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Stocks in focus: RIL, IndiGo, Coal India, Future retail, pharma shares and automobile manufacturers

by The Outlooker Web Desk
November 13, 2020
in Business
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Today Dalal Street will see companies like Cochin Shipyard, Eicher Motors, Grasim Industries, HCG, IRB Infrastructure, IRCTC announced their results.

In the last five trading sessions, S&P BSE Sensex and the NSE Nifty 50 have surged nearly 6% each, aided by a vaccine shot, end of uncertainties around US Presidential Elections, and a nudge by the MSCI. Yesterday Sensex did slip into the red but investors saw the dip as a buying opportunity and the benchmark ended higher. It is now time to plan your investments in a stock specific manner that shields your portfolio of any likely near term correction. 

Stocks in focus today:

Pharma firms, Automobile makers, and consumer durables: The central government on Wednesday approved a Rs 2 lakh crore PLI scheme for 10 sectors including pharmaceuticals, auto, and manufacturers of ACs and LEDs. The move is aimed to boost manufacturing in India and aid the ‘atmanirbhar bharat’ and ‘make in India’ plans.

Reliance Industries Ltd: Mukesh Amabni’s Reliance Industries Ltd. could continue to see action today after the Competition Commission of India (CCI) approved internet major Google’s Rs 33,000 crore investment into Jio Platforms. RIL could also continue to see outflows after MSCI reduced its weightage in MSCI global indices.

Aviation stocks: Aviation names like SpiceJet and IndiGo could benefit from the government’s decision to increase the capacity on domestic carriers to 70% from the earlier 60%, following the easing in covid-19 guidelines.

Future Retail: Kishore Biyani’s Future Group companies are battling allegations levelled by US tech giant Amazon.com. In the latest turn of events Amazon has knocked on SEBI’s door alleging that Future shared price sensitive information with Reliance Industries ahead of their deal earlier this year. 

Infosys: The Information Technology major has briefed analysts about its performance. Infosys continues to see a strong deal pipeline and growing intention from companies to digitise their working has aided the company’s growth.

Coal India: Coal India’s net profit dropped 16% year-on-year at Rs 2,951 crore for the September quarter against Rs 3,522 crore during the same period last year, though net sales were up 2.5% on-year basis to reach Rs 19,484.15 crore during the July-September quarter.

SpiceJet: The domestic airline carrier reported a net loss of nearly Rs 113 crore down from Rs 462 crore that it had reported in the same quarter last year. Revenue was down over 60% on-year basis. 

Results today: Today Dalal Street will see companies like Cochin Shipyard, Eicher Motors, Grasim Industries, HCG, IRB Infrastructure, IRCTC, Jubilant FoodWorks, Mahanagar Gas, Page Industries, Natco Pharma, and SUN TV Network announce their quarterly earnings. 

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The Outlooker Web Desk

The Outlooker Web Desk

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