The Indian market is likely to open lower Monday following losses in global markets as surge in coronavirus cases raised concerns over opening of economies. At 8:05 am, the SGX Nifty was trading 73.25 points or 0.71 percent lower at 10,258.80, indicating a negative start for the Sensex and Nifty50.
Here are the top 10 buzzing stocks for today:
1. ITC: The company reported 9.05 percent rise in Q4FY20 standalone net profit to Rs 3,797.08 crore while revenue fell 6.4 percent to Rs 11,420.04 crore from Rs 12,206.03 crore, YoY. The company recommended a dividend of Rs 10.15 for FY20.
2. Piramal Enterprises: Carlyle Group will buy 20 percent stake in company’s subsidiary Piramal Pharma for $490 million or Rs 3,700 crore via fresh equity issuance. The transaction values Piramal Group's pharma business at an enterprise value of $2.8 billion with an upside option of $360 million if it meet certain milestones in FY21. This will mean an infusion of additional $72 million from Carlyle at a later date. The deal is likely to be completed in this calendar year.
3. IDBI Bank: The bank will divest 27 percent stake in IDBI Federal Life Insurance for Rs 595 crore bringing its holding down to 21 percent. The bank will sell 23 percent stake to the existing joint venture partner Aegis Insurance and 4 percent to Federal Bank.
4. Coal India: The company’s Q4FY20 profit fell to Rs 4,625.8 crore from Rs 6,026.5 crore while revenue declined to Rs 27,568.3 crore from Rs 28,585 crore, YoY.
5. Glenmark Pharmaceuticals: The company reported 36.28 percent rise in Q4FY20 consolidated net profit to Rs 220.3 crore from Rs 161.66 crore while revenue increased 7.96 percent to Rs 2,767.48 crore, YoY.
6. NTPC: The company’s net profit in Q4FY20 fell over 70 percent to Rs 1,523.77 crore from Rs 5,161.39 crore while total income rose to Rs 31,315.32 from Rs 26,116.15, YoY.
7. DCB Bank: The bank plans to raise up to Rs 1,000 crore through equity and debt instruments, and will seek shareholders’ approval in its annual general meeting (AGM) on July 11. The bank plans to raise up to Rs 500 crore by qualified institutional placement, and an equal amount by issuing bonds, debentures or securities on a private placement basis.
8. Phoenix Mills: The company’s board will consider fundraising on June 29.
9. Andhra Paper: Radhakishan Damani's Bright Star Investments acquired 5,00,000 shares in the company at Rs 206.23 per share.
10. National Aluminium Company Ltd:
The company reported 57.1 percent fall in Q4FY20 consolidated net profit to Rs 100.51 crore from Rs 234.82 crore while income declined to Rs 2,042.27 crore from Rs 2,863.89 crore, YoY.