for Q3FY20. Total income rose to Rs 2,274.90 crore from Rs 1,826.23 crore a year ago. The company maintained strong asset quality with a marginal increase in Stage 3 receivables to 3.54 percent from 3.30 percent in December 2018.
Radico Khaitan reported a 12.97 percent increase in its consolidated net profit for the quarter ended December at Rs 59.74 crore. The total income of the liquor major, however, dropped 2.31 percent to Rs 2,013.46 crore during the period under review, from Rs 2,061.12 crore earned during the same period last fiscal.
Radico Khaitan reported a 12.97 percent increase in its consolidated net profit for the quarter ended December at Rs 59.74 crore. The total income of the liquor major, however, dropped 2.31 percent to Rs 2,013.46 crore during the period under review, from Rs 2,061.12 crore earned during the same period last fiscal.
HDFC Life reported flat growth in profit at Rs 250.24 crore for Q3FY20. Total income declined to Rs 11,648.72 crore from Rs 9,303.09 crore a year ago. The company's solvency ratio was 1.95 as on December 31 as against the regulatory requirement of 1.50.
HDFC Life reported flat growth in profit at Rs 250.24 crore for Q3FY20. Total income declined to Rs 11,648.72 crore from Rs 9,303.09 crore a year ago. The company's solvency ratio was 1.95 as on December 31 as against the regulatory requirement of 1.50.
Zensar Technologies posted a 32.6 percent fall in net profit to Rs 39.5 crore for the December 2019 quarter. Revenue was at Rs 1,020.6 crore Q3FY20, up from Rs 1,022 crore a year ago. In dollar terms, the net profit declined 31.7 percent to $5.6 million, while revenue grew 1.1 percent to $143.3 million. Digital revenues accounted for 54.1 percent of the quarter's revenue.
Zensar Technologies posted a 32.6 percent fall in net profit to Rs 39.5 crore for the December 2019 quarter. Revenue was at Rs 1,020.6 crore Q3FY20, up from Rs 1,022 crore a year ago. In dollar terms, the net profit declined 31.7 percent to $5.6 million, while revenue grew 1.1 percent to $143.3 million. Digital revenues accounted for 54.1 percent of the quarter's revenue.
JM Financial reported a 14.6 percent rise in its net income to Rs 157.5 crore for the December 2019 quarter, despite a muted growth in total income as its disbursals shrunk during the period. Total income inched up 0.52 percent to Rs 905.45 crore. Loan book steeply fell to Rs 12,662 crore in the quarter from a high Rs 16,136 crore in December 2018.
JM Financial reported a 14.6 percent rise in its net income to Rs 157.5 crore for the December 2019 quarter, despite a muted growth in total income as its disbursals shrunk during the period. Total income inched up 0.52 percent to Rs 905.45 crore. Loan book steeply fell to Rs 12,662 crore in the quarter from a high Rs 16,136 crore in December 2018.
Multiplex operator PVR Ltd reported a consolidated net profit after tax at Rs 36.26 crore in Q3FY20, compared to a profit of Rs 55.22 crore a year ago. Revenue from operations during the period stood at Rs 915.74 crore as against Rs 843.11 crore last year. In the third quarter, the company said it successfully completed QIP of equity shares for Rs 500 crore.
Multiplex operator PVR Ltd reported a consolidated net profit after tax at Rs 36.26 crore in Q3FY20, compared to a profit of Rs 55.22 crore a year ago. Revenue from operations during the period stood at Rs 915.74 crore as against Rs 843.11 crore last year. In the third quarter, the company said it successfully completed QIP of equity shares for Rs 500 crore.
Q3FY20 Earnings Today
Q3FY20 Earnings Today
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