The Indian market is likely to open higher Monday following gains in Asian peers amid strong global cues. At 7:55 am, the SGX Nifty was trading 73.80 points or 0.73 percent higher at 10,252.80, indicating a positive start for the Sensex and Nifty50.

Here are the top 10 buzzing stocks for today:

1. Reliance Industries:

Abu Dhabi Investment Authority (ADIA) will invest Rs 5,683.50 crore for a 1.16 percent stake in Jio Platforms. Silver Lake Partners also announced an additional Rs 4,547 crore investment for a further 0.93 percent stake in the telecom major. With the eight investments, the total amount invested in Jio Platforms now stands at Rs 97,886 lakh crore for 21.06 percent share in the telecom major. (Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)

2. Larsen & Toubro: The company reported 6.5 percent drop in Q4FY20 net profit at Rs 3,197 crore versus Rs 3,418.2 crore while revenue fell to Rs 44,245.3 crore versus Rs 43,303.4 crore, YoY.

3. Vedanta: The company reported a consolidated net loss of Rs 12,521 crore in the March quarter on the exceptional loss of Rs 17,132 crore, primarily due to impairment of assets in oil and gas, copper and iron ore business. The company had posted a net profit of Rs 2,615 crore in the same period last year. The consolidated income during the January-March quarter declined to Rs 20,382 crore as against Rs 25,096 crore, YoY.

4. IndusInd Bank: The bank’s promoters IndusInd International Holdings Ltd and IndusInd Ltd will buy additional shares from open market in India. The promoters currently hold 14.68 percent of the paid-up share capital (diluted) of the IndusInd Bank.

5. Indian Overseas Bank: The bank has reduced its interest rate on loans linked to MCLR by 30 bps in overnight tenor and by 20 bps in 1 month to 1-year tenors with effect from June 10. The lender has also reduced its interest rate on loans linked to Repo Linked Lending rate (RLLR) to 6.85 percent from 7.25 percent per annum.

6. Bank of Maharashtra: The bank has reduced its repo-linked lending rate (RLLR) by 40 bps to 7.05 percent with effect from June 8.

7. Karnataka Bank: The bank reported a 56 percent fall Q4FY20 net profit to Rs 27.31 crore as against Rs 61.73 crore, YoY. The bank’s net profit in the December quarter was Rs 123.14 crore.

8. Infibeam Avenues: The company reported a 25 percent fall in Q4FY20 net profit to Rs 19.1 crore from Rs 25.4 crore while revenue fell 27.4 percent to Rs 135.9 crore, YoY.

9. Divi's Laboratories: The company reported a 32.96 percent rise in Q4FY20 net profit to Rs 388.23 crore from Rs 291.97 crore while total income rose to Rs 1,466.44 crore from Rs 1,307.97 crore, YoY.

10. Canara Bank: The bank has reduced its repo-linked lending rate (RLLR) by 40 bps to 6.90 percent. The lender has also slashed MCLR by 20 basis points across various tenors.

First Published:Jun 8, 2020 8:00 AM IST