On June 14, shares of Adani group companies plunged. However, yesterday (June 15), shares of Adani group companies closed on a mixed note. Thus, the after effects of the news, stating accounts of three Mauritius-based funds that own the port-to-energy conglomerate's stocks were frozen, can still be seen.
So, shares of six Adani group companies, including the flagship Adani Enterprises may be added to the watchlist for sometime.
Some other stocks to watch when market opens on June 16 are:
Dr. Reddy’s Laboratories: The International Center for Dispute Resolution, US has asked Promius Pharma, a subsidiary of Dr. Reddy’s Laboratories Limited to pay $46.25 million (Rs 339.3 crore) to Hatchtech Pty Ltd, an Australian specialty pharmaceutical product company.
Power Finance Corporation (PFC): State-run PFC posted a multifold jump in its consolidated net profit to Rs 3,906.05 crore in the January-March quarter mainly on the back of higher revenues.
Whirlpool of India: Consumer durables maker Ltd reported a 40.84 per cent jump in consolidated profit to Rs 130.06 crore for the fourth quarter ended March 31, 2021 on account of higher revenue from operations.
Easy Trip Planners: Online travel company reported a multi fold increase in its consolidated net profit to Rs 30.46 crore for the March-ended quarter. The company had posted a net profit of Rs 3.38 crore for the January-March quarter a year ago. Its revenue from operations was up 82.06 per cent to Rs 57.44 crore during the quarter under review as against Rs 31.55 crore in the corresponding quarter of the previous fiscal, Easy Trip Planners said in a BSE filing.
LIC Housing Finance (LIC HFL): Mortgage financier reported a 5 per cent decline in its profit after tax at Rs 398.92 crore in the quarter ended in March 2021 due to higher provisioning for bad loans. It had reported a profit after tax of Rs 421.43 crore in the year ago period. For FY 2020-21, net profit grew by 14 per cent to Rs 2,734.34 crore as against Rs 2,401.84 crore in the previous year.
Jubilant FoodWorks: Food services major reported a 395 per cent year-on-year jump in its profit after tax to Rs 104 crore for the quarter ended March. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 47 per cent to Rs 249 crore.
PNB Housing Finance: It has been fined by National Housing Bank (NHB), a regulatory body for overall regulation and licensing of housing finance companies in India.
Canara Bank: State-owned bank said it will be the lead sponsor of National Asset Reconstruction Company Limited (NARCL) or bad bank with 12 per cent stake in the entity. Bad bank refers to a financial institution that takes over bad assets of lenders and undertakes resolution.
Jubilant Pharmova: Jubilant HollisterStier LLC, a step down subsidiary of Jubilant Pharmova, has entered into a manufacturing partnership with Ocugen, a biopharmaceutical company. This agreement is for manufacturing of vaccine candidate Covaxin for the US and Canadian markets.
Dalmia Bharat Sugar & Industries: The company has decided to increase its ethanol manufacturing capacity to 15 crore litres per annum from January 2022. The company's present production capacity is 8 crore litres.
