Stocks in Focus on November 11: Max Financial, Maruti Suzuki to BoB; here are the 5 Newsmakers of the Day
After hitting a record closing high in the previous session, Sensex at Bombay Stock Exchange on Friday, November 8, 2019, witnessed losses tracking losses in IT, FMCG, metal and energy stock
After hitting a record closing high in the previous session, Sensex at Bombay Stock Exchange on Friday, November 8, 2019, witnessed losses tracking losses in IT, FMCG, metal and energy stocks. Domestic equity benchmarks lost around 0.8 per cent amid negative global cues. Sensex declined 330.13 points to close at 40,323.61. Nifty at National Stock Exchange also fell 103.90 points to settle at 11,908.15. However, certain stocks came in news after the market was closed for trading purposes and can have an impact on the indices when it reopens on Monday, November 11, 2019. Here is a list of five such stocks:
Max Financial: Hero Corp likely to buy 10-15% (significant minority stake) from Analjit Singh in Max Financial Services Ltd. Hero Corp promoter Sunil Kant Munjal would buy the stakes through an open offer and may declare himself as a co-promoter of the company along with Singh.
Maruti Suzuki: The country’s largest carmaker on Saturday reported a 20.7 per cent decline in its production numbers in October, making it the ninth straight month since the company lowered its output. Maruti Suzuki India (MSI) in a regulatory filing said, "The company produced a total of 1.19 lakh units in October as against 1.50 lakh units in the same month a year ago".
Narayana Hrudayalaya Limited: The company's board on Friday approved the closure of operation of NH Whitefield Unit, Bangaluru of the company. Besides, the company has also posted the second-quarter results on the same day and reported a rise in revenue by 15.6 per cent to Rs822.3 crore. Its net profit rose 3.3 times to Rs45.4 crore while EBITDA rose 66.9 per cent to Rs121.7 crore.
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Bank of Baroda: The state-owned Bank of Baroda posted the second-quarter results and reported nearly five-fold year-on-year (YoY) growth in its net profit at Rs737 crore against Rs149 crore in the same quarter of the corresponding year. The bank's net interest income (NII) rose 10 per cent to Rs7,028 crore in the quarter against Rs6,384 crore. Its net interest margin (NIM), a measure of profitability, stood at 2.81 per cent against 2.62 per cent of the corresponding year. On quarter-on-quarter (QoQ) basis, the banks NII grew by 7 per cent to Rs7,028 crore from Rs6,567 crore while net profit (PAT) grew by 4 per cent to Rs737 crore against Rs710 crore. Its slippages were up by 9.5 per cent to Rs7,259 crore. 90% slippages from watch list.
Ashok Leyland: India's second-largest commercial vehicle maker Ashok Leyland reported 93 per cent year-on-year decline in its net profit, which stood at Rs39 crore in the second quarter of the financial year 2019-20 against Rs528 crore posted a year ago in the same quarter. Revenue went down by 48 per cent to Rs3,929 crore against Rs7,621 crore while EBITDA plunged 72 per cent to Rs229 crore against Rs829 crore.