Stocks in focus on September 16, 2020
By Administrator_India
New Delhi: Markets ended in the green led by rally in banking and finance stocks amid a positive trend in global markets.
The 30-share BSE Sensex closed 287.72 points or 0.74 per cent higher at 39,044.35. The broader NSE Nifty rose 81.75 points or 0.71 per cent to finish at 11,521.80.
Here are Stocks in focus on September 16, 2020.
Aurobindo Pharma
The Council of Scientific and Industrial Research and Aurobindo Pharma Limited would collaborate to develop vaccines to protect against COVID-19. Under the signed agreement between CSIR-Centre for Cellular and Molecular Biology here and Aurobindo Pharma, Aurobindo will partner with CSIR for development of several novel COVID-19 vaccines, the CCMB said in a release on Tuesday.
IRB Infra
IRB Infrastructure Developers Ltd on Tuesday said its arm has entered into a pact with NHAI for executing a stretch of Vadodara-Mumbai Expressway in Gujarat at a cost of Rs 1,755 crore. The project falls under Bharatmala Pariyojna Phase 1. The 27.50 km stretch pertains to Gandeva-Ena section in Gujarat. The company said the construction period for the stretch is 730 days, while operation period is 15 years.
SpiceJet
Budget carrier SpiceJet on Tuesday reported a net loss of Rs 600.5 crore for the first quarter ended June 30, owing to the suspension of flight operations due to the coronavirus-induced lockdown. It had posted a net profit of Rs 262.8 crore in the corresponding period of the previous financial year. The airline”s operating revenue stood at Rs 521 crore in the first quarter of 2020-21, significantly lower as against Rs 3,002.8 crore a year ago, it said in a statement. Operating expenses during the June 2020 quarter were Rs 1,311.6 crore, compared to Rs 2,886.7 crore in the year-ago period.
Infosys
India”s second largest software services firm Infosys on Tuesday said it will announce its financial results for the July-September quarter on October 14. The financial results and proposal for interim dividend, if any, will be presented to the Board of Directors on October 14, 2020 for their approval, it added. The filing noted that Infosys will hold investor/analyst calls on the same day to discuss the financial results and business outlook.
Lakshmi Vilas Bank
Lakshmi Vilas Bank on Tuesday said due diligence on its proposed amalgamation with mid-sized non-banking lender Clix Capital Group is “substantially complete” and the parties are in discussions on the next steps. The capital-starved Chennai-based bank and the New Delhi-based NBFC had in mid-June this year entered into a non-binding agreement to explore an amalgamation.
