Overnight Digest: Stocks to look out on July 19
The stocks to watch out on July 19 include Allahabad Bank, IMP Powers, IDFC First, Colgate-Palmolive, Royal Orchid Hotels and Sterlite Technologies.
Allahabad Bank: The bank reported a fraud by SEL Manufacturing Ltd. (SELM) amounting to Rs. 688.27 crore.
IMP Power: The company has successfully commissioned small Hydro Power Project (2 x 500 KW) at Chillong in Kargil to provide uninterrupted power facilities to around 3,000 households of Tai Suru Block located in Kargil, Jammu & Kashmir.
IDFC First Bank: Rating agency India Ratings & Research (lnd-Ra) has revised the Outlook for Senior Debt Instruments of the bank to negative and has affirmed its credit rating to 'IND AA+'.
Colgate-Palmolive (India) Limited: For Q1FY20, the company reported domestic net sales growth of 6 per cent YoY and net profit increased of 5 per cent YoY.
Royal Orchid Hotels Limited: The company has signed three new properties in North Goa, Noida (Uttar Pradesh) and Belagavi (Karnataka). The properties are expected to open within the next 2 months.
Sterlite Technologies: For Q1FY20, the company reported a 63 per cent YoY growth in revenue.