Top stocks to watch out for on Monday
Here is list of top stocks to watch out for on Monday:
ONGC, HPCL: ONGC will not be required to make an open offer to minority shareholders of HPCL after buying out government’s 51.11% stake as the deal won’t trigger takeover norms as did the IOC-IBP merger in 2002, reported a daily.
Oil stocks: Kuwait’s oil minister Essam al-Marzouq said on Saturday that compliance with oil production cuts by OPEC and non-OPEC countries is good and that deeper cuts are possible. Ministers from the OPEC and non-OPEC producers will meet in the Russian city of St Petersburg on Monday to discuss the deal on production cuts.
Divi’s Labs: The drug firm reported 41.50% dip (YoY) in standalone net profit at Rs 176.54 crore for the first quarter ended June 30, impacted by USFDA alert for a unit at its Visakhapatnam facility.
Avenue Supermarts: The company, which owns D-Mart chain of supermarkets, on Saturday, reported Q1 FY18 earnings wherein profit after tax stood at Rs 175 crore, a jump of 48% (YoY). Revenue stood at Rs 3,598 crore, up by 36% (YoY).
HDFC Bank, Ambuja Cement, Bharti Infratel: HDFC Bank, Ambuja Cement and Bharti Infratel are going to declare their Q1FY18 earnings on Monday.