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Top Ten Stocks to be Focused for 24 May 2016

Top Ten Stocks to be Focused for 24 May 2016

The Indian market is expected to open flat on Tuesday tracking muted trend seen in other Asian markets.

Here is a list of top Ten stocks that are likely to be in focus today:

Tata Power: Tata Power said that its consolidated net profit more than doubled to Rs 360.25 crore for the quarter ended March 31, 2016 on strong operational performance and lower fuel cost.

Dish TV: DTH service provider Dish TV IndiaBSE -1.42 % reported nearly 14-fold jump in consolidated net profit at Rs 482.77 crore for the March quarter on account of deferred tax expense of Rs 402.90 crore.

Tech Mahindra: Tech Mahindra is expected to report 1.5 per cent QoQ fall in net profit to Rs 747.50 crore for the quarter ended March 31 compared with 759 crore reported in the previous quarter.

Cipla: The pharma major is expected to report 23 per cent YoY growth in the net profit to Rs 354 crore for the quarter ended March 31 compared with 287 crore reported in the year-ago period.

Infosys: Software services major InfosysBSE -0.78 % said it has bagged a five-year contract from Commerzbank, the second largest bank in Germany. The financial details of the deal were not disclosed.

Power Grid: PowerGrid Corp may soon lose ownership of the country’s electricity transmission network as the power ministry has approached Cabinet with a proposal aimed at attracting private investment in the transmission space.

Axis Bank: Axis Bank has raised $500 million (Rs 3,365 crore) by selling dollar-denominated green bonds, first of its kind to be listed on the London Stock Exchange (LSE). The country’s third largest private sector lender would use the proceeds to lend to environment-friendly infrastructure projects.

VRL Logistics Ltd: The promoters of VRL Logistics Ltd plan to start a regional airline and may sell as much as 2% in the logistics company to fund their entry into civil aviation, said a media report.

Torrent Pharmaceuticals: The company posted a 175 per cent jump in net profit to Rs 357 crore for the March quarter. For the full year, the revenues were up 43 per cent to Rs 6,676 crore, while the PAT was up 129 per cent to Rs 2,930 crore.

Chennai Petroleum Corporation: The company on Monday reported a 27.14 per cent decline in net profit at Rs 265.59 crore for the quarter ended March 31, 2016.

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