Stocks in focus on June 29, 2020

Here are Stocks in focus on June 29, 2020

Stocks in focus on June 29, 2020

New Delhi: Equity benchmark Sensex rallied 329 points on Friday, led by gains in Infosys, HDFC Bank, TCS amid positive cues from global markets.
The 30-share index settled 329.17 points, or 0.94 per cent, higher at 35,171.27, while the NSE Nifty surged 94.10 points, or 0.90 per cent, to 10,383.

Here are Stocks in focus on June 29, 2020

ITC

FMCG-to-hospitality major ITC on Friday reported a 9.28 per cent growth in its consolidated net profit for the January-March quarter at Rs 3,926.46 crore. During the same quarter of the previous fiscal, FY 2018-19, the company had reported a net profit of Rs 3,592.80 crore.

Glenmark Pharmaceuticals 

Glenmark Pharmaceuticals on Friday posted a 36.28 per cent increase in its consolidated net profit to Rs 220.3 crore for the fourth quarter ended March 31, 2020. The Mumbai-based drug firm had reported a net profit of Rs 161.66 crore for the corresponding period of 2018-19.

Axis Bank

S&P Global Ratings on Friday lowered its ratings on Axis Bank due to increased economic risks for banks operating in India. S&P also put Indian Bank ratings on 'Credit Watch' because it expects a high risk that the public sector bank's credit profile could weaken over the coming quarters due to COVID-19 as well as the merger with the weaker Allahabad Bank.

Coal India

State-run Coal India Ltd on Friday reported a 23 per cent decline in its consolidated net profit to Rs 4,625 crore in the January-March quarter of FY'20. The miner had posted a net profit of Rs 6,026 crore in the same quarter of the previous fiscal.

Nalco 
National Aluminium Co Ltd (Nalco) on Friday posted 57.1 per cent decline in consolidated net profit at Rs 100.51 crore for March quarter due to lower income. The state-owned company had a profit of Rs 234.82 crore in January-March 2018-19, Nalco said in a filing to BSE. Income during the quarter under review dropped to Rs 2,042.27