Stocks to Watch: Vodafone Idea, Glenmark, Larsen & Turbo, Infosys, Bajaj Auto

Here’s a list of stocks that may be in news on Thursday:

Vodafone Idea: The Supreme Court on Wednesday dismissed a petition filed by the income tax department challenging Bombay High Court’s order asking it to refund ₹833 crore to Vodafone Idea Ltd.

Glenmark: The Phase 3 clinical trial of antiviral drug Favipiravir in mild to moderate covid-19 patients showed 40% faster recovery compared to those on standard supportive care, Glenmark Pharmaceuticals said.

Larsen & Toubro: Engineering and construction major Larsen and Toubro Ltd posted 68.37% decline in consolidated net profit to ₹536.88 crore for the first quarter ended June 30, mainly due to covid-19-induced lockdown that stalled project executions. The company had clocked a net profit of ₹1,697.62 crore in the year-ago period, it said in a regulatory filing.

Infosys: The company has launched a consortium to meet the reskilling and employment needs raised by the covid-19 crisis in the US. In the last 24 months, Infosys has recruited more than 10,000 US nationals or permanent residents and significantly reduced their dependence on work visas.

Bajaj Auto: All manufacturing operations of Bajaj Auto came to a near standstill for a period ranging from 28 to 43 days between March and May, the company while disclosing the impact of the pandemic on business. It has now been able to ramp up production to almost 70% of normal levels. “No fresh equity capital was raised during this period. Bajaj Auto has adequate capital and financial resources to manage its business and continues to remain debt-free,” it added.

Rossari Biotech: Speciality chemicals manufacturing firm Rossari Biotech, which last week concluded its initial public offer, will make its stock market debut on today. The ₹496-crore IPO of Rossari Biotech was subscribed 79.37 times. The price range for the offer was fixed at ₹423-425 per share.

Future retail: Kishore Biyani's flagship company Future Retail Ltd has missed an interest payment on outstanding dollar bonds. The company missed paying $14 million interest due on Wednesday on its offshore bonds worth $500 million due in 2025, which the company had raised just six months ago in January.

ICICI Securities: The company on Wednesday reported a 70% jump in profit after tax (PAT) to ₹193 crore in the April-June quarter on robust growth in revenues and improvement in margins. In comparison, the company had reported a PAT of ₹114 crore in the year-ago period, ICICI Securities said in a statement.

Rallis India: The company reported a 53% growth in consolidated profit after tax (PAT) at ₹92 crore during the first quarter of 2020-21. Rallis India's PAT stood at ₹60 crore in April-June quarter of 2019-20.

Earnings: AU Small Finance Bank, Biocon, Dish TV, HDFC Asset Management Company, PNB Housing Finance, Radico Khaitan among other companies will announce their earnings for the June quarter today.