Stocks to watch: Axis Bank, Panacea Biotec, Torrent Pharma, Ujjivan SFB, Abbott India, L&T, Canara Bank, Tata Motors others

There are some stocks that may be much more active than others. So, some stocks to watch out for today are:

Axis Bank: Specified Undertaking of the Unit Trust of India (SUUTI) is looking at selling 3.6 crore shares via offer for sale (OFS) in private lender Axis Bank at a floor price of Rs 680 per share. This will help the government raise up to Rs 3,949.34 crore.

Panacea Biotec: Although Serum Institute of India (SII) CEO Adar Poonawalla on Monday offloaded his entire stake in Panacea Biotec amounting to 5.15 per cent shareholding of the firm, SII continues to hold 9.83 per cent stake in Panacea Biotec. The listed company informed the exchange that Poonawalla’s company SII through various holding and investing companies has a 9.83 per cent stake in Panacea Biotec.

Ujjivan Small Finance Bank (SFB): The SFB on Tuesday reported an 86 per cent jump in its net profit to Rs 136 crore for the last quarter of the fiscal ended in March 2021. The bank had posted a net profit of Rs 73 crore in the same quarter of the preceding fiscal year 2019-20.

Central Bank of India: Th lender said its shareholders have approved allotment of preference shares to the government for a Rs 4,800-crore capital infusion. At the virtual extraordinary general meeting (EGM), the state-owned bank's Chairman Tapan Ray said the preference share allotment to the government has been worked out at Rs 17.11 per share.

Larsen & Toubro: Larsen & Toubro International FZE (LTIFZE), a wholly-owned subsidiary of Larsen & Toubro Limited (L&T) picked up stakes in a Delaware corporation, Help Lightning INC. The cost of purchase was $2.5 million, stated L&T in its regulatory filing. LTIFZE entered into a share purchase agreement on May 17, 2021 to purchase, 6.35 per cent stake in Help Lightning INC. This US company with over 33 employees, has a turnover of $4 million for the financial year 2020, stated L&T in its filing.

Bharti Airtel: It is experiencing financial pressures in the second wave of the COVID-19 pandemic, but expects the recovery to start soon, a top company official said on Tuesday. Bharti Airtel MD and CEO for India and South Asia Gopal Vittal said he has also lost 13 colleagues due to the COVID-19 pandemic.

Canara Bank: State-owned reported a standalone profit of Rs 1,010.87 for the fourth quarter ended March 2021 as provision for bad loans declined. The bank had posted a net loss of Rs 3,259.33 crore during the corresponding January-March 2020 quarter.

Tata Motors: The automaker said its consolidated net loss totalled Rs 7,605 crore for the quarter ended March despite a sharp growth in revenue. It had posted a loss of Rs 9,894.2 crore in the corresponding period last year and profit of Rs 2,906 crore in the December 2020 quarter. The automobile manufacturer's revenue from operations moved up 42 per cent in Q4 FY21 at Rs 88,628 crore from Rs 62,493 crore in Q4 FY20.

Torrent Pharma: Drug firm reported a 3.18 per cent rise in its consolidated net profit to Rs 324 crore for the quarter ended March 31, 2021 mainly on the back of continued India business recovery momentum, and cost control. The company had posted a net profit of Rs 314 crore for the corresponding period of the previous fiscal, Torrent Pharma said in a filing to the BSE.

Abbott India: Drug firm reported a 37.39 percent rise in its net profit to Rs 152.47 crore for the quarter ended March 31, 2021, on account of robust sales. The company had posted a net profit of Rs 110.97 crore for the corresponding period of the previous financial year, Abbott India said in a BSE filing.

Mphasis: IT solutions firm said it is setting up new centres in Mexico, Costa Rica and Taiwan that will employ over 800 people. ...the new centres will accommodate over 800 people that will serve existing Hi-tech clients. The services offered out of these centres would be large-scale operations in the areas of application development, support, testing, operations, and financial analysis," a statement said.

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