Stocks to watch: InterGlobe Aviation, Bajaj Finance, HUL, Axis Bank, ACC

IndiGo, the largest airline in India, will shed 10 per cent of its workforce as the airline scrambles to control the impact of the pandemic.
At 08:45 am, Nifty futures on the Singapore Exchange (SGX) were trading 120 points or over 1 per cent higher at 11,130, indicating a positive start for the Indian market on Tuesday. 

Here's a list of stocks that may remain in focus today

HUL: The FMCG major is slated to release its June quarter results for the fiscal year 2020-21 (Q1FY21) later in the day. Analysts will keenly track the company's result after peer Britannia Industries posted better-than-expected numbers for the quarter under review.

Axis Bank: Axis Bank is scheduled to report its June quarter earnings for financial year 2020-21 (Q1FY21) on Tuesday, July 21. Owing to the Rs 7,730.02 crore provisions set aside in the March quarter of FY20, analysts expect lower sequential provisioning in the quarter under review. Besides, loan growth may be tepid due to loss of business amid Covid-19 induced nationwide lockdown.

Earnings today: Besides HUL and Axis Bank, 59 other companies are scheduled to announce their June quarter results today. The list includes names such as Bajaj Finance, Crisil, IndiaMART InterMESH, Polycab, and SBI Life. 

InterGlobe Aviation: IndiGo, the largest airline in India, will shed 10 per cent of its workforce as the airline scrambles to control the impact of the pandemic.

Cement maker ACC on Monday reported a 40.53 per cent decline in its consolidated net profit to Rs 270.95 crore for the quarter ending June, impacted mainly by a decline in sales during the lockdown. The company, which follows a January-December financial year, had posted a profit of Rs 455.68 crore in the same quarter a year ago, it said in a BSE filing.

SBI Cards and Payment Services Ltd posted a 1 per cent drop in its profit before tax (PBT) at Rs 528 crore in the quarter ended June 2020 (Q1FY21). The PBT was Rs 533 crore in quarter ended June 2019 (Q1FY20). The net profit for the period under review rose 13.8 per cent to Rs 393 crore from Rs 346 crore in Q1FY20. 

Future Retail: Lenders to Kishore Biyani-led Future Retail (FRL) are considering converting part of its debt into equity before a possible sale to a rival. The final decision on the debt restructuring of the company could be taken within a month, as the company will be unable to service its debt once the moratorium on loan repayment ends in August-end, according to this report


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