Top stocks to watch out for on April 30: Yes Bank, Sun Pharma, Reliance Capital, Kotak Bank

SUMMARY

Indian benchmark indices BSE Sensex and NSE’s Nifty50 are set for a negative start amid muted global sentiment. Asian shares declined despite a record run in US markets as traders were cautious ahead of US Federal Reserve policy decision this week and China factory activity data. Indian markets were closed on Monday on account of the voting day in Mumbai. The Sensex rose 336.47 points to 39,067.33 and the Nifty50 gained 112.90 points to 11,754.70 on Friday. Here are the top stocks to watch out for in today’s trade:

By CNBC-TV18Apr 30, 2019 7:49:39 AM IST (Updated)

Yes Bank: The bank on Friday reported a net loss of Rs 1,506.6 crore for period ended March 31, compared to a net profit of Rs 1,179.44 crore a year ago. CNBC-TV18 Polls had predicted a profit of Rs 952.2 crore for the quarter under review. Also, Macquarie has downgraded the stock to "sell".

Sun Pharma: The USFDA has issued a Form 483 with 11 observations after inspecting the company’s Dadra facility. The company has submitted its response to the USFDA.

L&T Finance: The company's net profit rose 34.88 percent to Rs 547.58 crore in March 2019 quarter from Rs 405.99 crore in the same period last year. Net sales advanced 20.23 percent in the quarter to Rs 3,304.23 crore, compared to Rs 2,748.34 crore a year ago.

Reliance Capital: The Anil Ambani group company is planning to raise capital by selling up to 51 percent stake in its non-banking financial companies — Reliance Home Finance and Reliance Commercial Finance as well as in two media companies — Codemasters and Prime Focus, reported Mint, citing Amit Bapna, RCap group CFO.

Reliance Nippon Life Asset Management: posted a rise of 34.16 percent in consolidated net profit at Rs 151.08 crore for the quarter ended March 31, 2019. The company had logged a profit of Rs 112.61 crore in the same quarter a year ago, according to a BSE filing. Total income fell to Rs 397.49 crore from Rs 440.19 crore in March quarter 2018.

Max India: it is planning to venture into new business verticals, after divesting healthcare and health insurance business. The new business areas will be in adjacencies to group's current verticals of life insurance, real estate, senior care, hospitality, Max India said in a release.

Bank of Maharashtra: The company reported a net profit of Rs 72.38 crore in the quarter ended March as against a net loss of Rs 113.51 crore in the year-ago period.

NTPC: It has deferred the commencement of commercial operation of its 800 MW unit-I of Gadarwara Super Thermal Power Station in Madhya Pradesh.

Punjab National Bank: The government may merge operations of PNB, Union Bank of India and Bank of India, reported the Economic Times, citing finance ministry officials.

Eveready Industries: India Ratings and Research has downgraded the Company's Long term Credit Rating to 'IND A+' from 'IND AA-'. The Outlook is Negative. The reasons for the said downgraded credit ratings as provided, are high net leverage and weakened liquidity.

Results: Kotak Mahindra Bank, Ambuja Cement, CONCOR, TVS Motor, Gruh Finance, Godrej Properties, Shoppers Stop, Indian Hotels, Exide, Schaeffler India, Ajanta Pharma, Tube Investments, BASF India, Zenzar Tech, Raymond, Monsanto India, Can Fin Homes, Orient Electric, Maithan Alloy, Filatex India, Godawari Power & Ispat, Patel Eng, Sanwaria, Astec Lifesciences.