Since when HDFC has reported increase in net profits in the first quarter ending June 30,2020, HDFC becomes one of the top stocks among others in the trading session on Monday July 20,2020. The bank on Saturday reported a net profit of ₹6658.62 crores for its June quarter 2020-21 due to healthy interest incomes driven by growth in advances. HDFC also plans to raise up to ₹50,000 crores through bonds to enhance capital base to fund its business growth. Other than HDFC, Vodafone, Idea, Muthoot Finance, Glenmark pharma and Cadila also stood top at the trading session.
Vodafone Idea has paid an additional ₹1000 crore to the government as a part of its dues related to adjust Gross revenue, taking its total payment to an aggregate of ₹7854 crores. The company had also earlier deposited ₹6854 crores in three tranches, Vodafone Idea said in a regulatory filing.
Glenmark Pharma, a leading research based global pharmaceutical company headquartered in Mumbai, which markets favipiravir under brand Fabiflu for the treatment of mild to moderate covid-19 patients. Glenmark also stoop top in the stocks trading session on Monday 20th July 2020.
Muthoot Finance group has been performing very well providing Gold loans during the covid-19 pandemic. Despite the covid-19 Pandemic, Muthoot Finance has been one stock that has been able to hold out in terms of upward rally of its stock performance. Muthoot finance has witnessed the best loan growth in the last 4.5 years with loan growth at 22% year-on-year and 8% quarter–on-quarter.
The board of Muthoot Finance has decided to postpone the proposal to sub-divide the equity shares of the company to a future date. Though the share price movement and the financial indicators were found to be ideal for the past few months, Muthoot finance has decided to defer the proposal to sub divide the stocks to a future date.
Cadila, an Indian Pharmaceutical company headquartered in Ahmedabad. It is a manufacturer of generic drugs. Cadila has received final approval from the US Health regulator to market generic butalbital, Acetaminophen and caffeine combination tablets to treat the symptoms of Tension Headaches.
Canara Bank also plans to raise up to ₹5000 crore equity capital through various modes in the current fiscal year to enhance its capital adequacy ratio for its expansion plans.
YES Bank’s Lender’ Follow on Public Offer to raise 15000 crores got subscribed 93% on the final day of bidding on Friday.
