CNBC-TV18's top stocks to watch out for on June 4

SUMMARY

The Indian market is likely to open lower on Thursday as the SGX Nifty, an indicator of the opening for the Nifty50, was trading 18.50 points or 0.18 percent lower at 10,149.50 at 7:05 am. However, Asian shares rose as optimism over the economic recovery from the coronavirus pandemic continued to keep investor sentiment afloat.

By CNBC-TV18Jun 4, 2020 7:29:15 AM IST (Published)

Reliance Industries: The company’s Rs 53,124.20 crore rights issue was subscribed 1.59 times on the last day of subscription. The allotment of equity shares will happen on or about June 10, 2020. (Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)

BPCL: The company has reported a net loss of Rs 1,847.37 crore in Q4FY20 versus a profit of Rs 2,912 crore while the revenue was at Rs 81,829.6 crore versus Rs 84,791.88 crore, YoY.

Aurobindo Pharma: The company’s net profit in Q4FY20 rose 45.1 percent to Rs 849.83 crore versus Rs 585.38 crore while revenue increased 16.4 percent to Rs 6,158.43 crore versus Rs 5,292.20 crore, YoY.

HDFC Life Insurance Company: The company’s promoter HDFC Ltd has sold 2.6 crore shares in the company at Rs 490.22 per share.

Berger Paints India: The company said that the ramp-up of production levels will be done gradually to allow for the inventory build up since April 2020 sales were extremely low. However, from the month of May there were signs of recovery, it said.

Tata Consumer Products: The company said it is in a comfortable liquidity position to meet its commitments. While sales are getting back to normal levels there could be an impact of increased input costs including due to commodity price volatility and supply constraints. The pandemic has imposed incremental operating costs on the business.

Jindal Steel & Power: The company’s steel sales in May increased 26 percent to 7.97 lakh ton.

GAIL (India): The company and Energy Efficiency Services have signed an MoU for jointly exploring business opportunities in the Trigeneration business segment in India.

VST Tillers and Tractors: The company's power tillers sales in May rose 24 percent to 1,750 units while tractor sales rose 20 percent to 633 units.

Heidelberg Cement: The company said that it is witnessing a gradual increase in cement demand but does not expect a V-shaped recovery. Many dealers are facing a liquidity crunch and want to liquidate their existing inventory before placing any fresh orders. Cement demand may remain sluggish due to the shortage of labour in urban areas, it said.

Persistent Systems: The company and IBM will accelerate and develop cloud solutions to customers.