Overnight Digest – Stocks to look out for on May 27
The stocks which could witness significant movement on May 27 are SBI, Gail India Ltd., ONGC, TVS Motor Company Ltd., and Tata Communication Ltd.
a) SBI: Company on May 26 is expected to declare its Q4FY16 results. With major public sector posting losses due to stressed assets, it could be interesting to see SBI results. SBI plans to merge 5 of its associates with itself.
b) Gail India Ltd.: GAIL India Ltd plans to spend over Rs 12,000 crore on Jagdishpur-Haldia pipeline. The over 2,500-kilometer line will be constructed in three phases and will also connect Adani Group's Dhamra LNG import terminal in Odisha.
c) ONGC: ONGC has declared it Q4 results on May 26. For this quarter the company’s net profit has increased by 12 per cent. The stock on Thursday has closed 3 per cent higher at Rs 217.
d) TVS Motor Company Ltd.: Automotive components maker brakes India Ltd., the subsidiary of TVS group plans to invest Rs 180 crore to make turbo charger castings.
e) Tata Communication Ltd.: The company will declare its Q4 results on May 27. On May 19 the company sold 74 per cent stake of its data business to a Singapore giant Telemedia.