Fifteen stocks in focus on Friday, 05 August 2016
NEW DELHI: The Indian market is expected to open higher on Friday tracking positive trend seen in other Asian markets.
The Nifty50 formed a ‘Hammer’ candlestick pattern on the daily candlestick charts. This indicates after sharp selling, the market has found support at a lower level and short position could potentially be covered,” Rohit Gadia, Founder & CEO, CapitalVia Global Research Ltd told ETMarkets.com.
“Going forward investor will focus on RBI credit policy next week. Important support for the index is placed at 8,550 and 8,480 levels while resistance is visible around 8,710,” he added.
Here is a list of top fifteen stocks that are likely to be in focus today:
Tata Motors: Jaguar Land Rover North America (JLR) on Tuesday said it had initiated the first round of Takata-related recalls for certain Jaguar XF and Land Rover Range Rover models by notifying owners of affected vehicles.
Fortis Healthcare: Fortis Healthcare reported a consolidated net profit of Rs 25.26 crore for the first quarter ended June 30, 2016.
Bharat Forge: The company is expected to report 21 per cent year-on-year (YoY) drop in the net profit to Rs 155 crore for the quarter ended June 30 compared with 195 crore reported in the year-ago period.
Oberoi Realty: Mumbai-based Oberoi Realty is in separate talks with US-based investor Morgan Stanley and Singapore’s sovereign fund, GIC, to set up a joint venture (JV) for developing malls, a media report said quoting an executive.
Siemens Ltd: Siemens reported a 22.72 per cent drop in net profit at Rs 130.03 crore for the quarter ended June 2016 on account of “one-time costs and adverse exchange rates”.
ONGC & Oil India: State-owned oil producers Oil India Ltd and Oil and Natural Gas Corp. (ONGC) Ltd on Thursday paid a total of Rs.1,450 crore to the Assam government as royalty dues on crude oil mined in the state, said a media report.
Future Enterprises Ltd: Future Enterprises Ltd, part of Kishore Biyani-led Future Group, plans to raise up to Rs 1,250 crore through issuance of securities on a private placement basis to refinance its existing debts, fund expansion program and general corporate purposes.
NMDC: NMDC gets members’ nod for share buyback of up to 25 per cent of total equity shares.
Suzlon: Suzlon Energy Ltd hopes to exit a process of corporate debt restructuring by March 2017, its chairman said on Thursday, a turnaround for a company that four years ago reeled under heavy debt after an ill-advised overseas expansion, said a media report.
Kirloskar Oil Engines Ltd: Kirloskar Oil Engines Ltd reported 40.8 per cent YoY growth in the net profit to Rs 58.70 crore for the quarter ended June 30 compared with Rs 41.70 crore reported in the year-ago period.
3M India: The company reported a 60.4 per cent YoY growth in the net profit to Rs 59.70 crore for the quarter ended June compared with Rs 37.20 crore reported in the year0-ago period.
Triveni Turbine Ltd: The company reported a 32.21 per cent jump in its consolidated net profit at Rs 26.84 crore in the first quarter ended June 30, 2016.
GATI: Hyderabad-based logistics player Gati on Thursday announced that it has registered an over 20% rise in its net profit for the first quarter ended June 30, 2016, at Rs 11.81 crore as compared to Rs 9.88 crore in the year ago period.
Brigade Enterprises: The company reported 12 per cent year on year decline in consolidated net profit at Rs 22.2 crore for the quarter ended June.
Arvind Limited: Arvind on Thursday reported 18 per cent growth to Rs. 2,104 crore in first quarter of the current fiscal compared to Rs.1,787 crore in the corresponding quarter of the previous year.