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Stocks in focus on July 16, 2020

Here are stocks in focus on July 15, 2020

Stocks in focus on July 16, 2020

New Delhi: Markets pared nearly all gains but ended marginally higher on Wednesday. BSE IT, teck, FMCG, healthcare, metal and auto indices ended up to 4.89 per cent higher, while telecom, energy, oil and gas and realty indices lost up to 3.63 percent.

Sensex closed 18.75 points or 0.05 percent higher at 36,051.81 while the NSE Nifty finished 10.85 points or 0.10 percent higher at 10,618.20.

Here are stocks in focus on July 15, 2020

Infosys

The country's second-largest IT services major Infosys on Wednesday reported a 12.4 per cent rise in consolidated net profit to Rs 4,272 crore for June 2020 quarter. The company had posted a net profit (before minority interest) of Rs 3,802 crore in the year-ago period, Infosys said in a BSE filing.

L&T Infotech

Larsen & Toubro's Infotech arm LTI on Wednesday posted a 17.06 per cent growth in its June quarter net profit at Rs 416.4 crore but acknowledged that it is a challenging time for the industry at present.
When compared to the previous quarter, the profit declined 2.59 per cent as conditions became tough.

Banking stocks

Appreciating the decision of Indian banks to raise fresh capital, S&P Global Ratings on Tuesday said the move will provide stability to the institutions during these rocky times and help them withstand the economic slump amid the COVID-19 pandemic. Indian banks that have expressed an intention to raise equity include ICICI Bank (Rs 15,000 crore), Axis Bank (Rs 15,000 crore), Yes Bank (Rs 15,000 crore), State Bank of India (Rs 20,000 crore), Bank of Baroda (Rs 9,000 crore), and Punjab National Bank (Rs 7,000 crore), said S&P.

Sugar companies

A group of ministers, headed by Home Minister Amit Shah, on Wednesday recommended increasing the minimum selling price (MSP) of sugar by Rs 2 to 33 per kg to ensure mills clear the pending cane arrears of around Rs 20,000 crore at the earliest, news report said.