Stocks to watch: PowerGrid InvIT, L&T, Dr Reddy's Labs, Cipla, Macrotech Developers, TCS
Here is the list of top stocks that could be in focus on May 14.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 30 points at the opening bell. On the macro front, India’s retail inflation as measured by the Consumer Price Index (CPI) slowed to 4.29% in the month of April from 5.52% in March, mainly due to easing food prices, government data showed on Wednesday. While industrial output as measured by the Index of Industrial Production (IIP) grew 22.4% in the month of March 2021 as compared to 16.7% in the year-ago period.
Overseas, Asian stocks traded higher on Friday, following overnight gains in US stocks. Wall Street ended sharply higher at the close of a broad rally on Thursday, bouncing back from three straight days of selling on upbeat labour market data. Here is the list of top stocks that could be in focus on May 14.
Results today: Larsen & Toubro, Dr Reddy’s Laboratories, Aditya Birla Capital, Macrotech Developers, Cipla, Balkrishna Industries, Mindspace Business Parks REIT, Oberoi Realty, Reliance Infrastructure, Rossari Biotech, Surbhi Industries, Indigo Paints, Jindal Stainless, Just Dial, Kesoram Industries, and Welspun India, among others are slated to announce will release quarterly results on May 14.
TCS: Tata Consultancy Services (TCS) has launched cloud-based intelligent subscription solution leveraging SAP Business Technology Platform, to help the media and publishing industry transform customer experience and shift to subscription-based order-to-cash processes for physical and digital content.
KEC International: The company has secured new orders of Rs 1,514 crore across its various businesses. Transmission & Distribution (T&D) has secured orders of Rs 326 crore for T&D projects in India and the Americas. Civil business has secured orders of Rs 1,035 crore for the construction of elevated viaduct along with stations for a metro project and for mechanical & civil works in two cement plants. Cables business has secured orders of Rs 153 crore for various types of cables in India and overseas
Hindustan Construction Company (HCC): The company in a joint venture (JV) with KEC International (KEC), has been awarded Rs 1,147 crore contract by Chennai metro rail for the construction of 7.95 km elevated viaduct section and nine elevated stations on Corridor 4 of phase II of the Chennai Metro. HCC share in the JV is 51%.
DJ Mediaprint & Logistics: The company has secured orders from LIC of India, Divisional Office, Howrah, Kolkata. This opens up new avenues for the company in the eastern markets.
Wipro: Wipro has earned the Microsoft Windows Virtual Desktop advanced specialization, a validation of a partner’s deep knowledge, extensive experience and expertise in deploying, scaling and securing virtual desktop infrastructure on Azure.
Vedanta: Vedanta’s Cairn Oil & Gas has commenced oil production from a facility in Aishwariya Barmer Hills in Rajasthan. The project is a first in Cairn’s tight oil portfolio with a growth potential to contribute 20 per cent to the company’s vision production. The project has been executed in collaboration with leading global oilfields services company, Schlumberger. The ABH development uses some of the most advanced technologies for its operations. It is the largest horizontal well with multi-frac development campaign of 37 wells in the Indian subcontinent which is the key enabler to unlock tight oil.
Pidilite Industries: The company has reported results for fourth quarter ended March 31, 2021. The company has reported a rise of 73.27% in its net profit at Rs 276.52 crore for the quarter under review as compared to Rs 159.59 crore for the same quarter in the previous year. Total income of the company increased by 39.98% at Rs 1868.87 crore for Q4FY21 as compared Rs 1335.09 crore for the corresponding quarter previous year. On the consolidated basis, the company has reported a rise of 94.37% in its net profit attributed to the shareholders at Rs 306.19 crore for the quarter under review as compared to Rs 157.53 crore for the same quarter in the previous year. Total income of the company increased by 44.54% at Rs 2252.85 crore for Q4FY21 as compared Rs 1558.64 crore for the corresponding quarter previous year.