Stocks to Watch: JK Tyre, Indian Overseas Bank, Adani Enterprises, Coal India, BHEL, among others

12:34 AM Jun 15, 2021 | FPJ Web Desk

All six Adani Group companies listed on the Indian stock exchanges hit their respective lower circuits in the first hour of trading on Monday. While it recovered slightly, it continued to trade in red. So, when markets open on Tuesday, all Adani stocks will be in focus.

Other stocks to remain in focus may be the banking sector and financial institutions. A Reserve Bank of India (RBI) consultative paper on microfinance has made a case for parity between banks and micro-financial institutions (MFIs). The suggestions when operationalised will give freedom to MFIs to price loans and more flexibility in doing business.


Other stocks that one should watch are:


JK Tyre: The company on Monday said it plans to spend Rs 200 crore in the next two years to enhance its production capacity through debottlenecking of its plants even as it continues de-leveraging exercise and reduced net debt by Rs 929 crore in FY21.

Jaiprakash Power Ventures Ltd (JPVL): The company on Monday posted a consolidated net profit of Rs 215.32 crore in the March quarter, mainly on the back of higher revenues.

Satin Creditcare Network Limited (SCNL): Microfinance institution on Monday reported a profit after tax of Rs 38 crore in the quarter ended on March 31, 2021, against Rs 13 crore in the year-ago period. For the full year, it reported a loss of Rs 14 crore as against a profit after tax of Rs 155 crore in FY20.

Coal India: State-owned company reported a marginal 1.1 per cent decline in its consolidated profit at Rs 4,586.78 crore for the quarter ended March 2021 on the back of lower sales. The coal behemoth had posted a consolidated profit of Rs 4,637.95 crore in the same period a year ago, Coal India Ltd (CIL) said in a filing to the BSE.

Indian Overseas Bank: State-run bank reported an over two-fold rise in its profit-after-tax at Rs 350 crore in the three months to March 2021, helped by higher growth in other income and on improvement in asset quality.

BHEL: State-run entity consolidated net loss widened to Rs 2,699.70 crore in the financial year 2020-21. Looking at the 4QFY21 earnings, Motilal Oswal Institutional Equities stated BHEL reported a disappointing 4QFY21 earnings as revenue came in 29 per cent below the estimate.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

(To view our epaper please Read Now. For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)