Stocks in Focus on December 2: Auto Stocks, Dr Reddy’s, UPL, Yes Bank to Phoenix Mills; here are the 5 Newsmakers of the Day
Domestic stock markets closed with gains of more than 1% on Tuesday, December 1, 2020. The S&P BSE Sensex rose 505.72 points or 1.15 % to end at 44,655.44. NSE Nifty 50 gained 140.10 points or 1.068% to close at 13,109.05. But certain stocks came in news after the market was closed
Domestic stock markets closed with gains of more than 1% on Tuesday, December 1, 2020. The S&P BSE Sensex rose 505.72 points or 1.15 % to end at 44,655.44. NSE Nifty 50 gained 140.10 points or 1.068% to close at 13,109.05. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, December 2, 2020. List of such five stocks:
November Auto Sales: The automakers have reported sales figures for November 2020.
Tata Motors: Tata Motors has reported a 20.7% rise in total sales at 49,650 units in November 2020 against 42,124 units sold in November 2019. The company has reported that there was a 9% fall in the sales of a commercial vehicle to 27,982 units in November 2020 against 30,588 units sold last year. However, the sales in the passenger vehicle segment grew 108% to 21,641 units in the reported month against 10,400 units sold last year.
Hero MotoCorp: India’s largest two-wheeler company reported a 14.4% year-on-year rise in total sales of the vehicles in November 2020. It has sold 5,91,091 units in November 2020 against 5,16,775 units sold in the same month last year.
Eicher Motors: Eicher Motors reported a 5.5% rise in sales of Royal Enfield (RE) in November 2020 at 63,782 units against 60,411 units sold last year.
Dr Reddy's Lab: Dr Reddy's Laboratories and the Russian Direct Investment Fund (RDIF) on Tuesday announced that they have commenced the clinical trials of Sputnik V vaccine in India. In a regulatory filing, Dr Reddy’s has said, “Dr Reddy’s and RDIF have commenced adaptive phase 2/3 clinical trials for Sputnik V vaccine in India after receiving the necessary clearance from the Central Drugs Laboratory in Himachal Pradesh.”
UPL: UPL has got some relief in the 2016 AgroFresh litigation. The company on Tuesday announced that the District Court in Delaware has substantially reduced the earlier October 2019 jury verdict of $3.1 crore to $1.3 crore by its judgement of November 30, 2020.
Yes Bank: The private sector lender Yes Bank has plans to increase its total loan book size in retail and small and medium (SME) from current 45% to 60% by the end of the calendar year 2023.
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Phoenix Mills: Leading mall developer Phoenix Mills Ltd (PML) and its subsidiaries have signed a non-binding term-sheet with an affiliate of Singapore’s sovereign wealth fund GIC for formation and development of a strategic retail-led mixed-use platform. GIC will initially acquire 26% stakes in Phoenix Mills subsidiary and may further increase its stake up to 35% within a year.
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