Stocks to watch: RIL, SBI, Indiabulls Housing Fin, ICICI Lombard, IRB Infra

IRB Infrastructure Developers, LIC Housing Finance, and Nocil are among the 53 companies scheduled to report their quarterly earnings today.
At 8:50 am, SGX Nifty, the Singaporean Exchange for Nifty Futures, was at 11,412.5 level, up 36.5 points or 0,32 per cent, indicating a positive start for the markets.

Here is the list of stocks that may see trading action today:

SBI, BoB: As many as five large banks, including SBI, PNB and BoB, are likely to sell shares to institutional investors in the second half of this fiscal as they look to shore up their capital base amid the coronavirus pandemic impacting the economy. READ MORE

Reliance Industries: The company concluded amalgamation and merger amongst its wholly-owned subsidiaries -- Reliance Holdings USA with and into Reliance Energy Generation and Distribution. Merged entity - Reliance Energy Generation and Distribution has further merged into Reliance Industries, the company said in an exchange filing. READ HERE

Adani Group stocks: Gautam Adani-led Adani Group is set to acquire a 74 per cent stake in Mumbai International Airport (MIAL), which operates the country’s second-largest airport, with the current operator settling its disputes with its minority partner and exiting the venture. With six airports already under its belt, this will make the group the largest private airport operator after GMR Group, which operates Delhi and Hyderabad airports. READ MORE

Earnings today: IRB Infrastructure Developers, LIC Housing Finance, and Nocil are among the 53 companies scheduled to report their quarterly earnings today.

ICICI Lombard General Insurance Co. Ltd. will acquire Bharti AXA General Insurance Co. Ltd.’s non-life insurance operations in a share swap deal, according to a company statement issued on Saturday. Shareholders of Bharti AXA will receive two shares of ICICI Lombard for every 115 shares of Bharti AXA, as per the share exchange ratio recommended by independent valuers.

Media stocks: The Centre on Sunday announced standard operating procedures (SOPs) for resuming shooting of films and TV programmes, and these include measures such as social distancing and mandatory use of face cover or masks for cast and crew, except for actors in front of camera.

PNB: Punjab National Bank on Friday reported standalone net profit of Rs 308.45 crore for the quarter ended June 2020 as against Rs 1,018.63 crore logged in the year ago period. Provisions for bad loans more than doubled to Rs 4,836.40 crore from Rs 2,147.13 crore.

Indiabulls Housing Finance reports profit at Rs 272.8 crore for Q1FY21, down from Rs 790 crore in the year ago period. Revenue came in at Rs 2,574.6 crore compared to Rs 3,885 crore YoY.

Rossari Biotech's Q1Fy21 profit increased to Rs 15.5 crore from Rs 14.16 crore reported in the year-ago period. Revenue came in at Rs 109.5 crore, down from Rs 127.8 crore YoY. 

Godfrey Phillips reported profit of Rs 55.10 crore for the June quarter of FY21 as against Rs 118.65 crore. It's revenue stood at Rs 462.57 crore, down from Rs 841.30 crore YoY.

Minda Industries incurred loss of Rs 118.3 crore as against profit of Rs 53.5 crore, while revenue came in at Rs 417.1 crore, down sharply from Rs 1,439.7 crore YoY. The board has fixed the issue price at Rs 250 per equity share for its Rs 250-crore rights issue. The rights entitlement ratio has also been fixed at one fully paid-up equity shares for every 27 equity share held by eligible shareholders as on the record date -- August 17, it added.

Coffee Day Enterprises reported loss at Rs 140.64 crore for quarter ended December 2019, compared with profit of Rs 63.51 crore. Revenue came in at Rs 567.83 crore as against Rs 875.42 crore YoY.

Phoenix Mills closed its QIP issue on August 21. The issue price of Rs 605 per share is a 1.03 per cent discount to the floor price and a 13 per cent discount to Friday's closing price.

Future Enterprises: Brickwork Ratings and Infomerics Valuations revises credit rating on non-convertible bonds and commercial paper to BWR C and IVR A4 respectively on account of weakening of business and financial risk profile on account of an extended lockdown due to Covid-19.

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