Market Today

1. Yes Bank Q4 losses widen to Rs 3,668 crore; gross NPAs at 16.8%

The loss posted in the three months to March 2020 more than doubled compared with the Rs 1,507 crore loss the bank posted a year ago. Most notably, the gross non-performing assets (GNPAs), or bad loans, of the bank stood at 16.8 percent compared with 3.22 percent a year ago.

2. HCL Tech to announce Q4 result today, profit could fall 4% probably

IT services company HCL Technologies on May 7 is expected to report around 4 percent sequential decline in profit, partly due to margin pressure at operating level, higher tax rate and forex loss.

3. ITC shares fall 6% amid concerns on stake sale by central government, possible tax hikes

Shares of ITC dropped on concerns that the authorities might increase taxes on tobacco products, just as they did with alcohol.
Centre holds stake in ITC through the so-called Specified Undertaking of the Unit Trust of India (SUUTI). The value of SUUTI stake in ITC is around Rs 16,000 crore.

4. GSK, Horlicks to sell HUL shares worth Rs 26,000 crore today

GlaxoSmithKline and Horlicks will sell up to $3.4 billion (Rs 26,090 crore) worth of Hindustan Unilever shares through what could be India’s biggest secondary market block trades on Thursday, with the British drugmaker looking to monetise about 5.7 per cent of HUL stock it had got after last year’s merger of GSK Consumer Healthcare and the country’s most valuable FMCG company.

5. Rallis (smallcap) is making a splash this fall season and Big Bull is buying it

Ace investor Rakesh Jhunjhunwala is glued to another Tata group stock these days, Rallis India. He raised his stake in the crop protection firm to 9.93 per cent stake by the end of March quarter from 9.79 per cent at the end of December quarter.
Rallis India has been less affected by the ongoing coronavirus-induced lockdown as its operations have come under the approved list of essential activities.