Stocks in Focus on November 12: Engineers India, Power Grid, Coal India to Aviation Stocks; here are the 5 Newsmakers of the Day

The market extended its winning run to the eighth consecutive session on Wednesday, November 11, 2020. Pharma and auto shares rallied while PSU banks corrected. The barometer index, S&P BSE Sensex gained 316.02 points or 0.73% at 43,593.67. The Nifty 50 index added 118.05 points or 0.93% at 12,749.15. Both the indices attained record closing levels. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Thursday, November 12, 2020. List of such five stocks:

Results today:

Nifty: Eicher Motors, Grasim
F&O: Page Industries, Power Fin Corp, MGL, Sun TV, Jubilant Food 

Engineers India: Board meeting is scheduled today to consider a proposal to Buy-Back of fully Paid Equity Shares of the Company. 

Post Market Results: Some companies, like Power Grid and Coal India, posted their September quarter results after the markets were closed for trading purposes on Wednesday. These stocks are likely to be in action today when the market will open for trading purposes. Details:

Power Grid Corporation of India: The state-owned Maharatna company Power Grid Corporation on Wednesday reported a 23.3% year-on-year rise in net profit at Rs 3,117 crore for the quarter ended September 20, 2020. It had posted a profit of Rs 2,527 crore for the corresponding quarter last year. Revenue from operations grew 4.3% to Rs 9,058 crore in the reported quarter against Rs 8,685 crore posted last year. EBITDA stood at Rs 7,971 crore, up 5.4% from Rs 7,557 crore posted last year. The margin advanced to 88% in Q2FY21 against 87% posted in Q2FY20. 

Coal India: The coal mining company Coal India on Wednesday reported a 16% drop on consolidated profit at Rs 2,952 crore for the quarter ended September 30, 2020. It had posted a net profit of Rs 3,523 crore in the corresponding quarter last year. Revenue from operations grew 4% to Rs 21,153 crore against Rs 20,382.6 crore posted last year. EBITDA stood at Rs 3,974 crore, up 10% from Rs 3,611 crore posted last year. The margin advanced to 18,.7% in Q2FY21 against 17.7% posted in Q2FY20. The board has approved an interim dividend of Rs 7.50 per share 

Gland Pharma IPO: The Rs 6,480 crore IPO of the Hyderabad-based Gland Pharma was subscribed 2.06 times on the last day of subscription. The non-institutional investors (NIIs) quota was subscribed 0.51 times, while the QIB quota was subscribed 6.4 times. The portion set for retail investors was subscribed 0.24 times. The price band for the offer has been fixed at Rs 1,490-1,500 per share.

See Zee Business Live TV Streaming Below:

Aviation Stocks: Government has allowed domestic airlines to increase their operations from existing 60 per cent to 70 per cent of the pre-COVID approved capacity.