Top stocks to watch out for on May 27: Manpasand Beverages, NIIT Tech, NTPC

SUMMARY

Indian benchmark indices BSE Sensex and NSE's Nifty 50 are set for a tepid start on Monday amid muted sentiment in global markets and as investors turned their focus to new government’s fiscal support plan and key economic data due to be released this week. Moreover, the Reserve Bank of India (RBI) has announced that it will inject Rs 15,000 crore into the financial system in June through purchase of government bonds in order to support the evolving liquidity situation. In global markets, Asian stocks traded marginally higher but gains were limited by concerns that the China-US trade conflict was fast turning into a technology cold war between the world’s two largest economies. At 7.07 am, the SGX Nifty traded 32.50 points, or 0.27 percent, lower at 11,845, indicated a negative start for the Sensex and the Nifty 50.

By CNBC-TV18May 27, 2019 7:55:40 AM IST (Published)

Manpasand Beverages: Manpasand Beverages' managing director, Abhishek Singh, his brother Harshvardhan Singh and chief financial officer Paresh Thakkar were arrested by the Central GST (CGST) and Customs, Vadodara-II for creating fake company units and committing tax invasion.

NIIT Technologies: Hulst BV has acquired an additional 1.6 lakh shares of NIIT Technologies from the open market, taking its shareholding in the mid-sized Indian IT firm to 32.38 percent. The shares were bought at Rs 1,267.23 apiece.

SpiceJet: The airline announced the induction of a Boeing 737, taking its fleet size to 100 aircraft. Spicejet in a release said it has added some 23 planes in the last one month alone.

NTPC: The state-run power giant posted a 48.7 percent jump in its standalone net profit at Rs 4,350.32 crore for the March quarter compared to the year-ago period mainly on the back of lower expenses. The company's total income slipped to Rs 22,545.61 crore in the March quarter from 23,617.83 crore year ago.

Fortis Healthcare: The company reported a consolidated net profit of Rs 151.19 crore for the quarter ended March, as against a net loss of Rs 914.32 crore in the corresponding period of the previous fiscal. Consolidated revenue from operations increased to Rs 1,184.15 crore from Rs 1,086.38 crore in the same quarter a year ago.

PNC Infratech: The company reported a 25 percent jump in standalone net profit at Rs 139.93 crore for the quarter ended March, helped by higher income. During January-March 2019, total income rose to Rs 1,087.96 crore from Rs 765.52 crore in the year-ago-quarter.

JSW Steel: The Sajjan Jindal-led company reported a 48 percent decline in consolidated net profit for the March 2019 quarter mainly on the back of higher cost of production and decline in realisations. The company has planned a capex of Rs 15,700 crore for the current fiscal and has received an approval from the board for new capital expenditure (capex) proposals entailing a spend of Rs 5,700 crore over the next two years.

HDFC/Bandhan/Gruh: HDFC has sold 6.10 percent stake in its subsidiary Gruh Finance to comply with the RBI requirement for facilitating the proposed merger of the housing finance arm with Bandhan Bank. The average price was Rs 260.07 apiece for shares sold on March 28 and Rs 310.126 apiece for shares sold on Friday (May 24), HDFC said.

Omaxe Ltd: The company has entered into an agreement for sale of Eden Buildcon Limited for consideration of Rs.88 crore.

Q4 Results today: Adani Ports, GAIL, Zee Ent BHEL, Colgate, Interglobe Aviation, Kaveri seeds, Motherson Sumi, NHPC, Oil India Adani Gas, Mphasis, AIA Eng, Bayer cropscience, DCM Shriram Industries, Century Plyboard, Eveready Industries, Emami, Future enterprises, Force Motors, GE Power India, Gujarat Fluorochemicals, HIL, IFB agro, Jaypee infra, Natco Pharma, Abbott india, 63moon, BLS International, Ansal Properties & Infrastructure, Arshiya, Arihant Superstructures, Uflex, Usha Martin, Brightcom, Capital Trust, Nelcast, Omaxe, Pennar Industries, Pnb Gilts, Pokarna, Precision Camshafts, Prestige Estates Projects, Psp Projects, Music Broadcast, Ramky Infrastructure, Rane Holdings, Reliance Communications, Ruchira Papers, Sandur Manganese, Som Distilleries & Breweries, Setco Automotive, Sharda Motor Industries, Shilpa Medicare, Shivam Autotech, Shriram Epc, Sms Pharmaceuticals, Steel Strips Wheels, Suprajit Engineering, Thomas Cook, Time Technoplast, Transformers And Rectifiers (India), Ucal Fuel Systems, Hotel Leela, Mold trek Packaging, Kanokia Chemical, Dollar Industries, Sadbhav Infra, Saksoft. (Stock image)