STOCKS: TO WATCH- Thursday - Aug 3 Axis Bank, GAIL, Lupin, L&T, RCom, PNB, Wipro
Axis Bank Ltd:
Axis Bank Ltd., India's thirds largest private lender, will be in focus after issuing Senior Fixed Rate Bonds aggregating to $500 million under the GMTN Programme through its Dubai International Financial Centre (DIFC) branch. The notes will be listed at the Singapore Stock Exchange and London Stock Exchange.
Bajaj Finance Ltd:
Bajaj Finance Ltd., a subsidiary of Bajaj Finserv, will be in focus on entering into a Subscription Agreement with One MobiKwik Systems to acquire convertible preference share. Post conversion it will hold 10% with a total amount paid Rs 2.25 billion.
Emami Ltd., leading personal & healthcare product maker, will be in focus after it reported a net profit during the fiscal first quarter fell by nearly 98% at Rs 10.4 million owing to the geopolitical conditions in international markets, de-stocking due to GST along with aggressive ad spends. The net profit reported at Rs 10.4 million in the Apr-Jun quarter as compared to Rs 566 million of the same quarter in last year.
Edelweiss Financial Services Ltd:
Edelweiss Financial Services Ltd., a Mumbai based investment banker, will be in focus on reported a 40.5% jump in its consolidated net profit at Rs 1.96 billion the first quarter ended June. The company's net profit in the corresponding quarter of 2016-17 had stood at Rs 1.39 billion.
GAIL Ltd., the largest state-owned natural gas processor and distributor, will be in focus after it commenced construction of Kochi-Koottanad-Mangalaru Pipeline with a total project cost of Rs 32.63 billion.
Just Dial Ltd:
Just Dial Ltd., an Indian search engine, will be in focus after approving buyback of equity shares for an amount not exceeding Rs 839.1 million.
Karnataka Bank Ltd:
Karnataka Bank Ltd., a private lender, will be in focus after raising interest rates on savings bank account for large balance above Rs 10 million to 5% .
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