Top three Nifty 50 stocks to keep on the radar in May

We have come out with a list of stocks worth keeping a close watch on!  

Indian benchmark indices kicked off the month of April on a positive note. The benchmark equity indices recorded a high of 18,114.65 early in the month on NSE and it seemed that the bulls are set to log a fresh all-time high.   

However, things changed all of a sudden as cues from global markets turned sour and inflation fear weighed on the sentiments of the market participants. As a result, profit-booking emerged and the index plunged 2.07 per cent in the month of April.   

Now, we are entering the month of May on a very fragile note and also coming across a number of priests pontificating about the gloom & doom times ahead of us, given the fact that Nifty has witnessed a ‘Death Cross’. Hence, it’s important for the market participants to focus on stock-specific action for the month of May. With this in mind, we have come out with a list of stocks worth keeping a close watch on!  

Here is the list:   

Asian Paints: The stock is going to report its earnings for the quarter ended March 31, 2022, as of May 10. Historically, the stock manages to deliver handsome performance in the month of May as it reports a positive ratio of 75 per cent in this month along with an average return of 8.11 per cent during this month.   

UPL: The company has an outstanding outing in the month of April as it delivered gains close to 7 per cent and is likely to report its earnings on May 9. The stock, historically, has witnessed a stellar run in the month of May. Its average gain for the month of May is nearly 20 per cent while it closed in the green on 14 instances out of 20.   

Kotak Bank: Kotak Mahindra Bank has a positive ratio of 70 per cent in the month of May while the average gain for the stock during this month stands at a staggering 12.36 per cent. Hence, keep a close watch on this stock!