Stocks in focus on July 27, 2020

Here are Stocks in focus on July 27, 2020

Stocks in focus on July 27, 2020

New Delhi: After a volatile session, markets ended lower on Friday amidst negative global cues.

The BSE Sensex closed 11.57 points or 0.03 percent lower at 38,128.90. Similarly, the NSE Nifty closed 21.30 points or 0.19 percent lower at 11,194.15.

Here are Stocks in focus on July 27, 2020

Mindspace Business Parks REIT

Mindspace Business Parks REIT, owned by K Raheja group and Blackstone public issue will hit the capital market on July 27. It has raised Rs 1,518.74 crore from anchor investors ahead of its public issue. Mindspace has proposed to raise up to Rs 4,500 crore from the public issue, which will close on July 29. The company, which is launching India's second Real Estate Investment Trust (REIT), had earlier announced raising Rs 1,125 crore from strategic investors.

ICICI Bank 

ICICI Bank on Saturday reported 24 per cent growth in its June quarter consolidated profit at Rs 3,118 crore even as it set aside Rs 5,550 crore for possible reverses on account of the COVID-19 pandemic. On a standalone basis, the profit after tax of the second largest private sector lender by assets rose by 36 per cent to Rs 2,599 crore. Gains of over Rs 3,000 crore on stake sale in life and general insurance arms was the major factor which helped the bottomline. The proportion of borrowers availing the repayment moratorium has fallen to 17.5 per cent by value as of June 30, as against 30 per cent in April, and 90 per cent of those included right now have opted for both the first and second moratoriums.

ITC

Diversified group ITC Ltd on Friday reported a 25.30 per cent fall in its consolidated profit after tax at Rs 2,567.07 crore for the first quarter ended June 30, hit by disruption in operations due to the coronavirus-induced lockdown. The company had posted a consolidated profit after tax of Rs 3,436.51 crore in the corresponding quarter of the previous financial year, ITC Ltd said in a regulatory filing.

Ambuja Cements 

Ambuja Cements on Friday reported 28.76 per cent decline in consolidated net profit to Rs 592.51 crore for the second quarter ended June 30, on account of COVID-19 related disruptions.
The company, which follows January-December financial year, had clocked a net profit of Rs 831.75 crore a year ago, Ambuja Cements said in a BSE filing.

Adani Power 

Adani Power on Friday said it has received shareholders' approval for its Rs 3,264-crore delisting proposal. Last month, Adani Power had issued a notice for voluntary delisting of equity shares of the company from BSE Limited and National Stock Exchange of India Limited. "...(delisting) resolution as set out in the notice has been passed with the requisite majority on July 23, 2020, being the last date specified for remote e-voting," a regulatory filing stated.
The board of Adani Power had approved the proposal to delist company shares from stock exchanges last month.