Overnight Digest: Stocks likely to be in focus on May 2

A flinch in the US economy and rate hike expectations in the upcoming Fed meet led to sell-off in the global market.

The benchmark indices erased the intraday gains and ended in red with Sensex plunging 460.19 points or 0.8 per cent at 57,060.87 level and Nifty ending 142.5 points or 0.83 per cent lower at 17,102.55 level.  

All the sectoral indices ended in the red with bank, oil & gas, realty, PSU bank, power, and capital goods indices losing 1 to 2 per cent each. BSE Midcap index fell 0.81 per cent while Smallcap index contracted 0.58 per cent. 

Keep a watch on these stocks for Monday's trading session: 

Maruti Suzuki - The company's Q4 net profit was up by 57.7 per cent at Rs 1,838.9 crore as compared to Rs 1,166 crore on a YoY basis. The company’s revenue was up by 11.3 per cent at Rs 26,270 crore as against Rs 24,024 crore on a YoY basis. Earnings before interest, tax, depreciation & amortisation (EBITDA) improved 21.9 per cent at Rs 2,427 crore in comparison to Rs 1,991 crore while margin was at 9.1 per cent versus 8.3 per cent on a YoY basis. The share traded flat throughout the trading session but fell 2.76 per cent towards the end and closed at Rs 7,670.10 per share.  

Brightcom Group - The shares of this company locked in a 5 per cent upper circuit during Friday's trading session. The company announced later on the previous day that Brightcom has opened an office in Berlin, in line with its focussed growth strategy for the EU region. With this, the company now has 25 offices worldwide. Berlin is the centre of innovation and digital technology in Germany. The company aims to soak up the technology as well as creative energies in Berlin and enhance business development efforts in the great EU area.  

Varun Beverages Ltd (VBL) - In the Quarterly Results for Q1CY22, the board of directors of the company recommended bonus shares in the proportion of 1:2 i.e. one equity share for every two equity shares held by the shareholders of the company as on the record date. For Q1CY22, VBL registered a robust 26.2 per cent YoY sales growth, underpinned by strong 19 per cent volume growth across geographies. Net profit almost doubled, rising by 98.2 per cent on a YoY basis to Rs 271 crore from Rs 137 crore on the back of improvement in margins, reduced finance costs, and higher profitability from its international operations. Reacting to the stellar quarterly results, the shares jumped 9 per cent on an intraday basis.  

Lupin - Lupin Diagnostics has launched its Reference Laboratory in Guwahati in North East India. The expansion is in line with Lupin Diagnostics' strategy to expand its presence across India and increase access to quality testing. The Reference Laboratory in Guwahati has capabilities to conduct a broad spectrum of routine and specialised tests in the fields of molecular diagnostics, cytogenetics, flow cytometry, histopathology, cytology, microbiology, serology, hematology, immunology, and routine biochemistry. The shares traded higher during the day but closed 0.47 per cent lower at Rs 745.15.