The Indian market is likely to open lower Friday following losses in global markets as the COVID-19 cases continue to surge in the US. At 7:40 am, the SGX Nifty was trading 109.50 points or 0.86 percent lower at 12,637.50, indicating a negative start for the Sensex and Nifty50.
Here are the top 10 buzzing stocks for today:
1. Reliance Industries: The company will invest up to $50 million in Breakthrough Energy Ventures IILP. The capital contribution constitutes 5.75 percent of the size of the fund contemplated at present. The said investment will be made in tranches over the next 8-10 years. (Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
2. Mahanagar Gas: The company’s net profit in Q2FY21 fell 46.6 percent to Rs 144.3 crore from Rs 270.1 crore while revenue declined 36.3 percent to Rs 549 crore from Rs 861.5 crore, YoY.
3. Grasim Industries: The company’s board approved the sale of fertiliser operations to Indorama for Rs 2,650 crore. Net profit in Q2FY21 fell 31.6 percent to Rs 360.2 crore from Rs 526.5 crore while revenue declined 28.3 percent to Rs 3,438.2 crore from Rs 4,795.1 crore, YoY.
4. Indiabulls Real Estate: Rakesh Jhunjhunwala's Rare Enterprises on Thursday acquired 50 lakh shares of the company at an average price of Rs 57.73 through an open market transaction.
5. Eicher Motors: The company’s net profit in Q2FY21 declined 40.1 percent to Rs 343.3 crore from Rs 572.7 crore while revenue fell 2.7 percent to Rs 2,133.6 crore from Rs 2,192.5 crore, YoY.
6. Fortis Healthcare: The company’s consolidated net profit in Q2FY21 declined 87.52 percent to Rs 15.47 crore from Rs 124.04 crore, YoY. Consolidated revenue from the operations stood at Rs 994.70 crore versus Rs 1,212.17 crore, YoY. Hospital business revenues were at Rs 746.3 crore as against Rs 972.3 crore earlier.
7. Sun TV Network: The company’s net profit in Q2FY21 decreased 9.1 percent to Rs 335.1 crore from Rs 368.7 crore while revenue fell 4.4 percent to Rs 768.7 crore from Rs 803.9 crore, YoY.
8. HUDCO: The company’s net profit in Q2FY21 fell 37 percent to Rs 457.2 crore from Rs 725.8 crore while revenue dropped 9.9 percent to Rs 1,833.6 crore from Rs 2,035.7 crore, YoY.
9. Punjab & Sind Bank: The bank’s net loss in Q2FY21 narrowed to Rs 401.27 crore from Rs 468.73 crore in the same period a year ago. The loss, however, widened sequentially from Rs 116.89 crore in the June quarter of FY21.
10. Sterling and Wilson Solar
: The company reported an 81 percent drop in consolidated net profit to Rs 15.09 crore in Q2FY21 from Rs 79.41 crore, YoY. Total income rose to Rs 1,375.94 crore from Rs 1,265.65 crore, YoY.