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Top Stocks to be Focused for 24 May 2017

Top Stocks to be Focused for 24 May 2017

Future Retail: Future RetailBSE -1.56 % on Tuesday reported a 15 per cent increase in net profit at Rs 120.6 crore for the three-month period ended March 31. It had posted a profit of Rs 104.6 crore in the same period a year ago, the company said.

Voltas: Tata Group firm VoltasBSE 9.77 % reported a 22.06 per cent increase in consolidated net profit at Rs 200.47 crore for the fourth quarter ended March 31. It had posted a net profit of Rs 164.23 crore in the January-March quarter a year ago, Voltas said in a BSE filing.

IFCI: Term lender IFCI has reported a loss of Rs 318 crore for the three-month period to March due to significant jump in non-performing assets. It had posted a loss of Rs 101 crore in the corresponding January-March period of the preceding fiscal, IFCI said in a statement.

Tata Motors: The auto major on Tuesday reported a 16.79 per cent dip in the March quarter net at Rs 4,336.43 crore on a slowdown in domestic business, and terming FY17 as a year of “homemade misses”, promised to work on execution now on. The Tata Group company reported a 35 per cent dip in 2016-17 post tax profit at Rs 7,454 crore on a consolidated level. The total revenues moved up to Rs 15,206 crore in Q4 from the year ago’s Rs 14,258 crore on a standalone basis.

SBI: State Bank of IndiaBSE -0.61 % (SBI) is close to finalising a list of half-a-dozen banks to manage a share sale that it plans to raise as much as Rs 10,000 crore, three people familiar with the matter said.

Earnings today: Adani Ports, Alchemist, Kopran, Lupin, Somany Ceramics, PNC Infratech, Wonderla Holidays and Adani Enterprises will announce their financial results for the quarter ended March 31, 2017 on Wednesday.

GAIL: State-owned gas utility GAIL India said it has drawn up investment plans of Rs 30,000 crore for expansion.

Glenmark Pharma: Global brokerage house Morgan Stanley downgraded Glenmark Pharma to ‘Equal Weight’ from ‘Overweigh’ and cut the target price of shares to Rs 706 from Rs 1146.

JB Chemicals: JB Chemicals & Pharmaceuticals’ net profit fell 16.6 per cent to Rs 42.14 crore on 1.17 per cent fall in total income to Rs 319.02 crore in Q4 March 2017 over Q4 March 2016. Meanwhile, JB Chemicals & Pharmaceuticals board of directors has approved the buy-back of up to 12.50 lakh shares at Rs 400 per share for a total consideration not exceeding Rs 50 crore, through the tender offer route on a proportionate basis.

NCC: The company reported 26.11 per cent fall in net profit to Rs 63.71 crore on 13.54 per cent rise in total income to Rs 2,186.50 crore in Q4 March 2017 over Q4 March 2016.

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