Stocks in focus on July 13, 2020

Here are Stocks in focus on July 13, 2020

Stocks in focus on July 13, 2020

New Delhi: The Sensex and Nifty closed in the red on Friday, pressured by heavy selling in financial and banking stocks amid negative cues from Asian peers.

The 30-share BSE Sensex ended 143.36 points, or 0.39 per cent, lower at 36,594.33. The broader NSE Nifty shed 45.40 points, or 0.42 per cent, to close at 10,768.05.

Here are Stocks in focus on July 13, 2020

Biocon 

Biotechnology major Biocon on Saturday said it has received approval from the Drugs Controller General of India (DCGI) for use of its biologic drug Itolizumab for the treatment of moderate to severe COVID-19 patients. The company has received the DCGI approval to market Itolizumab injection 25mg/5mL solution for emergency use in India for the treatment of cytokine release syndrome in moderate to severe acute respiratory distress syndrome (ARDS) patients due to COVID-19, Biocon said in a BSE filing.

SAIL 

State-owned SAIL on Friday said its consolidated net profit jumped multi-fold to Rs 2,647.52 crore during the quarter ended March 31, helped by reduced expenses. The firm had posted a net profit of Rs 548.20 crore in the corresponding quarter of the previous financial year, the company said in a BSE filing. Its total income during the March 2020 quarter stood at Rs 16,574.71 crore, against Rs 18,719.29 crore in the year-ago period.
Total expenses during the quarter fell to Rs 11,682.12 crore as compared with Rs 17,964.25 crore a year ago.

D-Mart

Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, on Saturday reported an 87.59 per cent decline in consolidated net profit at Rs 40.08 crore for the June quarter, impacted by the COVID-19 crisis. The company had posted a net profit of Rs 323.06 crore in the April-June period a year ago, Avenue Supermarts said in a BSE filing. Revenue from operations dropped 33.21 per cent to Rs 3,883.18 crore during the quarter under review as against Rs 5,814.56 crore earlier.

Ircon International

Miniratna public sector enterprise Ircon International has clocked 27 per cent growth in its standalone profit after tax of Rs 122 crore in the fourth quarter ended March (Q4 FY20) against Rs 96 crore in the corresponding period of previous fiscal.The turnover increased to Rs 1,788 crore from Rs 1,533 crore in Q4 FY19 and total income moved up to Rs 1,831 crore as compared to Rs 1,606 crore, said the turnkey construction company.

Future Consumer Ltd

The company has reported consolidated net loss of Rs 175 crore in the January to March quarter as compared to a profit of Rs 7.75 crore in the same period of previous fiscal.The net profit margin came in at minus 18.51 per cent that declined by 19.26 per cent year-on-year.