Here is a list of top 10 stocks that may be in focus on Friday:
Bharti Airtel: The stock closed more than 3% higher on Thursday, having slumped 6% after the Supreme Court upheld the definition of adjusted gross revenue (AGR) provided by the department of telecommunications (DoT). This came as a major blow for telecom companies as they will now have to pay ₹92,000 crore in past dues at a time of rising debt and shrinking revenues.
Vodafone Idea: The stock crashed 23% on Thursday due to concerns over the telecom operator shutting down as investors anticipated that it will not be able to meet its payment obligations under the DoT’s definition of AGR. Vodafone Idea Ltd alone has to pay a massive ₹28,308 crore as the SC ruled in favour of the government.
Indigo: InterGlobe Aviation Ltd, which runs India’s largest budget airline IndiGo, reported its first quarterly loss during the current fiscal as higher maintenance and overhaul costs outweighed an increase in passenger traffic. It posted a loss of ₹1,062 crore in the September quarter as against a loss of ₹652 crore a year ago.
SBI: The largest public-sector bank will announce its September quarter earnings later today. Shares were under pressure on Thursday after the SC rejected telecom operators’ definition of AGR. The bank has huge exposure to the sector and more financial stress for telecom companies would increase the risk of fresh bad loans for the lender.
ITC: FMCG major ITC Ltd on Thursday posted a 36.2% year-on-year rise in its standalone profit to ₹4,023.1 crore for the quarter ended September. The company had posted a profit of ₹2,954.7 crore in the corresponding quarter last year. The profit number, which was also boosted by a one-time tax credit of ₹166.2 crore, was largely in line with the Street’s estimate.
Tata Steel BSL: The steelmaker released its earnings for July-September on Thursday. It reported a standalone net loss of ₹255.9 crore for the quarter compared with a net profit of 60.7 crore in the year-ago period. The stock has been under pressure as its parent Tata Steel stares at uncertainty around a no-deal Brexit. Tata Steel has a significant presence in the UK and Europe.
Biocon: The pharmaceutical company has set a target of $1 billion for annual sales of its biologics business by 2021-22 (Apr-Mar). To achieve the aim, the company, among other strategies, plans to supply recombinant human insulin to diabetes patients in countries at low and middle income levels at less than 10 cents per day, roughly one-third the cost of current prices in these countries.
Tata Motors: The company will announce its earnings for the September quarter today. The stock may be in focus as the numbers will be announced at a time when the auto sector has been grappling with severe demand slowdown. The company’s sales had nearly halved to 36,376 units in September from 69,991 a year ago.
PNB Housing: The company announced its earnings for the September quarter on Thursday after market hours. PNB Housing Finance Ltd reported a 45% rise in net profit to ₹366.8 crore in the second quarter-ended September of this fiscal. It had posted a net profit of ₹253 crore in the same period last year.
Jubilant Life Sciences: The pharmaceutical company will report its July-September earnings today. Marico Ltd will also announce the numbers for the said quarter.