Stocks in Focus on May 7, 2020

New Delhi: Markets ended with gains on Wednesday after seeing a see-saw trade. The barometer S&P BSE Sensex gained 232.24 points or 0.74% at 31,685.75. The Nifty 50 index jumped 65.30 points or 0.71% at 9,270.90.

But certain stocks came in news after the market was closed.

Here are the stocks in Focus on May 7, 2020

YES Bank

Private lender YES Bank on Wednesday announced March quarter numbers and reported a net profit of Rs 2665 crore (Profit after including extraordinary item) compared with a loss of Rs 1,508 crore. Excluding extraordinary items, the lender has reported a loss from ordinary activities of Rs 3,668 crore compared to Rs 1,508 crore a year ago. Its gross non-performing assets (GNPA) stood at 16.8% on quarter-on-quarter (QoQ) basis from 18.87% reported in December quarter. The bank’s net interest income (NII) fell 49.2% year-on-year (YoY) fall at Rs 1,274 crore compared to Rs 2,506 crore. Its provisions were at Rs 4,872 crore, compared with Rs 3,661.7 crore a year ago. The bank’s CASA (current account to a savings account) ratio stood at 26.6% compared to 33.1%. 

GSK/HUL:

GSK PLC will sell a 5.7% stake in HUL via block deals at a price band of Rs 1,850 – 1950 per share.

Dr Reddy’s Laboratories Ltd:

Dr Reddy’s said the company’s NDA (new drug application) Elyxyb (celecoxib oral solution 25 mg/mL) has been approved by the US Food and Drug Administration.

Gabriel India:

Intimated about the partial resumption of operations at our three plants located at Chakan (Pune, Maharashtra), Sanand (Gujarat) and Hosur (Tamil Nadu). It will resume operations gradually based on customer demand.

Cochin Shipyard Ltd (CSL):

Pursuant to the Ernakulam District being notified as Green Zone, CSL has resumed its operations in two shifts of 4:45 hours each. The operations are resumed with a reduced strength of about 1200 to 1400 people in each shift as against the normal engagement of about 7500 people. However, the operations of CSL’s Mumbai and Kolkata units have not been resumed yet.

Pidilite Industries: Partially resumes operations in most of the company’s locations. 

Maruti: To restart production of vehicles at its Manesar plant from May 12.