Tue. Sep 22nd, 2020

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Vodafone Idea, Yes Bank, HPCL, Jubilant FoodWorks, Lupin, IHCL- stocks on focus

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Vodafone Idea: The telecom operator on Thursday reported widening of net loss to 25,460 crore in the June quarter after it made additional provisioning to pay AGR related dues. Vodafone Idea had posted a net loss of 4,874 crore in April-June 2019 and 11,643.5 crore in the preceding March quarter.

Yes Bank: LIC has acquired close to 5% shareholding in the Yes Bank. With the fresh acquisition, the hold of LIC has increased to 4.98% from 0.75%. LIC purchased 105.98 crore shares, reflecting 4.23% stake in the private sector lender.

HPCL: State-run refiner and marketer Hindustan Petroleum Corp Ltd. (HPCL) reported a 157% jump in its June quarter net profit.Consolidated profit of 2,252.65 crore, or 14.78 per share, was 156.7% higher than 877.48 crore, or 5.76 a share, earning in the same period a year back.

Jubilant Food Works: The food services company, which operates Domino’s Pizza and Dunkin’ Donuts outlets in India, has announced its entry in the FMCG segment with the launch of ‘ChefBoss’ — a range of ready-to-cook sauces, gravies and pastes.

IHCL: Indian Hotels Company Ltd (IHCL) reported a consolidated net loss of 312.60 crore for the quarter ended June 30, 2020 impacted by the covid-19 pandemic. The company had posted a net profit of 4.98 crore during the same period in previous fiscal.

Lupin: The pharma company’s US-based subsidiary has inked a pact with ForDoz Pharma Corp regarding two complex injectable products that are in advanced stages of development. As per the agreement, Lupin gets the exclusive rights to market and distribute the products in the US and its territories.

Wipro: IT services major Wipro has partnered Intel to enable its LIVE Workspace solution with the latter’s vPro platform that will help customers drive business continuity by enabling remote IT support and solutions.

GOCL Corp: Hinduja Group firm GOCL Corp Ltd has agreed to acquire APDL Estate Ltd for 62 crore from Hinduja Realty Ventures Ltd. APDL Estate Ltd is in the business of the development of commercial spaces and other real estate projects.

JK Tyre & Industries: The company reported a consolidated net loss of 204.17 crore in the first quarter ended June 30, hit by lower sales due to coronavirus pandemic. JK Tyre had posted a net profit of 16.12 crore in April-June period of previous fiscal.

Welspun Corp: The board of directors of the company has given its approval for listing of its joint venture Welspun Middle East Pipes Ltd (WMEPL) at the local Stock Exchange of Saudi Arabia. The process of listing would involve divestment of 15% (at maximum) of the total issued shares of WMEPL, held by Welspun Corp Ltd through its overseas subsidiary, at a pro-rata consideration exceeding $30 million, along with proportionate shares to be divested by the local partners.


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