Stocks to watch: ITC, Sun Pharma, Grasim, Power Grid, ACC, aviation stocks

Nifty futures on the Singapore Exchange traded 22 points down at 15,175 around 8.30 am, indicating a weak start for benchmark indices on Friday.

Here are the top stocks that are likely to be in focus today:

IndiGo, Spicejet: Airline stocks will be in focus today after the government increased the upper and lower cap on airfare by up to 30 per cent in a move that’s expected to push up tariffs and improve the financials of airlines hit hard by the pandemic. However, the cap on airline capacity, currently at 80 per cent of the pre-Covid level, has been extended till March 31. READ MORE

Q3 earnings: Grasim Industries, Dilip Buildcon, Inox Wind, Godrej Industries, Hindustan Aeronautics, Indiabulls Housing Finance and Sobha are among over 950 companies that are set to post their quarterly numbers today.

ITC: Cigarette-to-hotel conglomerate ITC reported a consolidated net profit of Rs 3,587 crore for the quarter ended December 31, down 11 per cent from Rs 4050.40 crore clocked in the corresponding quarter a year earlier. ITC's board declared an interim dividend of Rs 5 per share for the current financial year. READ MORE

Sun Pharma: The pharma company and its senior officials, including Managing Director Dilip Shanghvi, on Thursday, settled with regulator Sebi a case pertaining to an alleged violation of listing obligation and disclosure requirements norms.

Thomas Cook: Markets regulator Sebi on Thursday allowed Thomas Cook (India) to withdraw its buyback offer because of substantial deterioration in the company's financial position due to the Covid–19 pandemic.

Ashok Leyland: The company on Thursday reported a net loss of Rs 19 crore for the third quarter ended December 31, 2020. The company had reported a net profit of Rs 28 crore in the October-December quarter of 2019-20.

NHPC: The firm reported a 50 per cent rise in its consolidated net profit to Rs 961.64 crore for the December quarter. The total income rose to Rs 2,610.69 crore in the quarter from Rs 2,279.45 crore in the same period a year ago.

Power Grid: The company, on Thursday, posted a 26 per cent YoY rise in consolidated net profit at Rs 3,367.71 crore for December quarter 2020-21 mainly on the back of higher revenues. Total income rose to Rs 10,359.48 crore.

Infosys: The company said it will invest an additional $1 million (about Rs 7.2 crore) in ideaForge Technology, a UAV systems manufacturing company. With this Infosys' cumulative investment will rise to $2.5 million.

ACC: Cement maker ACC reported a 72.88 per cent YoY jump in consolidated net profit to Rs 472.44 crore for the fourth quarter ended December 31. Its total revenue from operations in October-December 2020 rose 2.08 per cent YoY to Rs 4,144.72 crore.

Prestige Estates: Prestige Estates Projects reported a 59 per cent YoY fall in consolidated net profit at Rs 87.8 crore for the quarter ended December. Its net profit stood at Rs 216.4 crore in the year-ago period.

Jaypee Infratech: The company, on Thursday, reported a consolidated net loss of Rs 472.36 crore for the quarter ended in December. Its net loss stood at Rs 426.95 crore in the corresponding period of the previous year.

Piramal Enterprises: The firm's Q3 net rose 10.38 per cent YoY to Rs 799.39 crore in the December 2020 quarter from Rs 724.19 crore in the year-ago period.

Vedanta: The company board has approved issuance of upto 5,000 secured NCDs of face value Rs 10 lakh each aggregating up to Rs 500 crore on a private placement basis. 

APL Apollo Tubes: Ratings agency CRISIL revised rating for APL Apollo's long-term bank facilities to AA from AA-, with stable outlook.

RITES: The company received major order for general consultancy work from Haryana Rail Infrastructure Development Corporation for Rs 61 crore.


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