Stocks in Focus on October 19: HDFC Bank, Jet Airways, Prestige Estates to Dr Reddy’s Laboratories; here are the 5 Newsmakers of the Day

Equity benchmarks on Friday, October 16, 2020, rebounded after a one-day halt which snapped the winning rally of ten sessions in a row. The key indices added more than half a per cent amid mixed global cues. The BSE 30-share index, Sensex, gained 255 points or 0.64 per cent and settled at 39,983. The NSE Nifty-50 index also rose 82 points or 0.70 per cent to settle at 11,762

Stocks that are likely to remain in focus today include, HDFC Bank, Prestige Estates, Jet Airways and Dr Reddys. Source: Reuters

Equity benchmarks on Friday, October 16, 2020, rebounded after a one-day halt which snapped the winning rally of ten sessions in a row. The key indices added more than half a per cent amid mixed global cues. The BSE 30-share index, Sensex, gained 255 points or 0.64 per cent and settled at 39,983. The NSE Nifty-50 index also rose 82 points or 0.70 per cent to settle at 11,762. But certain stocks came in news after the market was closed on Friday and can impact the indices when it reopens on Monday, October 19, 2020. List of such five stocks:

Results:

Nifty: Britannia (variable), HDFC Life
F&O: ACC (post-market)

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HDFC Bank: HDFC Bank on Saturday reported an 18% year-on-year (YoY) rise in profit at Rs 7,513 crore for the quarter ended September 30, 2020. It had posted a net profit of Rs 6,344 crore in the year-ago quarter. The net interest income (NIM) grew by 16.7% to Rs 15,776 crore against Rs 13,515 crore posted in the year-ago period. The bank made provisions and contingencies of Rs 3,704 crore for the September quarter against Rs 2,700 crore provisioned last year. Provisions of Rs 3,890 crore were made in the previous quarter, i.e. the quarter ended June 30, 2020. The bank's gross non-performing assets (NPAs) fell to 1.08% against 1.4% posted in June quarter. Net NPA stood at 0.17% in Q2FY20 against 0.33% posted in Q1FY20. The bank’s total deposits grew 20.30%, while advances were up 15.8%. Core net interest margin (NIM) came in at 4.1 per cent and it was the lowest for the bank in at least nine quarters. Besides, Sashidhar Jagdishan appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of the Bank. He will take charge from October 27, 2020.

Jet Airways: The Kalrock Capital-Murari Lal Jalan consortium has won the bid for Jet Airways. The bid secured over 99 per cent votes from the creditor's committee of Jet Airways.

Prestige Estates: Real estate player Prestige Estates has signed a deal with private equity major Blackstone Group for stake sale in some of the company’s commercial, retail and hotel properties. As per the deal, around 1.6 to 2 crore square feet of the commercial space will be sold. Prestige Estates is looking to sell the assets to reduce debt and generate liquidity. The company had a debt of around Rs 9,272 crore at the end of FY20.

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DR. Reddy’s Laboratories Ltd: Dr Reddy’s and Russian Direct Investment Fund (RDIF) on Saturday announced that they have received approval from the Drug Controller General of India (DCGI) VG to conduct an adaptive phase 2 and 3 clinical trials for the Sputnik V vaccine in India.

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