The 50-share Nifty index is expected to open soft on Friday after China reported its GDP numbers which slowed to a new three-year low in the latest quarter as exports and consumer spending weakened.
"The world's second-largest economy grew by 7.6 percent in the three months ending in June over a year earlier, down from the previous quarter's 8.1 percent, data showed Friday. That was the lowest since the first quarter of 2009 during the depths of the global financial crisis," AP reported.
We have compiled six stocks that are likely to react in Friday morning trade:
1) HDFC Bank Ltd: The private sector bank is expected to report a 30 percent YoY increase in profit after tax to Rs 1,414.20 crore for the first quarter of fiscal 2013, according to ET Now estimates.
The private sector bank, which is scheduled to announce its results on Friday, is likely to report a 21 percent increase in net interest income (calculated as income from operations less interest expenses) to Rs 3,454 crore.
2) Tata Consultancy Services Ltd, after the IT bellwether reported profit after tax of Rs 3280 crore, up 11.85 per cent against Rs 2932.40 crore in the last quarter, in line with analyst estimates.
According to most analysts the stock is likely to open strong today on the back of good set of numbers.
"On Friday, the stock is likely to open higher on account of a good set of numbers and as far as management commentary is concerned, they have been much more positive than Infosys for quite sometime," Harit Shah of Nirmal Bang Securities, said.
3) Jindal Steel & Power Ltd, after the company has raised Rs 3,500 crore from a consortium of lenders for a steel project it is setting up in Odisha.
The steelmaker will use the loan for a 2-million-tonne, coal-to-gas direct reduced iron (DRI) plant near Angul, Odisha.
4) Kamat Hotels India Ltd, after the hospitality group that runs The Orchid near the Mumbai airport, is negotiating with banks to restructure more than Rs 500 crore worth of loans as optimistic expansion amid slowing economy pushed it to the verge of default.
5) Tata Motors Ltd, after the global giant redeemed overseas convertible bonds with a face value of $472.90 million by raising funds internally.
6) MTNL, after the public sector company plans to introduce new technology and for which it has allocated capital expenditure of Rs 800 crore in 2012-13 for increasing capacity and coverage.
"The world's second-largest economy grew by 7.6 percent in the three months ending in June over a year earlier, down from the previous quarter's 8.1 percent, data showed Friday. That was the lowest since the first quarter of 2009 during the depths of the global financial crisis," AP reported.
We have compiled six stocks that are likely to react in Friday morning trade:
1) HDFC Bank Ltd: The private sector bank is expected to report a 30 percent YoY increase in profit after tax to Rs 1,414.20 crore for the first quarter of fiscal 2013, according to ET Now estimates.
The private sector bank, which is scheduled to announce its results on Friday, is likely to report a 21 percent increase in net interest income (calculated as income from operations less interest expenses) to Rs 3,454 crore.
2) Tata Consultancy Services Ltd, after the IT bellwether reported profit after tax of Rs 3280 crore, up 11.85 per cent against Rs 2932.40 crore in the last quarter, in line with analyst estimates.
According to most analysts the stock is likely to open strong today on the back of good set of numbers.
"On Friday, the stock is likely to open higher on account of a good set of numbers and as far as management commentary is concerned, they have been much more positive than Infosys for quite sometime," Harit Shah of Nirmal Bang Securities, said.
3) Jindal Steel & Power Ltd, after the company has raised Rs 3,500 crore from a consortium of lenders for a steel project it is setting up in Odisha.
The steelmaker will use the loan for a 2-million-tonne, coal-to-gas direct reduced iron (DRI) plant near Angul, Odisha.
4) Kamat Hotels India Ltd, after the hospitality group that runs The Orchid near the Mumbai airport, is negotiating with banks to restructure more than Rs 500 crore worth of loans as optimistic expansion amid slowing economy pushed it to the verge of default.
5) Tata Motors Ltd, after the global giant redeemed overseas convertible bonds with a face value of $472.90 million by raising funds internally.
6) MTNL, after the public sector company plans to introduce new technology and for which it has allocated capital expenditure of Rs 800 crore in 2012-13 for increasing capacity and coverage.
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