CNBC-TV18's top stocks to watch out for on March 25

SUMMARY

The Indian market is likely to open lower as the government has announced a complete lockdown across the country for 21 days. However, Asian shares surging on Wall Street's big gains could provide some support to the domestic market. At 7:15 am, the SGX Nifty was trading 126.50 points or 1.65 percent higher at 7,775.25.

By CNBC-TV18Mar 25, 2020 7:31:25 AM IST (Published)

Indiabulls Housing Finance: Moody’s has downgraded the corporate family rating and foreign-currency senior secured rating of the company to B3 from B2. The outlook on all rating remains negative and the downgrade reflects Moody's expectation that the company’s access to funding remains challenging for longer than expected.

Yes Bank: ICRA has upgraded various bond programs ratings to ICRA BB+ from 'Default' rating and has placed the company on rating watch with developing implications.

Nestle India: The company has scaled down or suspended operations in some locations.

ONGC: Moody’s has downgraded the company’s local and foreign currency issuer ratings to Baa2 from Baa1. The outlook on rating remains negative and the downgrade reflects the increasingly uncertain oil price environment, company’s depleted cash reserve and government guidelines that constrain state-run enterprises’ ability to lower dividends.

Gujarat Alkalies and Chemicals: The company has started commercial production of its anhydrous aluminum chloride plant at Dahej on March 23. The estimated increase in annual revenue of the company from this plant would be about Rs 65 crores and the total capacity of the plant will be 42,420 tonnes per annum.

Fortis Healthcare: ICRA has withdrawn [ICRA] BBB+ and short term rating of [ICRA]A2 assigned to Rs 35 crore.

IRCON International: The company has set the record date for share split (5:1) as April 7.

Torrent Pharma: The company has fully repaid secured redeemable NCDs of Rs 240 crore.

India Grid Trust: The company has completed the acquisition of its 9th transmission asset from Sterlite Power for $134 million.

Sadbhav Engineering: CARE Ratings has downgraded the rating on the company’s long term bank facilities to A-/(Stable) from A.