Stocks to watch: L&T, Rossari Biotech, Biocon, Voda Idea, Future Retail

Rossari Biotech will get listed at the bourses today.
At 08:47 am, Nifty futures on the Singapore Exchange (SGX) were trading 6.7 points or 0.06 per cent lower at 11,119.30, indicating a flat start for the domestic market on Thursday.  

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

L&T: Larsen & Toubro (L&T) saw its profit before tax (PBT) crash 66 per cent year-on-year in the April to June 2020 quarter (Q1), hurt by the lockdown. The management refused to provide any guidance. However, executives indicated a revenue ramp-up would take a couple of quarters more.

Rossari Biotech will get listed at the bourses today. The public issue, which was opened for subscription between July 13 and July 15, saw a massive subscription of 79.37 times backed by QIB and non-institutional investors.

Earnings today: Today, a total of 49 companies including Biocon, Dish TV, and HDFC AMC, are scheduled to announce their quarterly results today.

Vodafone Idea: In a relief to Vodafone Idea, the Supreme Court (SC) on Wednesday dismissed the petition filed by the finance ministry against the Bombay high court order that had directed the revenue department to refund Rs 833 crore to the cash-strapped telecom company.

Future Retail: S&P Global Ratings warned on Wednesday that it would downgrade Future Retail to default category because the company faced liquidity pressure, depressed operating cash flow and delays in disbursement of credit lines from banks.

Wipro: The IT major on Thursday announced it will launch its 5G edge services solutions suite. The solutions suite to be provided by Wipro is built with IBM TRIRIGA and IBM Edge Application Manager. Wipro will engage with clients to implement the Universal Edge solutions suite that leverages 5G network capabilities.

ICICI Securities: The company announced its revenue grew 36 per cent YoY to Rs 546 crore while profit after tax (PAT) is seen at Rs 193 crore, up 70 per cent YoY.

Rallis India: Rallis India, a subsidiary of Tata Chemicals, on Wednesday reported a 53 per cent growth in consolidated profit after tax (PAT) at Rs 92 crore during the first quarter of 2020-21. The company's PAT stood at Rs 60 crore in April-June quarter of 2019-20, Rallis India said in a statement.

Glenmark Pharma: The company on Wednesday announced top-line results from a Phase 3 clinical trial of Favipiravir in mild to moderate Covid-19 patients conducted across seven clinical sites in India. 

Axis Bank: Naveen Tahilyani, group head in-charge of transformation at Axis Bank, has quit within seven months, joining a string of senior executives who have left the private sector lender in the recent past, according to sources. 

Net profit of HeidelbergCement India declined 38.07 per cent to Rs 48.94 crore in the quarter ended June 2020 as against Rs 79.03 crore during the previous quarter ended June 2019. 


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