Overnight Digest – Stocks to look out for on July 26
The stocks which could witness a significant movement on July 26 are Maruti, Bajaj Finance, Bajaj Finserv , IDFC Bank, Cairn Energy , IDBI Bank and Canara Bank.
Maruti :- Maruti is expected to show some volatility with results expectation being discounted in the scrip.
Bajaj Finance, Bajaj Finserv, Dr. Reddy's , IDFC Bank :-
The Q1FY17 results for Bajaj Finance and Bajaj Finserv are expected to create some volatility in the scrips.
Dr Reddy's, a large cap stock is expected to come up with results on July 2 . The expected results will create some volatility in the scrip.
In the banking space, IDFC bank is coming with its Q1FY17 results and the stock will witness some volatility.
Cairn Energy :- Vedanta Chairman Anil Agarwal, confirmed on Monday the merger of his group's cash-rich oil firm Cairn India with its parent, Vedanta. This merger will create India's largest diversified natural resources company.
IDBI Bank :- Bank plans to raise Rs 28,000 crore via equity - debt. The shareholders of the bank have given a nod to raise the funds via equity and debt.
Canara Bank :- Canara Bank's quarterly profit has tanked 52% to Rs 229 cr; asset quality stands weak for the quarter. In Q4 FY16, it had posted loss of Rs 3,905.5 crore due to higher provisions. The stock may react negatively to the quarterly results.