Overnight Digest: Stocks to watch out on May 14
The stocks that are likely to witness significant movement on the bourses on May 14 are Tata Power, HDFC, Hero MotoCorp, Safari Industries and Nestle.
Tata Power: The Company has signed an MoU with Mahanagar Gas to explore synergies of operation in integrated customer services, foray into emerging e-mobility business and other value-added services of common interests.
HDFC: The company has reported a rise of 26.80 per cent in its net profit at Rs 2,861.58 crore Q4FY19 as compared to Rs 2,256.68 crore for the same quarter in the previous year. Total income of the company increased by 24.29 per cent at Rs 11,586.58 crore for Q4FY19 as compared to Rs 9,322.36 crore for Q4FY18.
Hero MotoCorp: The company has strengthened its scooter portfolio with the launch of two new scooters, Maestro Edge 125 and Pleasure+ 110.
Safari Industries: The board of the company has approved funds raising by issue of equity shares of face value of Rs 2 each through Qualified Institutions Placement for an aggregate amount not exceeding Rs 100 crore.
Nestle: The company is set to announce its Q4FY19 results on May 14. Stock will be in focus.