NEW DELHI : Here’s a list of stocks that may be in news on Friday:
Axis Bank: Max Financial Services and Axis Bank will make changes to certain options that were agreed upon earlier this year for the lender to hike stake in Max Life Insurance, following a correspondence from regulator Irdai, according to a regulatory filing.
AU Small Finance Bank: The lender reported a 6% rise in its net profit at ₹201 crore in the April-June quarter of the current fiscal year. The bank had posted a net profit of ₹190 crore in the corresponding quarter a year ago.
Biocon: The company’s Q1FY21 consolidated revenue grew 14% to ₹1,690 crore from ₹1,483 crore in Q1FY20. Biocon’s net profit in June quarter stood at ₹149 crore versus ₹206 crore in the same quarter of the preceding fiscal.
Lupin: The company has received tentative nod from the US health regulator to market generic Empagliflozin and Linagliptin tablets, used as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes.
Sun Pharma: Taro Pharmaceuticals Ltd, a subsidiary of Sun Pharma, has resolved all cases involving the company in connection with the multi-year investigations by the Department of Justice, Antitrust Division and Civil Division into the US generic pharmaceutical industry.
ABB India: Engineering firm ABB India reported about 76% decline in net profit at ₹16.75 crore for the June quarter, mainly due to lower revenues. The company's net profit stood at ₹69.74 crore in the quarter ended June 30, 2019, it said in a regulatory filing.
HPCL: The company’s sales dropped 48.5% y-o-y in April 2020 due to significant fall in the demand during the nationwide lockdown, it said while disclosing the impact of covid-19 on business. With the relaxations announced by government related to movement of people, goods and services, the demand for petroleum products gradually improved. Sales of petroleum products in May 2020 was about 77% compared to May 2019 and sales in June 2020 was about 91% as compared to June 2019, it added.
Wipro: IT major Wipro will acquire 4C, one of the largest Salesforce partners in the UK, Europe and Middle East, for 68 million euros (about ₹589 crore).
Bank of Maharashtra: State-owned Bank of Maharashtra reported 24.69% jump in net profit at ₹101 crore for June quarter 2020-21 helped by healthy interest income and lower operating cost. The lender had reported a profit after tax of ₹81 crore in the year-ago same quarter and ₹58 crore in the quarter ended March 31, 2020.
Can Fin Homes: The housing finance arm of Canara Bank, on Thursday said its board has approved plan to raise up to ₹5,000 crore. The bank will raise up to ₹4,000 crore via issuance of redeemable, secured or unsecured non-convertible debentures or bonds. The board also approved further issue of shares/specified securities through rights/qualified institutions placement and/or preferential allotment basis or any other mode for an amount not exceeding ₹1,000 crore.
