Stocks to watch: RIL, SBI, L&T, DLF, Bharti Airtel, RITES, HCL Tech, SRF

Realty major DLF on Thursday reported a consolidated net loss of Rs 1,857.76 crore in the fourth quarter of last fiscal year
At 08:43 AM, Nifty futures on the Singapore Exchange (SGX) were trading 46.75 points or 0.47 per cent higher at 10,061.80, indicating a positive start for the Indian market on Friday.

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

RIL: Reliance Industries Ltd has said that Abu Dhabi state fund Mubadala Investment Co will buy a 1.85 per cent stake in its digital unit, Jio Platforms, for Rs 9,093.6 crore. READ MORE

Bharti Airtel: Amazon.com is in early-stage talks to buy a stake worth at least $2 billion in mobile operator Bharti Airtel, three people with knowledge of the discussions told Reuters, in a move that could turbocharge India's digital economy. However, the telecom major, issued a statement this morning saying that the "company routinely works with all digital and OTT players and has deep engagement with them to bring their products, content and services for our wide customer base. Beyond that, there is, at this stage, no such proposal in consideration. CLICK TO READ PRESS RELEASE

SBI: India’s largest public sector bank, State Bank of India (SBI), is scheduled to report its March 2020 quarter result (Q4FY20) on Friday, June 5. While analysts are positive on the bank’s net profit, which they expect to jump on a year-on-year (YoY) basis, loan growth is seen logging a tepid growth. READ MORE

 
L&T: Engineering and construction conglomerate, Larsen & Toubro (L&T), is expected to report muted numbers for the quarter ended March 2020 due to project delays and a slowdown in execution owing to Covid-19 lockdown, analysts say. READ MORE

 
Other earnings: Besides SBI and L&T, 30 other companies are slated to relase their March quarter results later in the day. The list includes names such as Exide Industries, Infibeam Avenues, Jyothy Labs, and Saregama India. 

RITES: RITES Ltd on Thursday said its subsidiary REMCL has secured its largest mandate from Indian Railways for tendering, installation, supervision and managing power supply from three GW solar energy plants, which will be set up on vacant Indian Railways' land. The project will be divided into three phases of one gigawatt (GW) each and the entire installation is expected to be completed by 2022-23.

NIIT: In an exchange filing, the company informed that the company's business across the geographies has been impacted due to Covid-19 pandemic. Also, there was a rapid response from the management team through NIIT Digital, which resulted in partly countering the above impact. 

DLF: Realty major DLF on Thursday reported a consolidated net loss of Rs 1,857.76 crore in the fourth quarter of last fiscal year, mainly due to reversal of deferred tax assets (DTA) as it adopted a lower tax rate. It had posted a net profit of Rs 436.56 crore in the year-ago period, the company said in a regulatory filing.

HCL Tech: HCL Technologies on Thursday said it has partnered with Google Cloud to expand its software offerings, starting with HCL Commerce, to Google Cloud. Google Cloud will be the preferred cloud platform for HCL Commerce, providing global, secure and elastic infrastructure to power businesses' e-commerce strategies, a statement said.

Net profit of SRF declined 2.69 per cent to Rs 185.75 crore in the quarter ended March 2020 as against Rs 190.89 crore in the year-ago period. 



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