Stocks to Watch: M&M, ITC, Vodafone Idea, JSW Energy, Bharti Infratel

Photo: Reuters
  • Bharti Infratel reported a 7% year-on-year rise in net profit to 650 crore for the March quarter
  • Mindtree will announce its earnings for Q4 today
  • Here is a list of top 10 stocks that may be in focus on Friday:
    Mahindra & Mahindra: The auto major’s board approved raising funds through the issuance of unsecured and redeemable non-convertible debentures (NCDs) worth 1,000 crore on a private placement basis.
    Bharti Infratel: The tower and infrastructure providing subsidiary of telco Bharti Airtel Ltd, reported a 7% year-on-year rise in net profit to 650 crore for the March quarter. The number of towers increased to 95,372 units during the quarter, up 1.2% QoQ.
    Vodafone Idea: The telecom operator and Paytm, a digital payments and financial services platform, have launched ‘Recharge Saathi’ programme that will enable individuals and small businesses to earn an additional income.
    ITC: The packaged goods to hotels conglomerate on Thursday said 70-80 of its 120 manufacturing locations in India, including those operated by third-party vendors, are currently operational, running at anywhere between 20% to 60% capacity a month amid the 40-day national lockdown in the wake of coronavirus outbreak.
  • Ashok Leyland: The heavy vehicle maker said it has completed the acquisition of 1.6 crore shares, or 3.36% stake, of Hinduja Leyland Finance Ltd (HLFL). The former’s shareholding in HLFL now stands at 68.81%, from 65.45% earlier.
    TCS: The IT major announced that its subsidiary, TCS iON™, will offer access to its virtual learning platform TCS iON Digital Glass Room for free to educational institutions in the US till 31 March as school and colleges are closed due to the covid-19 pandemic.
    JSW Energy: Care Ratings has reaffirmed the credit rating of AA- and placed the rating for the Sajjan Jindal-led company on credit watch with negative implications.
    Mahindra CIE: The company’s profit fell to 20.8 crore in the March quarter, against 153.72 crore in the same period last fiscal. Revenue also declined to 1,662.7 crore compared with 2,174.4 crore in the corresponding quarter of FY19.
  • Mindtree: The IT services provider, led by engineering and construction major Larsen & Toubro Ltd, will announce its earnings for the March quarter today.

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