Stocks in focus on September 3, 2020

New Delhi: Markets ended in the positive zone on Wednesday amid a positive global trend and sustained foreign fund inflows.

The BSE Sensex ended 185.23 points or 0.48 percent higher at 39,086.03 while the broader NSE Nifty climbed 64.75 points or 0.56 per cent to close at 11,535.

Here are Stocks in focus on September 3, 2020

Coal India

Coal India reported a Consolidated net profit of Rs 2,077 crore in the first quarter ended June of FY21, a decline of 55 per cent over that of Rs 4,629 crore in the same period last fiscal, as demand for the dry fuel slumped due to the Covid-19 pandemic. Net sales was Rs 17,007 crore during the quarter under review, which is down by 26 per cent. In the corresponding quarter of FY20, it was Rs 23,223 crore.

Infibeam Avenues

Infibeam Avenues on Wednesday reported a 58.6 per cent decline in consolidated net profit at Rs 12 crore for June 2020 quarter. The company had posted a net profit of Rs 29 crore in the year-ago period, Infibeam Avenues said in a regulatory filing. The company offers digital payment solutions and enterprise software platforms to businesses and governments across industry verticals. Its revenue declined 44.6 per cent to Rs 103 crore in the quarter under review as compared with Rs 186 crore in corresponding period of 2019-20, it added.

IndusInd Bank

Private sector IndusInd Bank on Wednesday said it has approved allotment of preferential shares to marquee investors to raise Rs 2,495.79 crore. The Finance Committee of the board of directors at its meeting held on September 2, 2020, approved allotment of 4,76,29,768 equity shares of the face value of Rs 10 each at a price of Rs 524 per share on a preferential basis, for an aggregate consideration of Rs 24,95,79,98,432.

Aviation stocks

The Centre on Wednesday increased the limited domestic passenger flight operations` capacity to 60 per cent from an earlier 45 per cent, with immediate effect. Till now, the Centre had permitted only 45 per cent capacity utilisation in the domestic sector with effect from June 27, 2020, post the initial re-start of operations of the scheduled domestic flights from May 25, 2020. In an order, the Ministry of Civil Aviation on Wednesday increased the capacity limit.

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