Stocks in the news: DHFL, YES Bank, CG Power, ONGC, United Breweries and Ashok

NEW DELHI: Nifty futures on the Singapore Exchange were trading 24 points, or 0.22 per cent, lower at 10,779, indicating a negative start for the Nifty50. Here are a few stocks which may buzz the most in today’s trade:

ONGC, Ashok Leyland: ONGC, Ashok Leyland, Jet Airways, Bharat Dynamics, Cox & Kings, HDIL, Unitech, IFCI, Voltas, GSK Healthcare, GSK Pharma, Eveready Industries, Gammon Infra, Alok Industries, Anant Raj and APL Apollo Tubes, are among companies which are scheduled to report their quarterly earnings on Thursday.

United Breweries: The Enforcement Directorate, via a consortium of banks led by SBI, has told Heineken NV, part-owner of United Breweries, that there’s a plan to auction the firm’s attached shares after court nod.

YES Bank: RBI has cleared Yes Bank of any disparity in reporting bad loans, known as divergence in market parlance, the private lender said late on Wednesday evening, citing the regulator’s risk assessment.

DHFL: India’s Dewan Housing Finance Corp Ltd, which was hit by claims of financial mismanagement last month, said on Wednesday its Chief Executive Harshil Mehta has resigned.

JSW Steel: Goldman Sachs believes that it is time to buy JSW Steel again. The valuation of the stock has fallen below historical levels after correcting more than 20 per cent in the last six months, said Goldman Sachs, upgrading the stock to a ‘buy’ with a target price of Rs 315.

CG Power: Shares of CG Power & Industrial Solutions will be in news after the scrip shed about a third of their value on Wednesday. Promoters of the company have adjusted loans against royalty dues and wrote off significant receivables at the manufacturer of power generation and distribution equipment.

Also read: CG Power stock plunges over 30% on provisions, write-offs
Why there is a need to be extremely cautious on CG Power after 30% fall

Fortis Healthcare: The company reported a consolidated net loss of Rs 180.1 crore for the quarter ended December 31, 2018, mainly on account of exceptional losses.

Godrej Industries: The company reported over two-fold increase in consolidated profit after tax (PAT) to Rs 121.3 crore for the third quarter ended December 2018. The company had posted a net profit of Rs 50.5 crore in the corresponding period last fiscal.

Bosch: The auto component maker reported 19.34 per cent rise in standalone net profit at Rs 335.37 crore for the third quarter ended December 31, 2018. The company had posed a standalone net profit of Rs 281 crore in the year-ago quarter, Bosch said in a regulatory filing.

Hindalco: The company is scouting for copper mines abroad for backward integration of its copper business with concentrates, said its managing director Satish Pai.

Adani Transmission: The company reported a 77.5 per cent drop in its consolidated net profit at Rs 189.2 crore in the quarter ended on December 31, 2018, mainly due to higher base last fiscal on account of factoring in one-time income of Rs 742 crore.

Bharat Forge: India’s largest manufacturer of forged components reported a 36 per cent jump in profit for the quarter ended December to Rs 310 crore. The Kalyani Group’s flagship company’s total income for the quarter grew 23 per cent to Rs 1,740 crore from Rs 1,413 crore in the previous year.

RCom: The Supreme Court on Wednesday reserved judgement on Ericsson’s contempt petitions against Reliance Communications and its chairman Anil Ambani, over the telecom operator’s failure to comply with its assurance in court to clear Rs 550 crore of arrears to the Swedish equipment supplier.

ETF news

Bharat 22 ETF: The government will launch an additional offering of Bharat-22 Exchange Traded Fund (ETF) on February 14 to raise at least Rs 3,500 crore, officials said Tuesday. The ETF sale would be for a single day, in which both institutional and retail investors can participate, they said.

ADRs

American depositary receipts (ADRs) of Vedanta fell 1.84 per cent in overnight trade. ADRs ICICI Bank and Dr Reddy’s Labs also declined 1.76 per cent and 1.73 per cent, respectively. Tata Motors ADRs climbed 1.57 per cent while those of Infosys edged 0.28 per cent higher.

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