Published On: Thu, Jun 4th, 2020

Stocks in focus: HDFC Life, RIL, BPCL, Aurobindo Pharma, among others to remain in focus.

New Delhi, June 04, 2020.

HDFC Life: Housing Development Finance Corporation (HDFC), promoter of HDFC Life, on Wednesday sold 2.6 crore shares of the insurance company worth a little over Rs 1,274 crore through an open market transaction. According to bulk deal data available with the BSE, a total of 2,60,00,000 shares of HDFC Life Insurance Company Ltd were sold by its promoter HDFC, the data showed, PTI reported.

Reliance Industries: RIL’s Rs 153,124 crore rights issue completed with a subscription of nearly 1.59 times. The public portion of the rights issue was subscribed 1.22 times. The allotment of the equity shares will take place on or about June 10, 2020. Besides, Facebook will acquire 9.9 per cent stake in Jio Platforms announced last month via a new entity — Jaadhu Holdings LLC, as per regulatory documents.

BPCL: BPCL reported a consolidated loss of Rs 1,819.6 crore for the quarter ended on March 31. The company had posted a profit at Rs 2,051.4 crore in the preceding quarter. In a separate statement to the BSE on Wednesday, BPCL said the whole of oil industry including BPCL witnessed a significant drop in crude oil prices and general fall in demand for products in the aftermath of Covid-19. The impact of COVID-19 pandemic on the physical and financial performance of the company for the year 2019-20 was lesser as compared to the months of April and May 2020, as the nationwide lockdown was announced only in the last week of the financial year 2020.

Aurobindo Pharma:  Aurobindo Pharma reported a 45.2 per cent increase in its net profit to Rs 849.8 crore for the fourth quarter as against Rs 585.4 crore during the same quarter in FY19. Revenues stood at Rs 6,158.4 crore, a growth of 16.4% over the corresponding previous period

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