budget

Investors keep an eye on these stocks a day before the budget

Published

3 years ago

February 3, 2020

TNI

Tomorrow the general budget for the financial year 2020-21 will be presented. A day before the budget, some shares may be seen on Dalal Street. Let’s know, what are these shares and why are they in the discussion.

Highlights

Today, an economic survey report of the country’s economic situation will be presented in Parliament
SBI, ITC, Wipro are among the stocks which can be seen stirring on Dalal Street a day before Jat.
Quarterly results of many big companies are to be released today, due to which the effect will be seen on those stocks.

New Delhi
, the Economic Survey report of the country’s economic situation will be presented in Parliament today and tomorrow the general budget for the financial year 2020-21. A day before the budget, some stocks may be seen on Dalal Street. Let’s know, what are these shares and why are they in the discussion. Today the trading of the stock market has started with an increase. The BSE benchmark Sensex gained 233 points to open at 41146, while the Nifty opened 65 points at 12,100.

SBI, ITC, HUL and Tech Mahindra
are to present the results for the third quarter of the current financial year today i.e. 31 January 2020. Apart from these, Vedanta, Nerolac, Power Grid, Cassrall India, Bank of India and Coromandel International are also among the major companies whose quarterly results will be revealed today.

Wipro For
some family reasons, MD Abidali Neemuchwala, CEO of IT sector giant Wipro, has decided to step down. The company’s board of directors is on the lookout for a new CEO.

On Thursday, Kotak Mahindra Bank informed that an agreement was reached between MD Uday Kotak and RBI in the promoter shareholding case. Uday Kotak will be allowed to hold a 26 percent stake in the bank under this. The court dispute that has been going on for 13 months is over.

Tata Motors:
Consolidated net profit of Rs 1,755.88 crore to Tata Motors in the December quarter. However, the domestic auto industry remains in danger due to economic slowdown.

The HAL
government plans to sell a 15% stake in Hindustan Aeronautics Limited. The government is expected to raise 4000 crores from this.

Yes Bank and SICAL Logistics
Yes Bank has reduced its stake in Sickle Logistics. After selling 15.66 lakh shares of Sickle Logistics, Yes Bank now has 5.49% stake. The bank had also sold 1.2 million shares of Sickle Logistics on January 23, after which its stake reached close to 8%. This time its stake has come down by about 2.68 per cent on selling shares.

Bharti Infratel
Company’s December quarter profit rose 23% to Rs 798.7 crore.

PNB Housing Finance
is set to purchase a minority stake in IFC and South Korea’s KB Financial Group company.

IOC, the
country’s largest oil company, reported a three-fold consolidated net profit in the December quarter.

Apart from these, shares of LIC Housing, Adani Port, TTK Prestige, MCX, Jagran Prakashan, KPIT Tech and Dalmia Bharat Sugar & Industries will also be under watch.