Ten stocks in focus in Friday morning trade
NEW DELHI: Indian markets are expected to trade in a range on Friday tracking positive trend seen in other Asian markets and SGX Nifty.
Here is a list of ten stocks which are likely to be in focus today:
UCO Bank: Uco Bank reported 5.7 times rise in net profit for the quarter to March this year, riding on lower provision and bad loan recovery.
IT stocks will be in focus after the rupee posted its biggest single-day rise in nearly a week. According to a Reuters report, the finance ministry is working on a proposal to cut fiscal deficit.
Ashok Leyland Ltd: Hinduja Group flagship Ashok Leyland LtdBSE 5.19 % posted a net profit of Rs 363.39 crore for the quarter ended March 31, 2014 as compared to Rs 150.03 crore, during the same period last year, an increase of around 142%.
JSW Steel Ltd: JSW SteelBSE -0.35 % is considering the option of importing iron ore to tide over any disruption in supplies of the key steelmaking input in the next two months in wake of the recent Supreme Court order that is set to affect mining across 26 mines in Odisha.
SpiceJet Ltd: Gulf carrier Qatar Airways is likely to invest in the debt-ridden SpiceJetBSE 3.74 % by purchasing its parking slots overseas, sources said. Officials of the state-run Qatar Investment Promotion Authority are likely to meet the top brass of SpiceJet shortly, they added.
Renuka Sugars: Renuka SugarsBSE 6.19 %, which holds 11.38% in NCDEX, is selling 5% to National Stock Exchange (NSE), an existing shareholder that owns 10% in the country's largest farm futures bourse. The sale, according to two persons aware of the development, would take place at around Rs175 a share and values the bourse at Rs 887 crore.
SKS Microfinance Ltd: SKS Microfinance LtdBSE 0.30 % said its Rs 400-crore Qualified Institutional Placement (QIP) was oversubscribed multiple times. The QIP, which was launched on May 19, closed today, a company statement said.
Reliance Communications Ltd: Reliance CommunicationsBSE 0.40 % (RCOM) is in exclusive talks to sell a 50% stake in its undersea cable business to Hong Kong's Citic Telecom for $500 million (Rs 2,925 crore) to $600 million (Rs 3,510 crore), a person familiar with the matter said, as the Anil Ambani-controlled company steps up efforts to raise funds to pare debt.
Infosys Ltd: InfosysBSE -1.38 % has won a $50-million deal from telecom giant AT&T and an announcement is expected to be made sometime next month, with the Bangalore-based software exporter expecting the telecom player to become its first $100-million customer from Europe and the US in the coming years.
State Bank of India: The public sector bank will be in focus ahead of its results of the quarter ended March 31. SBI is expected to report a net profit of Rs 2770 crore, down 16 per cent YoY in the fourth quarter of the financial year 2014, as compared to Rs 3299.20 crore reported in the year-ago period.
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