Companies and stocks to track today: August 3, 2020

K.S. Badri Narayanan | Updated on August 03, 2020 Published on August 03, 2020

Some of the scrips that will likely see some action

RBI Gold Bond scheme-V opens today

The Reserve Bank of India's fifth tranche of gold bonds of this fiscal begins today (August 3) and closes on August 7. The issue price has been fixed at ₹5,334 per gram while those applying through online will get a discount of ₹50 per gram. Gold bonds offer an annual interest rate of 2.50 per cent to investors. The tenor of the gold bonds is eight years with exit option after the fifth year.

Gold bonds are sold through banks, designated post offices, Stock Holding Corporation of India Ltd and the stock exchanges.

The RBI had in April had announced the government would issue Sovereign Gold Bonds (SGBs) in six tranches beginning April 20 till September.

Better July sales may keep auto stocks in the fast lane

Signalling revival, automobile companies sales figures announced so far bode well. Maruti Suzuki, India's largest passenger car manufacturer, on Saturday said that it had sold 108,000 units in July, 88 per cent more than previous month; Mahindra and Mahindra sold 25,678 units of commercial and passenger vehicles in July 2020, up 31 per cent; Hero Motocorp at 5.06 lakh units, registered a sequential growth of 14 per cent over June 2020. The focus will be on other listed players such as Tata Motors, Ashok Leyland, Escorts, Eicher Motors, TVS Motor Company, Bajaj Auto and others. If others too emulate Maruti Suzuki, not only auto manufacturers, even auto ancillaries and allied sectors such as wheel, paint, battery and other component manufacturers shares will also see buying interest.

Results: BSE, Bank of India, MRPL, Wheels India, Exide eyed

Nearly two dozens of companies will declare their quarterly results on Monday (August 3, 2020). Among the include Artemis Medicare Services, BSE, Bank of India (also fundraising), Cigniti Technologies, Exide Industries, Dhanlaxmi Bank, Kansai Nerolac, KPIT Technologies, Mro-Tek Realty, Mangalore Refinery and Petrochemicals, Nava Bharat Ventures , Solara Active Pharma Sciences, TRF, Wheels India and VST Industries.

The focus will be on Bank of India, DHanlaxmi Bank (besides results, NPAs, NIIs and moratorium details), BSE (performance has given the buoyancy in the market), Exide and Wheel India (Covid-19 impact).

Satin Credit rights issue: Tomorrow is ex-date

Monday is the cut-off date for prospective investors to participate in the forthcoming rights issue of Satin Creditcare. The company plans to mop up ₹119.90 crore through its upcoming rights issue at an issue price of ₹60 a share.

The rights entitlement ratio has been pegged at 48:125, i.e. 48 shares for every 125 existing fully paid shares. While the initial payment along with the application is ₹15 a share, the balance of ₹45 have to be paid in one or more subsequent calls as may be decided by the board/committee, the firm said in a release.

The company has set August 5 as the record date to identify eligible shareholders to participate in the buyback. That means the stock will turn ex-date on August 4. So, investors, who wish to participate int he buyback need to own them by Monday.

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Published on August 03, 2020
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