Stocks in focus on June 19, 2020

New Delhi: Markets ended in green on Thursday led by gains in banking and financial stocks.

The BSE Sensex rallied 700.13 points or 2.09 per cent to close at 34,208.05. Similarly, the NSE Nifty jumped 210.50 points or 2.13 per cent, to 10,091.65.

Here are the Stocks in focus on June 19, 2020

Tata Motors

Moody’s Investors Service on Thursday said it has downgraded Tata Motors rating as the company faces tough market conditions amid the coronavirus pandemic. The rating agency said it has downgraded Tata Motors’ corporate family rating (CFR) and senior unsecured instruments rating to B1 from Ba3.

Suven Pharmaceuticals

Drug firm Suven Pharmaceuticals on Thursday reported a consolidated net profit of Rs 74.18 crore for the quarter ended March 31, 2020.

The company had posted a net profit of Rs 74.82 crore in the corresponding period of the previous fiscal, Suven Pharma said in a filing to the BSE.

Cipla

Pharmaceutical majors Cipla and Roche Products India said on Thursday they have entered into an agreement to provide better access to innovative medicines for patients in India.

Banking stocks

State Bank of India chairman Rajnish Kumar on Thursday said that there is enough liquidity available in the system and also interest rates have moderated to a large extent. Speaking at a webinar organised by Bharat Chamber of Commerce, Kumar said that both the RBI and the government have taken measures to bring back the economy, derailed by the pandemic, back on track.

Whirlpool

Consumer durables maker Whirlpool of India Ltd on Thursday reported a 12.19 per cent fall in consolidated net profit to Rs 92.34 crore for the fourth quarter ended March 2020.

The firm had posted a net profit of Rs 105.17 crore during the January-March quarter of the previous financial year, Whirlpool of India said in a regulatory filing.

HDFC Asset Management Company

The Company’s offer-for-sale (OFS) by promoter Standard Life Investments closed on Thursday, with retail investors subscribing 82 per cent of the portion reserved for them. Retail investors bid for 9,87,191 shares on Thursday as against 12 lakh scrips on offer, translating into a subscription of 82 per cent, according to data available with the National Stock Exchange.