Stocks in focus: Bharti Airtel, Vodafone Idea, ICICI Bank, MCX, Federal Bank, Glenmark Pharma

Nifty futures were trading 88.85 points or 0.79 per cent at 11,275 on Singaporean Exchange, suggesting a strong opening for BSE Sensex and Nifty 50 on Monday. Investors will keep a tab on trends in COVID-19, oil prices, rupee trajectory and other global developments. Besides, the Supreme Court is scheduled to hear the case on adjusted gross revenue (AGR) by telecom companies later in the day today. “The market volatility is likely to continue, largely mirroring global cues. Investors would lookout for fresh triggers amid a continued surge in domestic coronavirus cases. On Monday, the market would await the outcome of AGR case hearing on the domestic front while on the global front, the US-China weekend meeting would provide some direction,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Stocks in focus today:

Airtel, Voda-Idea: Telecom companies such as Bharti Airtel, Vodafone Idea and Reliance Communications will be in focus today as the Supreme Court will hear the case on AGR dues by telecos later in the day today.

Petronet LNG, Orient Paper: Can Fin Homes, Petronet LNG, Lux Industries, HFCL, Scooters India, Suven Pharma, Sical Logistics and Orient Paper are among 37 companies that are scheduled to announce their quarterly earnings today.

ICICI Bank: ICICI Bank on Saturday said that it has successfully raised almost Rs 15,000 crore through Qualified Institutional Placement (QIP). The lender said that it has issued 418,994,413 shares at an issue price of Rs 358 per equity share, a discount of Rs 3 from its closing price on Friday.

Ujjivan Small Finance Bank: Ujjivan Small Finance Bank (SFB) is expecting contraction in interest and fee incomes this fiscal due to business disruptions caused by COVID-19 and ensuing lockdowns, its annual report has said.

Federal Bank: Federal Bank is looking to enter the credit card segment in the next one year to complete its suite of lending products, PTI cited the senior official as saying. The bank, which already has a co-branded card offering with SBI Cards, will focus on its existing customer base of over 1 crore to sell cards.

MCX: MCX iCOMDEX Bullion Index Futures contracts expiring in the months of September 2020, October 2020 and November 2020 will be available for trading with effect from Monday, August 24, 2020. The bullion index, Bulldex, being launched by MCX is the sixth product in bullion complex with 1-kg gold, 100-gm goldmini, 8-gm gold guinea and 1-gm gold peta, while the Options on Futures on 1-kg gold is already in place.

Glenmark Pharmaceuticals: Glenmark Pharmaceuticals posted an over two-fold increase in consolidated net profit at Rs 254.04 crore for the quarter ended June. The company had reported a net profit of Rs 109.28 crore for the April-June period of 2019-20.