The Indian market is likely to open on a cautious note Thursday following amid mixed global cues. At 8:00 am, the SGX Nifty was trading 2.75 points or 0.02 percent lower at 11,123.20, indicating a flat start for the Sensex and Nifty50.
Here are the top 10 buzzing stocks for today:
1. Larsen & Toubro: The company’s net profit in Q1FY21 declined 79.4 percent to Rs 303 crore from Rs 1,472.6 crore while revenue fell 28.3 percent to Rs 21,260 crore from Rs 29,636 crore, YoY. EBITDA witnessed a decline of 47.2 percent to Rs 1,620.5 and operating margins saw a fall of 270 bps to 7.6 percent, YoY. L&T’s order inflow fell 39 percent YoY to Rs 23,574 crore.
2. Axis Bank: Naveen Tahilyani, Group Executive & Head, Banking Operations & Transformation of Axis Bank will be stepping down in the month of November to pursue opportunities outside the Bank.
3. Vodafone Idea: The Supreme Court dismissed a plea by the Income Tax Department challenging a Bombay High Court order directing refund of Rs 833 crore and upheld Vodafone’s claims for refund of Rs 833 crore for the assessment year 2014-15.
4. Glenmark Pharmaceuticals: The company has announced that Phase 3 clinical trial of Favipiravir demonstrated statistically significant faster time to clinical improvement with Favipiravir treatment in mild to moderate COVID-19 patients compared to control.
5. Bajaj Auto: The company said that due to COVID-19 pandemic, all manufacturing operations came to a near standstill for a period ranging from 28 to 43 days between March and May. It is now able to ramp-up production to almost 70 percent of normal levels. However, things are far from normal as this is an unstable recovery due to sporadic local shutdowns in various parts of the country impacting both, demand as well as supply chain, the company said.
6. Infosys: The company has launched ‘Reskill and Restart’, a digital solution to reskill the American workforce and fulfill employment needs following COVID-19
7. Future Retail: The company has missed the payment due to dollar bonds due to the stressed liquidity position. The terms of issuance of the USD Notes provide for an additional period of 30 days for payment of interest from the due date, in case the same could not have been paid on the original due date, it said.
8. ICICI Securities: The company reported a 70 percent jump in Q1FY21 net profit to Rs 193 crore from Rs 114 crore while revenue rose 36 percent to Rs 546 crore from Rs 402 crore, YoY.
9. Rallis India: The company reported Q1FY21 profit at Rs 91.9 crore versus Rs 60.4 crore, revenue at Rs 662.7 crore versus Rs 623.2 crore, YoY.
10. Heidelberg Cement: The company’s Q1FY21 net profit fell to Rs 48.9 crore from Rs 79 crore while revenue fell to Rs 407.7 crore from Rs 589.2 crore, YoY.