CNBC-TV18's top stocks to watch out for on July 1

SUMMARY

The Indian market is likely to open lower Wednesday following mixed trend in Asian peers. At 8:00 am, the SGX Nifty was trading 23.50 points or 0.23 percent lower at 10,235.00, indicating a negative start for the Sensex and Nifty50.

By CNBC-TV18Jul 1, 2020 8:02:44 AM IST (Updated)

Bharti Airtel: The Carlyle Group will invest $235 million for approximately 25 percent stake in Nxtra Data Ltd, a wholly-owned subsidiary of Bharti Airtel engaged in the data centre business. The post-money enterprise valuation of Nxtra is approximately $1.2 billion.

Vodafone Idea: The company’s pre-tax loss in Q4FY20 rose 73 percent to Rs 11,742 crore while revenue remained flat at Rs 11,754.2 crore, YoY.

ONGC: The company reported a standalone net loss of Rs 3,098.26 crore in Q4FY20 impacted by an impairment on the slump in oil and gas prices. The company had reported a profit of Rs 4,239.50 crore in Q4FY19 and Rs 4,226.45 crore in Q3FY20. Revenue from operations during the quarter declined 19.8 percent year-on-year to Rs 21,456.2 crore, while the quarter-on-quarter fall was 9.5 percent.

Jindal Steel & Power Ltd: The company will sell its entire stake in Oman subsidiary, Jindal Shadeed Iron and Steel Co LLC, for an enterprise value of $1 billion. The divestment is in line with JSPL’s vision to bring down its debt and deleverage its balance sheet.

Union Bank of India: The government has granted the bank’s managing director and chief executive officer Rajkiran Rai a two-year extension amid the bank’s ongoing merger exercise.

RITES: The company reported Q4FY20 profit at Rs 139.01 crore versus Rs 145.20 crore while revenue at Rs 570.70 crore versus Rs 737.26 crore, YoY.

Gayatri Projects: The company has reported Q4FY20 loss at Rs 80.98 crore as against a profit of Rs 84 crore while revenue at Rs 910.2 crore versus Rs 1,151.13 crore, YoY.

Ahluwalia Contracts (India): The company’s Q4FY20 net profit fell to Rs 6.1 crore from Rs 31 crore while revenue rose to Rs 549.2 crore from Rs 480.15 crore, YoY.

GMM Pfaudler: The company has entered into a binding term sheet with De Dietrich Process Systems India for itemised sale of the manufacturing facility at Hyderabad.

Bharat Bijlee: The company’s net profit in Q4FY20 rose to Rs 14.17 crore from Rs 9.63 crore while revenue fell to Rs 260.08 crore from Rs 273.05 crore, YoY.

Q4FY20 Earnings: Eveready Industries, Premium Capital Market, Intense Technologies, Continental Controls, among others.