Overnight Digest: Stocks to watch out for on August 8

Watch out for these stocks for Monday's trading session

On Friday, with the dovish Monetary Policy by RBI, the repo rate hike of 50 basis points kept the bulls in action while bears tried to drag the indices as inflation projections were maintained for fiscal 2022-23 in spite of three consecutive rate hikes. 

At the close, Sensex was up by 89.13 points or 0.15 per cent at 58,387.93 level while Nifty added 15.50 points or 0.09 per cent at 17,397.50 level. UltraTech Cement, ICICI Bank & Bharti Airtel were the Top Gainers while Mahindra & Mahindra, Reliance Industries, and Maruti Suzuki were the Top Losers. 

Among the sectors, power & auto indices contracted over a per cent each whereas buying was seen in financial and IT names. 

Watch out for these stocks for Monday's trading session: 

Minda Corporation - The shares of Minda Corporation have soared more than 5 per cent in an otherwise flattish but positive market. The upmove came post reporting Q1FY23 results. The company reported the highest-ever quarterly operating revenue of Rs 1,010.2 crore with a YoY improvement of 80.8 per cent. The company saw the eighth quarter of double-digit EBITDA margin, owing to higher operational efficiencies. The company’s PAT stood at Rs 52.5 crore with PAT margins of 5.2 per cent and growth of 639 per cent on a YoY basis.  

NTPC - NTPC has successfully completed the commissioning of the fifth part capacity of 48.8 MW out of the 296 MW Fatehgarh Solar PV Project at Jaisalmer, Rajasthan. The commercial operations of the fifth part commenced on August 5. Now, a full capacity of 296 MW has been commissioned. With this, the standalone installed and commercial capacity of NTPC has become 54,818 MW while the total installed & commercial capacity of NTPC became 69,183 MW. The shares traded in green during Friday's trading session and ended 0.81 per cent on the upper side.  

Balkrishna Industries - The shares of Balkrishna Industries shrunk 6 per cent to Rs 2,190 on Friday. Since the past two trading sessions, the shares have been declining after the company reported disappointing margin performance. The margins contracted due to higher raw material prices for the quarter that ended June 2022. Raw material costs were counted to be 46.6 per cent of sales in Q1FY23 as compared to 42.8 per cent in Q1FY22 and 45.3 per cent in Q4FY22. The management expects relief in raw material prices to be visible from Q4FY23 onwards.  

Easy Trip Planners - Easy Trip Planners declared that EaseMyTrip Thai, a wholly-owned subsidiary of EaseMyTrip launched in 2021 in Thailand signed an exclusive general sales agreement with SpiceJet Airline to sell, promote & market passenger tickets and other services to passengers in Thailand with effect from September 1, 2022. To have a strong foothold in the market, EaseMyTrip Thai will be extending operations of SpiceJet by opening an independent branded office and representing the airlines in Bangkok, Phuket along with other locations in an attempt to cater to the larger travel markets. Following the news, the shares of Easy Trip Planners and Spice Jet gained decently. Meanwhile, SpiceJet gained up to 7 per cent on an intraday basis.