Top 10 Stocks in focus on Tuesday, 31 January 2017
Domestic equity markets are likely to open in red on Tuesday following Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues.
Here is a list of 10 stocks that are likely to remain in focus on Tuesday in response to various news triggers:
Shriram City UnionBSE -3.28 % Finance: Non banking finance company Shriram City Union FinanceBSE -3.28 % on Monday registered a decline of 9.3 per cent in net profit to Rs 157.74 crore for third quarter ended December 31, as payments were delayed by borrowers due to demonetisation. The company had reported a net profit of Rs 174 crore in the December quarter last fiscal.
Pfizer: Drug firm PfizerBSE -0.27 % reported 4.36 per cent rise in standalone net profit to Rs 62.37 crore for the quarter ended on December 31, 2016. The company had posted a net profit of Rs 59.76 crore for the corresponding quarter of the previous fiscal.
Shree CementBSE -0.62 % Ltd: The company on Tuesay reported a marginal increase of 0.72 per cent in its standalone net profit to Rs 235.45 crore for the third quarter ended December 31. Shree Cement, whose board on Monday “reviewed and approved” Rs 1,800 crore project in Karnataka, had posted a net profit of Rs 233.75 crore in October-December a year ago.
Emami: FMCG firm Emami reported a marginal increase in its consolidated net profit at Rs 134.34 crore for the third quarter of 2016-17 on account of demonetisation and decline in overseas sales. The Kolkata-based company had reported a net profit of Rs 134.28 crore in October-December period a year-ago.
Dish TV: Direct-to-home operator Dish TVBSE -2.96 % reported 61.04 per cent decline in consolidated net profit to Rs 26.68 crore for the quarter ended on December 31, 2016, on account of demonetisation. The company had posted a net profit of Rs 68.49 crore in October-December period of previous year.
Idea Cellular: The third largest telco Idea CellularBSE 8.88 %, which is in talks with larger rival Vodafone for a merger, on Monday unveiled a five-point plan to grow its digital revenues, as the arrival of Reliance Jio disturbs the largest segment of voice revenue. The new strategy will focus on entertainment, digital communication, payments, cloud and information offerings.
HDFC: Global brokerage house CLSA maintained ‘Buy’ on HDFC and raised target price to Rs 1630 from Rs 1570 earlier.
Tata Motors: Jaguar Land Rover (JLR) has shelved its plan to manufacture a small SUV (sport utility vehicle) in India, as a feasibility study didn’t favour the project and also in the backdrop of Donald Trump’s protectionist stance in the US and Britain’s decision to exit the European Union. The UK unit of Tata MotorsBSE -1.13 % will instead focus on building manufacturing facilities in the US and Europe to escape potential import curbs in those markets in the changed macroeconomic and political environment, said five people in the know of the development.
Motilal Oswal FinancialBSE 0.63 % Services: The company on Monday reported a 78 per cent year-on-year increase in consolidated net profit at Rs 89 crore in the December quarter, led by a robust performance by its home loan business.
Dalmia Bharat Sugar: The company on Monday registered nearly 3-fold rise in net profit at Rs 47.63 crore for the quarter ended December 31, 2016 against Rs 16.95 crore in the corresponding quarter last year.