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Stocks to Watch: Vodafone Idea, Maruti Suzuki, M&M, Axis Bank, HUL – Mint

NEW DELHI: Here is the list of top 10 stocks that could be in focus on Thursday.

Vodafone Idea: The telecom operator which was trying to raise as much as $2 billion in hybrid debt, may now opt for a pure equity round instead. It had earlier announced plans to raise around 25,000 crore in a combination of debt and equity. It had also planned to raise up to $2 billion (around 15,000 crore today) via hybrid instruments.

Maruti Suzuki: India’s largest carmaker is expected to report a double-digit growth in its December quarter net profit and revenue on the back of sharp recovery in vehicle sales. Analyst estimates compiled by Bloomberg suggest that it will report a net profit of Rs1,859.9 crore and revenue of Rs23,543.5 crore.

M&M: Talks between Mahindra & Mahindra, the largest shareholder of SsangYong Motor, and US-based Haah Automotive for sale of a controlling stake in the South Korean carmaker may have hit a roadblock due to differences.

Axis Bank: Reported a 36% year-on-year drop in its Dece profit to 1,117 crore, missing estimates as the private lender made higher provisions for bad loans. A Bloomberg survey of 14 analysts had estimated the lender’s net profit at Rs2,356.4 crore. Net interest income, the difference between interest earned and expended, rose 14% to 7,373 crore.

Hindustan Unilever: The company reported a profit of Rs1,921 crore for December-ended quarter compared with Rs1,616 crore in Q3FY20. Revenue jumped to Rs11,862 crore from Rs9,808 crore in the year-ago period.

FMCG stocks: India’s fast moving consumer goods (FMCG) companies are expected to report strong December quarter earnings aided by festive sales, improved consumer sentiment, better mobility, and a severe winter that led to people spending beyond staples and cleaning products.

NBFCs: The Reserve Bank of India’s proposed guidelines for non-bank lenders are not as stringent as feared and are expected to improve funding conditions of the sector and provide more confidence to potential investors, experts said.

Biocon: Biocon Biologics Ltd, the biosimilars subsidiary of Biocon Ltd, will reassess plans to go public only after the return of normalcy, executive chairperson Kiran Mazumdar-Shaw said in an interview. The pandemic has pushed back Biocon’s $1-billion annual revenue target set for the subsidiary as well as plans to go for an initial public offering (IPO).

Power Grid: State owned power transmission company Power Grid Corp of India Ltd has filed draft IPO papers for its first infrastructure investment trust (InvIT) – Powergrid Infrastructure Investment Trust. This will be the first time a state owned entity is monetizing its infrastructure assets through the InvIT route.

Hero MotoCorp: The country’s largest two-wheeler maker Hero MotoCorp has said it will soon commence its operations in Mexico in line with its global expansion strategy.

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