Top stocks to watch out for on February 12: Axis Bank, SpiceJet, IL&FS

SUMMARY

The Indian shares are likely to open weak on Tuesday tracking its Asian peers, with investors looking to a new round of Sino-US trade talks as the world’s two largest economies try to resolve a tariff dispute that has put a dent on global growth and corporate earnings. Here are the top stocks to watch out for in today's trade:

By CNBC-TV18Feb 12, 2019 7:52:57 AM IST (Published)

In a relief to lenders of crisis-hit IL&FS, the National Company Law Appellate Tribunal (NCLAT) on Monday released 22 domestic and 133 overseas companies of the group to make scheduled repayments to lenders. Earlier, the NCLAT had imposed a 90-day moratorium on loan recovery from the subsidiaries of the debt-ridden group.

Specified Undertaking of the United Trust of India (SUUTI) to sell up to 5,07,59,949 equity shares of Axis Bank, on February 12 and 13, with an option to additionally sell 2,63,37,187 (1.02 percent) equity shares through offer for sale.

SpiceJet on Monday reported a massive 77 percent fall in its net profit at Rs 55 crore owing to higher aviation fuel cost and rupee depreciation. The airline had posted a net profit of Rs 240 crore in the year-ago period.

Jaypee Infratech on Monday said its net loss narrowed to Rs 326.64 crore in the third quarter ended December 31. The company, which is undergoing Corporate Insolvency Resolution Process, had reported a net loss of Rs 361.28 crore in the October-December quarter of the previous fiscal.

Aleor Dermaceuticals, a 60:40 Joint Venture between the company and Orbicular Pharmaceutical Technologies, has completed USFDA inspection at its formulation manufacturing facility located at Karakhadi, Gujarat, India; with two observations.

Allianz Investment Management strategically invests in Edelweiss' Private Debt Platform. Allianz Group, has made an investment of over $200 million into Edelweiss’ Private Debt Platform. Edelweiss, one of India’s leading diversified financial services has pioneered private debt investment in India and is one of the largest private debt managers in the country.

Andhra BankQ3: Loss at Rs 578.6 crore versus Rs 532 crore; net interest income rises to Rs 1,698.27 crore versus Rs 1,672.21 crore YoY.

Persistent Systems appoints Christopher O'Connor as CEO Designate.

State-owned Union Bank of India on Tuesday allotted more than 181.73 crore equity shares at a price of Rs 11.88 apiece to the President of India, aggregating Rs 2,159 crore.

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