Stocks to watch: RIL, ACC, Den Networks, Federal Bank, oil-linked stocks

Facebook Inc announced a $5.7 billion investment in Reliance Industries Ltd’s telecom unit on Wednesday
At 08:29 am, Nifty futures on the Singapore Exchange (SGX) were trading 43 points or 0.48 per cent lower at 8,928.50, indicating a tepid start for the Indian market on Wednesday. 

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

Reliance Industries (RIL): Facebook Inc announced a $5.7 billion investment in Reliance Industries Ltd’s telecom unit on Wednesday, making it the largest minority shareholder in Jio Platforms Limited. Facebook's investment will translate to a 9.99 per cent equity stake in Jio Platforms on a fully diluted basis, Jio said. 

ACC Ltd: Cement maker ACC Ltd on Tuesday reported 6.64 per cent decline in consolidated net profit at Rs 323.02 crore for the March quarter 2020, impacted by volume decline during the lockdown last month.

Oil-linked stocks: Oil prices found some respite on Wednesday as U.S. oil futures rose more than 20% and Brent prices steadied after a two-day price plunge, as markets struggle with a massive crude glut amid the coronavirus outbreak.

Crisil: Net profit of the company rose 14.98 per cent YoY to Rs 88.12 crore in the quarter ended March 2020. Sales rose 2.88 per cent to Rs 427.77 crore in the quarter under review. 

Den Networks: Cable and distribution and broadband service provider Den Networks on Tuesday reported a consolidated profit after tax of Rs 22.52 crore in the fourth quarter ended March 31.

GTPL Hathway: The company's net loss for the March quarter came in at Rs 13.63 crore as against net loss of Rs 27.68 crore. Sales rose 103.35 per cent to Rs 655.65 crore

Tejas Networks: Net loss of Tejas Networks for the March quarter stood at Rs 126.53 crore as against net profit of Rs 35.89 crore during the previous quarter ended March 2019.

Federal Bank: The bank on Tuesday said its Board has approved in principle purchase of additional stake of up to 4 per cent in the equity capital of IDBI Federal Life Insurance Co Ltd (IFLIC) from IDBI Bank.

HDFC AMC: HDFC Asset Management Company (AMC) has paid Rs 4 crore to the Securities and Exchange Board of India (Sebi) to settle the case pertaining to the fund house’s exposure to Essel group companies in its fixed maturity plans (FMPs).



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