Overnight Digest: Stocks likely to be in focus on May 30

The benchmark indices ended higher for the second consecutive day on the back of positive global cues. A lowering of FII selling made the domestic market comfortable in squeezing volatility. RBI’s upcoming policy meeting will be the key driver in the market, where they are expected to announce an additional policy rate hike of 25-35 bps. 

At close, Sensex was up by 632.13 points or 1.17 per cent at 54,884.66 while Nifty rose 182.30 points or 1.13 per cent to 16,352.50 level. Apart from metal and oil & gas, the rest of the sectoral indices ended higher. In the broader markets, BSE Midcap and Smallcap indices climbed a per cent each.  

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

GAIL (India) - In an otherwise bullish market, the stock dipped more than 5 per cent. The company reported Quarterly Results for Q4FY22. Net profit was down by 18.4 per cent at Rs 2,683 crore as compared to Rs 3,288 crore on a QoQ basis. Revenue was up by 4.6 per cent at Rs 26,962 crore versus Rs 25,770 crore on a QoQ basis. EBITDA contracted 12.1 per cent, standing at Rs 3,715 crore against Rs 4,228 crore on a QoQ basis. EBITDA margin was reported at 13.8 per cent against 16.4 per cent. The stock closed lower by 5.43 per cent.  

TVS Motor Company - The company announced the launch of limited edition TVS HLX 125 Gold and TVS HLX 150 Gold in Kenya. These two celebrity limited editions are launched to commemorate over two million units of the global TVS HLX series sales milestone.  

HG Rahul Nayak, Head of International Business, TVS Motor Company stated, “Kenya is an important market for us. Most two-wheelers in Kenya double up as boda boda and delivery vehicles, customers always look for long-lasting & durable products. Our leading global brand TVS HLX has consistently catered to these evolving mobility needs backed by a wide service network with trained mechanics & spare parts support, setting a benchmark for superior customer experience and quality in the African countries." 

Zee Entertainment Enterprises - The company reported firm earnings performance for the quarter ended March. The broadcasting company reported an 18.2 per cent YoY rise in revenue from operations to Rs 2,323 crore for Q4FY22. The strong topline performance of the company was not reflected at the operating level as EBITDA fell 10 per cent to Rs 486.6 crore in Q4FY22 on account of higher expenses. The advertisement sales stood at Rs 1,119.8 crore versus Rs 1,123 crore, reflecting some pressure on advertising as fast-moving consumer goods and startups opted for less promotion to cut down costs.  

IT stocks - BSE IT index jumped 2.38 per cent during Friday's trading session, outperforming other sectoral indices. The top gaining IT stocks within the index were Indiamart Intermesh, R Systems International, Xelpmoc Design & Tech, Newgen Software Technologies, and Cigniti Technologies, zooming up to 7.83 per cent.