CNBC-TV18's top stocks to watch out for on June 11

SUMMARY

The Indian market is likely to open lower Thursday on weak Asian peers after the dovish commentary from the US Federal Reserve. The Fed indicated that it would keep interest rates near zero through 2022. At 8:10 am, the SGX Nifty was trading 45.40 points or 0.45 percent lower at 10,097.00, indicating a negative start for the Sensex and Nifty50.

By CNBC-TV18Jun 11, 2020 8:15:15 AM IST (Updated)

Pharma stocks: Pharmaceutical companies such as Sun Pharmaceuticals, Lupin, Aurobindo Pharma among others will be in focus after the US extended the price-fixing lawsuit to dermatology topical medication. The lawsuit alleges collusion among competing generic drug makers to unlawfully allocate market share.

State Bank of India: The bank’s board will meet today to decide on long-term fundraising up to $1.5 billion, through a public offer and/or private placement of senior unsecured notes in US Dollars or any other convertible currency during FY21.

Yes Bank: The bank has applied to the stock exchanges for re-classification of promoter shareholding post the reconstruction scheme for the lender in March this year.

ONGC: Moody’s Investors Service has downgraded long term issuer ratings of the company from Baa2 to Baa3.

UPL: The company’s subsidiary has successfully completed the issuance of 10-year dollar-denominated Senior Unsecured Notes for an aggregate amount of $500 million. The issue was very well received by the investors and UPL saw the initial interest of up to $3.3 billion, an oversubscription of 6.6x.

Mahanagar Gas: The company’s net profit in Q4FY20 fell 10.5 percent to Rs 166.59 crore from Rs 8186.05 crore while revenue declined 7.8 percent to Rs 686.6 crore, QoQ.

Shriram Transport Finance: The company’s net profit in Q4FY20 declined to Rs 224.35 crore versus Rs 749 crore while revenue rose to Rs 4,168.4 crore from Rs 3,873 crore, YoY.

​Shree Cement: CARE Ratings has reaffirmed rating for the company's commercial papers at A1+.

Bharat Electronics Ltd: The company, with a strong order book, is confident that it will be able to cope with the production gaps due to COVID impact and post a healthy performance during the year.

Raymond: The company said that commodity prices have softened leading to low input costs which would support in the overall profitability during the current fiscal.

Q4FY20 Earnings: Allied Digital Services, Dixon Technologies, EID Parry, Enkei Wheels, IIFL Wealth Management, KNR Constructions, Redington India, Shriram City Union Finance, Sundram Fasteners, Westlife Development among others.