Indian benchmark indices BSE Sensex and NSE’s Nifty50 are set for a positive start on Wednesday in line with gains in global markets. Asian shares edged higher over hopes that the worst of the coronavirus in China may have passed. In stocks to watch out for today, Allahabad Bank, IDBI Bank and Ircon International, among others, reported their Q3 results. Titan acquired Hyderabad-based wearable and IoT platform startup HUG Innovations.
Here are the top stocks in focus today:
IDBI Bank posts a net loss of Rs 5,763 crore net loss in Q3FY20 due to a one-time tax hit of Rs 6,273 crore.
SUN Pharma receives a complete response letter (CRL) from the USFDA for the new drug application for Taclantis.
Syndicate Bank’s Q3FY20 net profit grows to Rs 434.82 crore from Rs 107.99 crore in the year-ago period as bad loans shrink.
D B Realty reports a consolidated net loss of Rs 130.82 crore for Q3FY20, compared to a net loss of Rs 64.30 crore in the year-ago period.
Adani Enterprises unit incorporates three wholly-owned subsidiaries—VSSL, GMSL and PISL.
Hindalco: Novelis reports net income attributable to common shareholder of $107 million in Q3FY20, up 37 percent YoY.
Ircon International’s Q3 net profit rises 52.5 percent to Rs 142.43 crore and the board proposes splitting of the company's one equity share into five shares.
Titan acquires Hyderabad-based wearable and IoT platform startup HUG Innovations.
Chemicals maker BASF India’s net loss narrows to Rs 32.38 crore during Q3FY20, mainly driven by higher income, from Rs 38.37 crore a year ago.
Allahabad Bank reports an over two-fold jump in standalone net loss for Q3FY20 at Rs 1,986.26 crore on higher bad loans and provisioning.