Stocks to Watch on 19 July 2019

Experts at CapitalVia have come up with the prime stocks to watch in India for 19th July 2019. These stocks should be monitored closely and have great potential earnings.

Tata Chemicals:

Tata Group has plans to set up a factory to make lithium-ion cells, said two persons directly aware of the matter, as it seeks to capitalize on the emerging electric vehicle (EV) industry in India. This may lead to a bright near future investment horizon and hence good expectations.

Care Rating:

CARE Ratings has sent its Managing Director and Chief Executive Officer Rajesh Mokashi on leave with immediate effect until further notice, after Securities and Exchange Board of India (SEBI) received an anonymous complaint. CARE Ratings confirmed in a filing with the BSE.

Torrent Pharma:

On Wednesday, the company said it already had submitted its initial response to USFDA and commitments given in response to Form 483 observations for its Dahej facility have been fulfilled. It is sending further updates over receiving of this OAI (Official Action Initiated) letter. It further added that the inspection classification will not have an impact of disruption of supplies or the revenues from operations of this facility.

Wipro:

India's fourth-largest software company reported 12.58 per cent year-on-year (YoY) rise in net profit at Rs 2,387.60 crore for the quarter ended June 30.

Jaypee Infratech:

The National Company Law Appellate Tribunal (NCLAT) Wednesday directed IDBI Bank, the lead lender of debt-ridden Jaypee Infratech, to file an affidavit listing out new terms and conditions if a fresh bidding process is conducted.

Allahabad Bank:

The bank reported a fraud of Rs 688.27 crore by a Ludhiana-based textile company. A few days ago the bank had reported a fraud of over Rs 1,775 crore by Bhushan Power and Steel Ltd.

YES Bank:

The lender said its profit plunged 91 per cent on a yearly basis to Rs 113.80 crore in the June quarter, dented by one-off impact from mark to market provisions of Rs 1,109 crore.

Reliance Industries:

British energy giant BP plc and its partner Reliance Industries (RIL) will invest $5 billion in bringing to production three sets of natural gas fields in the Krishna Godavari (KG-D6) basin block by 2022.  

Punjab & Sind Bank:

The state-owned Punjab & Sind Bank reported over Rs 238 crore fraud by Bhushan Power and Steel, a third such instance after similar disclosures made by PNB and Allahabad Bank recently.

Mindtree:

L&T group chairman AM Naik has been appointed its non-executive chairman. In the first quarter of FY20, Mindtree’s revenue grew by 1.1% sequentially to $264.2 million.

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