Stocks in focus on September 8, 2020

By Administrator_India

Capital Sands

New Delhi: Markets ended in green after a volatile session on Monday amid mixed cues from global markets.

The 30-share BSE index ended 60.05 points or 0.16 per cent higher at 38,417.23. Similarly, the NSE Nifty advanced 21.20 points or 0.19 per cent to close at 11,355.05.

Here are Stocks in focus on September 8, 2020

Vodafone Idea

Debt-ridden telecom operator Vodafone Idea on Monday said it will seek shareholders’ approval to raise borrowing limit to Rs 1 lakh crore, at the annual general meeting (AGM) scheduled to be held on September 30. Shareholders of the company, which was earlier listed as Idea Cellular, had approved a borrowing limit of Rs 25,000 crore at AGM in September 2014. In a regulatory filing, Vodafone Idea Ltd (VIL) said as the resolution passed by the company in September 2014 did not specify the securities premium, a necessary amendment is required to include securities premium in the borrowing powers.

General Insurance Corporation of India

GIC on Monday posted a net loss of Rs 557 crore for the quarter ended June 30, 2020.

Banking stocks

The Reserve Bank on Monday specified five financial ratios and sector-specific thresholds for resolution of COVID-19-related stressed assets in 26 sectors, including auto components, aviation and tourism. The Reserve Bank had on August 7 announced the constitution of a panel under the chairmanship of veteran banker K V Kamath to make recommendations on the required financial parameters to be factored in under the ‘Resolution Framework for Covid19-related Stress’ along with sector specific benchmark ranges.

Parag Milk

Dairy products company Parag Milk Foods on Monday reported 88% year-on-year drop in profit at Rs 3.2 crore for the quarter ended June 30, 2020.