Top stocks to watch out for on May 28: IndiGo, Reliance Capital, Zee, Adani Ports

SUMMARY

Indian benchmark indices BSE Sensex and NSE’s Nifty 50 are likely to open flat on Tuesday ahead of F&O expiry this week and as investors await Q4 GDP data due to be released on Friday. According to SBI research, India’s Q4 GDP is expected to moderate to 6.1 percent to 5.9 percent, which could pull down growth rate for the entire fiscal 2018-19 to below 7 percent. Asian shares traded higher after EU election results eased concerns about political difficulties in the bloc, although persistent trade concerns capped gains. Indian shares settled over half a percent higher in the previous session, rising for the second session after Lok Sabha election results. At 7.15 AM, the SGX Nifty traded 17 points, or 0.14 percent, lower at 11,907, indicating a muted beginning for the Sensex and the Nifty. Here are the top stocks to watch out for today

By CNBC-TV18May 28, 2019 8:13:42 AM IST (Updated)

InterGlobe Aviation: The owner of IndiGo airlines posted a net profit of Rs 589.6 crore for the fourth quarter ended March 31 as against a profit of Rs 117.6 crore in the same period FY18. The airline said its revenues for the given quarter went up by 35.9 percent, at Rs 7,883.3 crore.

Adani Ports: The Adani Group unit reported a 41.45 percent surge in its consolidated net profit to Rs 1,314.19 crore for the quarter ended on March 31, compared to Rs 929.06 crore for a year ago. Total income grew marginally to Rs 3,492.72 crore during the quarter as against Rs 3,487.29 crore last year.

Reliance Capital: Anil Ambani's Reliance Broadcast Network has sold Big 92.7 FM Radio to Jagran Prakashan-owned Music Broadcast Ltd (MBL) for an estimated value of Rs 1,200 crore, an official statement Monday said.

Zee Entertainment: The company’s fourth-quarter net profit increased 26.8 percent to Rs 292.5 crore, compared to a profit of Rs 230.6 crore in the same quarter last year. Revenue from operations grew 17 percent to Rs 2,019 crore in the quarter ended March 2019.

Oil India Ltd: OIL reported a net loss of Rs 208.54 crore in the March quarter due to one-time social security payment obligations, compared to a profit of Rs 866.50 crore year-ago quarter. The loss was "due to a one-time actuarial deficit of Rs 1,026.79 crore, shown as an exceptional item," it said.

Srei Infrastructure Finance Limited: Srei reported a rise of 35 percent in its consolidated net profit to Rs 144.85 crore in the fourth quarter ended March 2019, compared to Rs 107.36 crore in 2018. Total income during the period was Rs 1,731.48 crore, up 17 percent as against Rs 1,481.81 crore in the year-ago period.

NHPC: The state-run hydropower company recorded a more than two-fold jump in standalone profit to Rs 492.29 crore for March quarter mainly due to higher revenues, compared to Rs 199.80 crore a year ago. Total revenues rose to Rs 2,186.25 crore in the March quarter compared to Rs 1,406.07 crore in the year-ago period. (Company image)

Hotel Leelaventure: The company’s net loss widened to Rs 29.82 crore for the quarter ended March 31, as against Rs 15.80 crore during the corresponding period of the previous fiscal. The company's standalone income from operations stood at Rs 43.06 crore for the quarter under consideration.

Marico: CRISIL upgraded long term ratings to AAA/Stable from CRSIL AA+/Positive. The upgrade reflects CRISIL's belief that the company will maintain its strong operating performance over the medium term, driven by established brands with leading market position in most product categories, healthy profitability, and initiatives to diversify its product offerings.

Manpasand Beverages: The company has cancelled the board meeting scheduled on May 28 to consider Q4 results due to unavoidable circumstances.

RESULTS: Punjab National Bank, Sun Pharmaceutical Industries, Aurobindo Pharma, GATI.