Top 15 stocks in focus today: ITC, Maruti Suzuki, Spicejet
Maruti Suzuki: Maruti Suzuki said that it will inspect suspected fault in 20,427 S-Cross vehicle, as per reports. The automobile firm will suspect fault and replace brake part in 20,427 units of S-Cross.
ITC Ltd: ITC will be setting up eight new integrated food processing units by 2019, with investments of over INR 4,000 crore, reports a business daily. The company will announce its Q4 results today. As per IIFL’s forecast, the company is expected to register a net revenue of Rs.10,540 crore, growing at 14.9% qoq and 13.4% yoy.
Indian Hotels: Indian Hotels is committed to returning to profitability by the end of FY17, CEO Rakesh Sarna has been quoted as saying.
Castrol India: UK's BP has trimmed its stake in Castrol India after it sold 11.5% stake in the lubricant firm for about Rs.2,075 crore.
Brigade Enterprises: The company is set to launch large commercial real estate projects spread over six million square feet during the fiscal year 2016-17, reports a financial newspaper.
Britannia: Britannia, one of the leading fast moving consumer goods companies in the country, will announce its Q4 results today. As per IIFL’s forecast, the company is expected to register a net revenue of Rs.2,340 crore, growing at 4.4% qoq and 13.4% yoy.
Spicejet: SpiceJet posted a quarterly profit of Rs.73.2 crore in the fourth quarter of 2015-16 on higher operational income.During the March quarter of 2015-16, the airline’s operational income rose to Rs.1,474 crore from Rs.790 crore in the same period previous year.
Future Consumer Enterprise Ltd: The company reported a consolidated net loss of Rs.25.82 crore for the fourth quarter ended on March 31, 2016.
HDFC Bank: The bank said it will seek shareholders' approval to hike the authorised share capital of the bank to Rs.650 crore. The proposal came as one of the outcomes of the board meeting of the bank held on Thursday.
Axis Bank: Life Insurance Corporation (LIC) of India is beginning to exploit its ownership to expand its own business which is becoming intensely competitive. The state-run insurer is nudging the Axis bank to sell insurance policies offered by it through its more than 2,500 branches, testing its existing partnership with Max Life, according to reports.
Gujarat State Petronet: Gujarat State Petronet Ltd posted a net profit of Rs.997.089 million for the quarter ended March 31, 2016 compared with Rs.670.981 million for the quarter ended March 31, 2015.
Sobha: Sobha Ltd has announced that the Board of Directors of the Company has approved a proposal to buyback up to 2,275,000 Equity Shares of the Company for an aggregate amount not exceeding Rs. 750,750,000.
Karnataka Bank: The bank will announce its Q4 numbers today. IIFL estimates the bank’s net profit to fall to Rs.100 crore, at a rate of 25% yoy; however, the same is likely to surge 3% qoq.
Pidilite Industries: The company reported a 48.97% increase in standalone net profit at Rs 115.04 crore for the March quarter.
Dishman Pharmaceuticals: The company reported a 29.29% increase in consolidated net profit at Rs 49.92 crore for the March quarter.