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Stocks to Watch: RIL, HDFC Bank, Cadila, Titan, IOC, FMCG companies – Livemint

Here’s a list of stocks that could be in news on Thursday:

RIL: Morgan Stanley expects Reliance Industries Ltd’s net debt to fall even if energy and retail demand struggles for six months and the planned asset sales are delayed. “Per our assessment, RIL’s net debt (including other liabilities) would remain stable in FY21, if the COVID-19 situation were to persist for six months and recover only slowly thereafter,” the brokerage said.

HDFC Bank: The Reserve Bank of India has advised HDFC Bank to wait for the new managing director to take over later this year before submitting proposals for two key board appointments.

In November last year, the bank had initiated the appointment of Sashidhar Jagdishan and Bhavesh Zaveri as additional directors and executive directors of the bank, subject to RBI and shareholder approval.

Zydus Cadila: The pharma major — one of the two largest manufacturers of key covid-19 drug hydroxychloroquine — has ramped up its production by nearly 10 times to 30 metric tonnes (15 crore tablets of 200mg) per month in view of the huge spike in demand expected due to rising cases of coronavirus, according to a Times of India report.

IDBI Bank: The board of directors of the private lender, on Wednesday, approved in principle the proposal to sell IDBI Bank’s stake in IDBI Federal Life Insurance Company Limited (IFLI) to the extent of 23-27%.

Punjab and Sind Bank: The board of the public sector lender will meet on 15 April to consider raising of equity capital up to 7.5 billion through QIP or preferential issue.

Titan: Company’s jewellery revenue declined by 5% in the January-March period, according to a quarterly update by the company. Revenue from watches and wearables grew by 1% despite the significant loss of sales in the month of March. Company’s other businesses witnessed a strong growth of 42% during the fourth quarter over the same period last year.

Adani Gas: The company has reduced prices of CNG and PNG in line with a cut in raw material rates. The CNG rates have been cut between 1.5 per kg to 3.6 per kg while the rate of PNG to household kitchens for cooking purposes has been cut by Re 1 per standard cubic meter (scm).

OMCs: According to a report by India Ratings, the fuel demand, which witnessed a fall by around 20% in March amid the lockdown, is expected to decline further to 40% in April, impacting pricing and increasing borrowing cost for oil marketing companies like IOC, BPCL and HPCL.

Private Banks: The Yes Bank crisis, which precipitated large-scale withdrawal of deposits from smaller private sector banks, appears to have benefitted their larger peers. According to information disclosed to stock exchanges, total deposits at HDFC Bank and Kotak Mahindra Bank grew 7.4% and 11.7% respectively between December and March from the previous quarter, while smaller banks like RBL Bank and IndusInd Bank saw declines of about 8% and 6.6% in the same period.

FMCG companies: Shares of FMCG companies could be in focus in today’s trade, largely driven by a flight to safety by some investors. In the backdrop nationwide lockdown due to covid-19, investors are choosing safe havens such as FMCG stocks, which are relatively less impacted.