7 Stocks In News On July 21, 2020

1. SBI Cards:

The stock hit a new 52-week high of Rs. 794 with a jump of over 5% in comparison to previous close price. The company on Monday posted 13.80 per cent year on year jump in profit to Rs. 393.29 crore for the quarter ended June 30 primarily due to interest income. The stock is trading close to its 52-week high of Rs. 769.

 

2. HUL:

The FMCG major is slated to announce its earnings for the quarter ended June and experts expect it to report a decline on every parameter due to Covid 19 impact. The numbers are however not comparable because of the merger of the GlaxoSmithKline Consumer's health food drinks. The counter ahead of its results is trading higher and hit a day high of Rs. 2350 per share on the BSE.

3. Vodafone Idea, Bharti Airtel:

The Supreme Court in its hearing on Monday over the AGR case reserved its order on the timeline of staggered payment of adjusted gross revenue (AGR) dues by Vodafone Idea, Bharti Airtel and Tata Teleservices.

Vodafone Idea shares trade down by over 6% at Rs. 8.24, while Airtel trades higher by 0.74% at Rs. 580.

4. NLC India:

The company raised Rs 500 crore by issuing commercial paper. "NLC India Ltd has issued and allotted 10,000 nos of commercial paper of face value of Rs 5,00,000 each aggregating to Rs 500 crore in favour of ICICI Prudential Liquid Fund on July 20, 2020," the PSU said in a filing to BSE.

The stock on the announcement trades with marginal gains of 0.5%.

5. Marico:

The FMCG major now faces a trial in the Delhi High Court after Dabur alleges the company of having copied its bottle, trade-dress, label and packaging of Dabur's honey as it comes up with into Saffola Honey.

The stock trades flat with a positive bias up 0.34%.

6. Muthoot Finance:

As per the PTI report the company's MD says the company's gold loan business will largely remain unaffected due to the pandemic and expects of 15-20% in its business during the current financial year.

7. PSBs including Bank of India, Central Bank of India, Indian Overseas Bank , UCO Bank Bank of Maharashtra and Punjab & Sind Bank :

India is aiming to monetize its assets for raising funds and in doing so it plans to reduce the number of state run lenders to just 5. The first part of the plan would be to sell majority stakes in Bank of India, Central Bank of India, Indian Overseas Bank , UCO , , Bank of Maharashtra and Punjab & Sind Bank.

On the news Nifty PSU Bank trades with gains of as much as 2.15%. All PSU Bank stocks except J&K Bank and PNB, with gains of up to 11% recorded by Bank of Maharashtra.

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