Stocks to watch: Titan, Marico, IDBI Bank, HDFC Bank, Cipla, Future Group

IDBI Bank on Wednesday said it has targeted to raise up to Rs 7,500 crore through rupee bond in the current fiscal.
At 08:42 am, Nifty futures on the Singapore Exchange (SGX) were trading 117 points or 1.34 per cent higher at 8,867.80, indicating a positive start for the Indian market on Thursday. 

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

Titan Co: With shopping malls shut and weddings postponed, Titan's jewellery revenue for the division declined by 5 per cent in the January-March period due to lost sales in March in spite of 16.5 per cent sales growth in the preceding months of January and February, according to a quarterly update by the company.

HDFC Bank: The private lender informed that the Reserve Bank of India (RBI) has asked the bank to wait until a new CEO is in place before promoting them to board level. On November 28, 2019, HDFC Bank had intimated the appointment of Mr Sashidhar Jagdishan and Mr Bhavesh Zaveri by the Board of Directors each as an Additional Director and Executive Director (Whole-Time Director) of the Bank. 

IDBI Bank: Private sector lender IDBI Bank on Wednesday said it has targeted to raise up to Rs 7,500 crore through rupee bond in the current fiscal.

Cipla: As per media reports, Cipla has received US Food and Drug Administration (USFDA) approval for the first generic Proventil HFA (albuterol sulfate) Metered Dose Inhaler, 90 mcg/Inhalation.

Gujarat Pipavav Ports: In its March quarter update, the company informed that it handled 197 Containers (000 TEUs) during the quarter as against 219 in the year-ago period. 

Future Group stocks: Future Group has picked UBS Group AG to lead the sale of its stake in an insurance joint venture with Italy’s Assicurazioni Generali SpA, according to Bloomberg. 

Marico: In its March quarter update, the company said early signs of improvement across categories seen until early March were more than offset by disruptions in the last 12 days, due to lockdowns in some states. With COVID-19 assuming the nature of a pandemic, the International businesses were also affected. Revenue decline (both in India and International business), coupled with an unfavourable mix in the India business, will translate into a modest decline in EBITDA in this quarter vs the corresponding quarter last year, the statement added. 

Astron Paper & Board Mill informed that it has received permission from Government of Gujarat (vide Collector of Bhuj, Gujarat) regarding commencement of Unit-2 located at Bhuj, Gujarat.

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel