The Indian market is likely to see strong gains on Wednesday as Prime Minister Narendra Modi announced a comprehensive economic package of Rs 20 lakh crore, which includes measures already announced by the union finance minister and the Reserve Bank of India (RBI) to push self-reliance and boost economy after the spread of coronavirus pandemic. However, the SGX Nifty, an indicator of the opening for Nifty50, was trading 153.00 points or 1.60 percent lower at 9,396.00 at 7:05 am.
Here are top 10 buzzing stocks for today:
1. Vedanta Ltd:
Promoter group of the company has offered to acquire all the public shareholding at a price Rs 87.50 a share, and delist the company from the BSE and NSE.
2. Jubilant Life Sciences: The company’s subsidiary Jubilant Generics Ltd has entered into a non-exclusive agreement with Gilead Sciences to manufacture and sell remdesivir in 127 countries, including India.
3. Bandhan Bank: The bank reported a 20.5 percent YoY fall in Q4FY20 net profit to Rs 517.28 crore. The bank has taken COVID-19 related provision amounting to Rs 690 crore.
4. Nestle India: The company’s profit in March quarter rose 13.6 percent YoY rise to Rs 525.4 crore while total revenue rose 10.7 percent YoY to Rs 3,325.3 crore.
5. Havells India: The company’s net profit in Q4FY20 fell to Rs 177.7 crore versus Rs 199 crore while revenue declined to Rs 2,217.4 crore versus Rs 2,754.77 crore, YoY.
6. IndiaMart InterMesh: Net profit of the company in Q4FY20 rose 57 percent to Rs 44 crore and revenue increased 23 percent to Rs 170 crore, YoY.
7. JK Paper: Net profit of the company in Q4FY20 fell to Rs 92.7 crore versus Rs 112.3 crore and revenue declined to Rs 736 crore versus Rs 807.2 crore, YoY.
8. Agro Tech Foods: Rakesh and Rekha Jhunjhunwala decreased their stake in the company to 5.75 percent in Q4FY20 from 7.41 percent in Q3FY20.
9. Indo Amines: The NCLT has approved the amalgamation of Core Chemicals and Key Organics with the company.
10. Apollo Micro Systems: The company has extended the timeline for investment in Ananya SIP RF Technologies for further 90 days.