Overnight Digest: Stocks likely to be in focus on July 25
Watch out for these stocks for Monday's trading session
On Friday, the benchmark indices ended on a positive note for the sixth trading session as investors took optimistic clues that the foreign funds (FIIs) are back in action in the Indian stock markets. FIIs are seen to be net buyers on all the trading days of this week.
Sensex advanced 390.28 points to settle at the 56,072.23 level for the week while Nifty ended 114.20 points or 0.69 per cent higher at 16,719.50 level.
Among sectors, the banking index zoomed one per cent whereas power & IT indices declined between 0.5 per cent and 1 per cent. In the broader markets, BSE Midcap index ended lower whereas Smallcap index ended marginally positive.
Watch out for these stocks for Monday's trading session-
UltraTech Cement - The shares of UltraTech Cement rose beyond 5 per cent after reporting Q1FY23 results. There was a 6.8 per cent decline in the net profit on a YoY basis, which stood at Rs 1,584 crore. On the other hand, the consolidated revenue rose 28.2 per cent to Rs 15,164 crore from Rs 11,830 crore in the year-ago period. The company witnessed strong traction in volumes over the low base of last year. The price hikes, which were taken by the company augured improvement in realisations, boosting the revenue growth.
Tube Investments of India - Tube Investments of India has executed a share purchase and shareholders' agreement to acquire a 76 per cent equity stake in Moshine Electronics Limited (MEPL), a company manufacturing camera modules for mobile phones. The acquisition would be through the secondary purchase of shares for Rs 8.64 crore. MEPL has its manufacturing facility in Noida and is diversified into the electronics & components business.
Cyient - In an otherwise firm market, the shares of Cyient dipped up to 2 per cent. In Q1FY23, Cyient clocked a 0.9 per cent year-on-year growth in profit at Rs 116.1 crore while group revenue at Rs 1,250.1 crore grew by 5.8 per cent on a QoQ basis and 18.1 per cent on a YoY basis. Constant currency revenue growth stood at 4.4 per cent on a QoQ basis and 15.8 per cent on a YoY basis.
Yes Bank - The shares of Yes Bank continued to rise for the fifth straight day on reports that Carlyle and Advent were to acquire a large stake in the firm. This move comes after the bank tied up with JC Flowers Asset Reconstruction Co for the sale of its bad loans. The shares of Yes Bank traded positively throughout Friday's trading session and ended 2.8 per cent higher.
Hindustan Foods - The shares of Hindustan Foods zoomed around 15 per cent to Rs 568 per share in Friday’s trade and gained about 37 per cent in the past two trading sessions as the stock turned ex-date for stock split from the face value of Rs 10 to Rs 2 each in previous trading sessions. The stock traded at its 52-week high level.