Stocks to watch: Telcos, banks, IGL, Pidilite Ind, Muthoot Finance, Thermax

At 08:51 am, Nifty futures on the Singapore Exchange (SGX) were trading 31.65 points or 0.32 per cent lower at 9,818.50, indicating a tepid start for the Indian market on Thursday.

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

Bharti Airtel, Vodafone Idea, banks: Telecom players, Bharti Airtel and Vodafone Idea, are expected to trade actively today as the Supreme Court is scheduled to hear the adjusted gross revenue (AGR) case later in the day. Banking counters may also remain in focus.

MTNL: The Department of Telecommunications is learnt to have directed state-owned Bharat Sanchar Nigam (BSNL) and Mahanagar Telephone Nigam (MTNL) to exclude Chinese gearmakers from supplying 4G telecom equipment. Private telecom operators have been asked to consider staying away from such Chinese firms.

Indraprastha Gas: Indraprastha Gas Ltd (IGL), the largest CNG distribution company of the country, on Wednesday reported a 12 per cent rise in March quarter net profit on the back of higher gas sales.

Net profit of Rs 252.63 crore in January-March compared with Rs 224.72 crore in the same period a year back, the company said in a statement.

Muthoot Finance: Muthoot Finance Ltd (MFIN) on Wednesday reported a 52.4 percent jump in consolidated net profit at Rs 835.78 crore in the last quarter of the fiscal ended March 2020 due to higher demand for gold loans.

Earnings today: Around 57 companies, including Thermax, Brigade Enterprises, MOIL, Gujarat Alkalies and Chemicals, and Bajaj Consumer Care are slated to report their March quarter earnings today.

Pidilite Industries: Net profit of the company declined 33 per cent to Rs 157.53 crore in the quarter ended March 2020 as against Rs 235.14 crore in the corresponding quarter of the previous fiscal. Sales declined 5.77 per cent to Rs 1544.68 crore in the quarter under review.

J K Cement reported 19.03 per cent rise in consolidated net profit to Rs 164.13 crore for the quarter ended March 31, 2020. HEG: Net loss of HEG reported to Rs 376.96 crore in the quarter ended March 2020 as against net profit of Rs 482.28 crore during the previous quarter ended March 2019. Sales declined 72.19 per cent to Rs 374.44 crore. Cummins India: Cummins India on Wednesday posted around 9 per cent increase in its consolidated net profit to Rs 170.24 crore in the March quarter compared to the same period last year.

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