Stocks to watch: HDFC Bank, Infosys, cement firms, TVS Motor, Goa Carbon

HDFC Bank on Saturday reported a 15.4 per cent rise in consolidated net profit at Rs 7,280.22 crore for the fourth quarter of 2019-20.
At 08:46 am, Nifty futures on the Singapore Exchange (SGX) were trading 27 points or 0.29 per cent lower at 9,282 levels, indicating a flat start for the Indian market on Monday. 

Here's a look at the top stocks that may remain in focus today - 

HDFC Bank: Private sector lender HDFC Bank on Saturday reported a 15.4 per cent rise in consolidated net profit at Rs 7,280.22 crore for the fourth quarter of 2019-20. The bank had posted a net profit of Rs 6,300.81 crore during the corresponding January-March period of 2018-19.

Infosys: The IT major is slated to announce its March quarter results later in the day. According to analyst estimates, it is expected to take a 1 per cent QoQ hit in its revenue growth in constant currency (CC) terms for the March quarter of FY20 (Q4FY20) due to disruptions caused by Covid-19 lockdown. READ MORE

IndiGo: IndiGo closed all its bookings till May 31, shortly after the Directorate General of Civil Aviation (DGCA) on Sunday prevented all airlines from taking bookings till a final decision on lifting or easing restrictions on resuming air travel is announced. “It is brought to the notice of all concerned that no decision to commence flights on May 4 has been taken. All airlines are directed to refrain from booking tickets,” the DGCA order said.

Banks, NBFCs: As per news reports, the Indian Banks Association is expected to meet today to consider providing the moratorium relief to non-banking financial companies (NBFCs).

TVS Motor Company on Friday announced the acquisition of the United Kingdom’s most iconic sporting motorcycle ‘Norton’ in an all-cash deal, for 16 million pound, by acquiring certain assets of Norton Motorcycles (UK) (in administration), through one of TVS Motor’s overseas arms.

Cement companies: Leading cement makers Ambuja Cements, ACC, India Cements and JK Lakshmi Cement would start manufacturing in phased manner from April 20 and are in discussion with the relevant government authorities. The cement makers in their regulatory filings have said they would abide by the standard operating procedure (SOP) for social distancing mandated by the government.

Goa Carbon: The company has resumed operations at the Company's Goa Unit located at St. Jose de Areal, Salcete, Goa from Sunday after taking necessary measures.

Century Textiles: The company has commenced its operations in its division in Nainital, Uttarakhand. 

Steel manufacturers: Indian steel demand is expected to plunge to multi-year lows in 2020, hit by slowdowns in the construction, automotive and rail sectors as India fights the coronavirus with a protracted lockdown, the Indian Steel Association (ISA) said.

 


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