Stocks in focus on July 23, 2020 | Markets News

New Delhi: Snapping five-session winning streak, markets ended lower on Wednesday dragged by index heavyweights amid weak cues from global markets. Sensex fell 58.81 points or 0.16 percent to settle at 37,871.52. Similarly the NSE Nifty declined 29.65 points or 0.27 percent to close at 11,132.60.

Here are Stocks in focus on July 23, 2020

Rossari Biotech

Specialty chemicals manufacturing firm Rossari Biotech, which last week concluded its initial public offer (IPO), will make its stock market debut on Thursday. The Rs 496-crore IPO of Rossari Biotech was subscribed a whopping 79.37 times. The price range for the offer was fixed at Rs 423-425 per share.

Larsen & Toubro 

L&T on Wednesday posted 68.37 per cent decline in consolidated net profit to Rs 536.88 crore for the first quarter ended June 30, mainly due to COVID-19-induced lockdown that stalled project executions.
The company had clocked a net profit of Rs 1,697.62 crore in the year-ago period, the engineering and construction conglomerate said in a regulatory filing.

Rallis India

Rallis India, subsidiary of Tata Chemicals, on Wednesday reported a 53 per cent growth in consolidated profit after tax (PAT) at Rs 92 crore during the first quarter of 2020-21. The company’s PAT stood at Rs 60 crore in April-June quarter of 2019-20, Rallis India said in a statement.

ICICI Securities

ICICI Securities on Wednesday reported a 70 per cent jump in profit after tax (PAT) to Rs 193 crore in the April-June quarter on robust growth in revenues and improvement in margins. In comparison, the company had reported a PAT of Rs 114 crore in the year-ago period, ICICI Securities said in a statement.

Bajaj Auto

Bajaj Auto on Wednesday reported 60.92 per cent decline in consolidated net profit to Rs 395.51 crore for the first quarter ended June 30, with coronanvirus pandemic taking a toll on sales. The company had posted a net profit of Rs 1,012.17 crore during the same period previous fiscal.