The Indian market is likely to open lower Wednesday following losses in Asian peers as worries over the impact of US-China tension dampened sentiment. At 8:10 am, the SGX Nifty was trading 17.75 points or 0.20 percent lower at 9,030.25, indicating a negative start for the Sensex and Nifty50.
Here are the top 10 buzzing stocks for today:
1. Kotak Mahindra Bank: The bank launched qualified institutional placement offering 6.5 crore equity to raise up to Rs 7,500 crore at a floor price of Rs 1,147.75 per share.
2. Titan Company: The company said that its operating cash flow was negative due to virtually zero sales during the first 6 weeks of lockdown, increase in mark-to-market cash outflow on gold hedge due to rising gold prices and committed costs being incurred. The company said that the COVID-19 situation is expected to adversely affect profitability during the first half of this year.
3. Torrent Pharmaceuticals: The company reported a consolidated net profit of Rs 314 crore in Q4FY20 as against a net loss of Rs 152 crore, YoY. Revenue from operations stood at Rs 1,946 crore versus Rs 1,856 crore.
4. Max Financial: The company reported 96 percent fall in consolidated net profit for Q4FY20 to Rs 6.67 crore due to the impact of a tax dispute settlement and the coronavirus pandemic.
5. Shree Steel Wire Ropes: The company said that its business has been adversely affected due to the lockdown and the exact impact of Covid-19 as of now is hard to ascertain.
6. Deepak Nitrite: The company’s net profit in Q4FY20 rose to Rs 172.30 crore from Rs 91.46 crore while revenue rose to Rs 1,055.54 crore versus Rs 1,008 crore, YoY.
7. VIP Industries: The company’s net profit in Q4FY20 declined to Rs 9.52 crore versus Rs 25.28 crore while revenue fell to Rs 311.34 crore from Rs 434.98 crore, YoY.
8. Asahi Infrastructure Projects: SEBI imposed a fine of over Rs 11 crore on the company and its senior official in a matter related to manipulation in the issuance of global depository receipts (GDR).
9. Lloyds Metals and Energy: Brickwork has reaffirmed rating of banks fund based loan facilities (long term) as BBB-/Stable.
10. Hind Rectifiers:
The company has resumed full manufacturing operations at Dehradun plant.