CNBC-TV18's top stocks to watch out for on June 5

SUMMARY

The Indian market is likely to open on a flat note on Friday following subdued trend in Asian peers. At 7:28 am, the SGX Nifty was trading 1 point or 0.01 percent lower at 10,033.00, indicating a flat start for the Sensex and Nifty50.

By CNBC-TV18Jun 5, 2020 8:08:07 AM IST (Updated)

Reliance Industries: Abu Dhabi-based sovereign investor Mubadala has announced Rs 9,093.60 crore investment for 1.85 percent stake in Jio Platforms. (Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)

HCL Technologies: The company has expanded its strategic partnership with Google Cloud to bring its software offerings.

Lupin: The company and Mylan have received European marketing authorisation for Nepexto, a biosimilar etanercept. The centralised marketing authorisation applies to all member countries of the European Union.

NIIT Ltd: The company has given in-principle approval for the divestment of its Schools Learning business to a strategic or financial partner by way of sale of holding in MLSL. This will allow NIIT to conserve on cash resources as well as management bandwidth to sharpen its focus on the larger two businesses of Corporate Learning and Skills & Careers.

PowerGrid Corporation of India: The Department of Telecommunications has asked the company to pay Rs 13,614 crore dues on account of licence fee for FY07-10.

DLF: The real estate developer reported a consolidated net loss of Rs 1,864.78 crore in Q4FY20 while revenue from operations fell to Rs 1,873.80 crore as against Rs 2,660.95 crore, YoY.

RITES: The company's subsidiary Railway Energy Management Company has secured its largest mandate from Indian Railways for the management of 3 GW solar plant installation on railway land.

Mahindra Logistics: The company said that it has a comfortable liquidity position being a net surplus cash company with zero long term debt. There may be some impact on the receivable cycle, however, the company foresees no major risk given the high quality of its customers.

Can Fin Homes: The company said that it has been servicing its debts and other financial obligations during lockdown and will continue to service its future obligations without any hassle. The company has not opted for moratorium offered by its lending institutions.

APL Apollo Tubes: The company has noted good demand for its products from its consumers as various construction sites have become operational and distributors are also replenishing their stock levels. It has not availed any moratorium in its loan repayments and has repaid all its the loan installments and interest dues till date. Also, the company is focusing on faster receivable collection and reduction in debt, it said.

SRF: The company’s consolidated net profit in Q4FY20 rose 8 percent to Rs 194 crore while revenue decreased 4 percent to Rs 1,858 crore, YoY.