Stocks in focus on May 28, 2018

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NEW DELHI: Domestic shares are likely to open on a flat note on Monday, tracking weak global cues and Nifty futures in Singapore Stock Exchange (SGX). At 08:09 am, the Nifty futures in SGX were trading 12 points or 0.11 per cent higher at 10,651.

Here is a list of top stocks that are likely to be in focus in today’s trading session – 

Sun Pharma: Drug major Sun PharmaNSE 7.13 % on Friday reported 6.93 per cent rise in consolidated profit at Rs 1,375.62 crore for the quarter ended March 31, which was above ET NOW poll of Rs 895 crore. This apart, the pharma major expects its 2019 revenue to come in short of analysts’ expectations due to pricing pressure in its main market, the United States.

Key Q4 earnings today 
Larsen & Toubro, NMDCNSE 2.44 %, Oil IndiaNSE 1.20 %, RCF, SJVN, United BankNSE 4.41 %, Cox & Kings, DB Realty, Dredging Corp and EIH Associates Hotels would be among the companies scheduled to report their quarterly numbers during the day.

ICICI Bank: The Securities and Exchange Board of India has issued a show-cause notice to ICICI BankNSE 1.22 % and its chief executive officer Chanda Kochhar for alleged violation of disclosure requirements under securities law in the case involving Videocon Group and NuPower Renewables, a firm run by her husband Deepak Kochhar.

Lakshmi Vilas Bank: Six months after raising Rs 800 crore through a rights issue, Lakshmi Vilas Bank has initiated talks with several investors — both financial and strategic — for selling up to 26 per cent equity to mobilise funds for expansion, ET reported. The bank has hired JP Morgan & Chase to look at various strategic options after the private-sector lender’s board, which met last week in Chennai, ratified the proposal. The bank has a market capitalisation of about Rs 2,450 crore.

Tech Mahindra: Tech Mahindra on Friday reported a 107.80 per cent YoY surge in net profit at Rs 1,222 crore for the March quarter, which beat Rs 930.90 crore profit anticipated by analysts in an ET Now poll. The company had reported a net profit of Rs 588 crore in the year-ago quarter.

PC Jeweller: PC Jeweller on Friday reported 7.48 per cent year-on-year rise in profit at Rs 118.28 crore for the quarter ended March 31. It had posted a profit of Rs 110.05 crore in the corresponding quarter last year. Total income of the company slipped 4.27 per cent year-on-year to Rs 2,114.50 crore during the quarter under review. The figure stood at Rs 2208.91 crore in the same quarter last year.

Bank of Baroda: The state-owned lender reported net loss of Rs 3,102.34 crore in Q4 March 2018 as against net profit of Rs 154.72 crore in Q4 March 2017. Total income fell 0.91 per cent to Rs 12735.16 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours on Friday, 25 May 2018.

OMCs: Shares of state-run oil marketing companies — BPCL, HPCL and Indian Oil Corporation — will be watched after petrol and diesel prices continued to rise for the 15th straight day as state-run oil marketers increased rates in line with crude oil prices.

Dilip Buildcon: The company said it was declared L-1 bidder for a new hybrid annuity project PKG-I valued at Rs 1313.90 crore by the National Highways Authority of India in Karnataka. The announcement was made after market hours on Friday, 25 May 2018.

Cadila Healthcare: CLSA has maintained ‘buy’ rating on Cadila Healthcare and revised target price to Rs 460 from Rs 450. Although the US base is high and contribution of gLialda and Tamiflu will decline in FY19-20, Cadila has a strong pipeline that will enable it to grow its core US business, said CLSA. A strong US along with improving India and EM outlook led by biosimilar and vaccines launches are the key potential earnings drivers, it added. Shares of Cadila Healthcare ended up 7 per cent at Rs 382.50 on Friday.

Idea Cellular: The Department of Telecommunications (DoT) may clear Idea Cellular’s proposal to increase foreign direct investment (FDI) to 100 per cent in the company within a week, having received all necessary documentation from the Aditya Birla group company and Vodafone India, senior officials said.

Videocon: In May 2017, the Enforcement Directorate (ED), Mumbai levied a penalty of Rs 14 crore on Videocon, six group companies and promoter Venugopal Dhoot, following a reference from the Reserve Bank of India (RBI) which had examined these entities as part of a probe into conflict of interest allegations against ICICI CEO Chanda Kochhar in 2016.

Vedanta: London-listed Vedanta Resources hopes to restart its copper smelter in Tamil Nadu and still wants to double its capacity despite protests demanding its closure that killed 13 people this week, a company executive told Reuters on Friday.

[“Source-economictimes”]