CNBC-TV18's top stocks to watch out for on April 7

SUMMARY

The Indian market is likely to open higher on Tuesday tracking gains in global peers. However, concerns over extension of natiowide lockdown due to rising coronavirus infected cases in the country may dent sentiment. At 6:55 am, the SGX Nifty was trading 40.50 points or 0.48 percent higher at 8,502.25, indicating a positive start for the Sensex and Nifty50.

By CNBC-TV18Apr 7, 2020 7:16:41 AM IST (Published)

ICICI Bank: Moody's Investors Service has revised the outlook on the bank to 'Negative' from 'Stable'. Moody's has affirmed the bank’s deposit ratings at Baa3, also affirmed baseline credit assessment and adjusted BCA at ba1, but lowered counterparty risk assessment from Baa2(cr)/P-2(cr) to Baa3(cr)/P-3(cr).

HDFC Bank: The bank’s advances as of March 31, 2020 rose 21 percent YoY to Rs 9.93 lakh crore and deposits saw a growth of 24 percent YoY to Rs 11.46 lakh crore.

Axis Bank: Moody's has revised the outlook for the bank from 'Stable' to 'Negative' and downgraded the counterparty risk assessments to Baa3(cr)/P-3(cr) from Baa2(cr)/P-2(cr) and the local currency counterparty risk rating to Baa3/P-3 from Baa2/P-2.

Housing Development Finance Corporation (HDFC): In Q4FY20, the mortgage lender assigned loans amounting to Rs 5,479 crore as compared to Rs 2,418 crore, YoY.

Kotak Mahindra Bank: The lender's deposits in Q4FY20 rose 16.4 percent YoY to Rs 262,900 crore and advances increased 6.7 percent YoY to Rs 219,500 crore as of March 31, 2020.

AU Small Finance Bank: The bank’s deposits in Q4FY20 rose 34.7 percent YoY to Rs 26,163 crore. CASA ratio declined to 16 percent versus 21 percent YoY. Gross NPA was at 1.9 percent versus 1.88 percent QoQ, while net NPA fell to 0.97 percent versus 1.01 percent QoQ.

Mahindra & Mahindra (M&M): The auto major will not inject any fresh equity into SsangYong Motor Company (SYMC) and has urged it to find alternate sources of funding. However, M&M’s management may consider a special one-time infusion of up to 40 billion KRW in the SYMC over the next three months.

Raymond Ltd: Foreign Portfolio Investors (FPIs) have increased their shareholding in the company to 10.83 percent in the March quarter, from 10.67 percent in the December quarter. (Stock Image)

Dhampur Sugar Mills: The company has started production of hand sanitizers at its Asmoli unit in Sambhal.

IDBI Bank: The board members of the bank will meet on April 8 to consider proposal of rupee bond borrowings limit of Rs 7,500 crore for FY21. (Stock Image)

IndusInd Bank: India Ratings affirmed long-term issuer rating of the bank at AA+ with revised outlook to 'Negative' from 'Stable'. Moody's has placed bank’s domestic and foreign currency issuer ratings of Baa3/P-3 under review for downgrade.

Bank of Maharashtra: The state-run lender will reduce its repo linked lending rate (RLLR) by 75 basis points from April 7. It will also reduce its marginal cost of funds based lending rates (MCLR) across all tenors up to 25 basis points to 8 percent from April 7.

Sobha Ltd: The real estate developer reported 22 percent year on year fall in sales at Rs 554 crore in Q4FY20.

Century Textiles: The company has started operating factory in limited manner to cater to essential services. It has commenced operations in Nainital, Baddi, Sonepat of paper and packaging divisions.

Vedanta: Rating agency CRISIL has reaffirmed company’s ratings at AA but revised outlook to 'Negative' from 'Stable'.

Force Motors: The company’s sales in March dropped to 877 vehicles against 2,117 units in February while production fell to 1,198 units against 1,864 units, MoM.