Stocks in focus on June 3, 2020

Here are the Stocks in focus on June 3, 2020

Stocks in focus on June 3, 2020

New Delhi: Markets ended in the green for second day on Tuesday led by rally in banking and financial stocks.

The BSE Sensex soared 522.01 points or 1.57 percent to close at 33,825.53. On the other hand, the NSE Nifty rose 152.95 points or 1.56 percent to finish at 9,979.10.

Here are the Stocks in focus on June 3, 2020

Lupin

The Drug maker on Tuesday said it has received approval from the US health regulator to market Meloxicam capsules, used to treat osteoarthritis pain, in the American market.

The company has received approval from the US Food and Drug Administration (USFDA) for meloxicam capsules in strength of 5 mg and 10 mg, Lupin Ltd said in a statement.

InterGlobe Aviation

InterGlobe Aviation on Tuesday reported a loss of Rs 870.8 crore in the three months ended March.

The parent of the country's largest airline IndiGo had a profit after tax of Rs 595.8 crore in the year-ago period.

In the latest March quarter, revenue from operations rose to Rs 8,299.1 crore.

ICICI Bank

The private sector lender has cut interest rate on saving deposits by 25 basis points (bps). It has cut interest rate on all deposits of less than Rs 50 lakh to 3 per cent, a reduction of by 25 bps as against the existing 3.25 per cent. Likewise, for deposits of Rs 50 lakh and above, the account holders will earn interest of 3.50 per cent, down from 3.75 per cent currently.

FMCG companies

Domestic ratings agency Crisil on Tuesday said it expects revenue of fast moving consumer goods sector (FMCG) companies to contract by 3 per cent in 2020-21 as against its earlier expectation of a 10 per cent growth.