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Top stocks to watch out for on May 24: Reliance Capital, GIC Re, Cipla

Updated : 2019-05-24 08:04:15

Indian shares are set to open with gains on Friday as uncertainty around Lok Sabha elections faded after a historic mandate won by the Narendra Modi government. Election commission data showed Modi’s National Democratic Alliance has secured 350 seats, with BJP alone winning 303 seats in the 2019 general elections. However, negative global sentiment could limit gains for Indian shares. Asian shares traded near four-month lows and crude oil plunged on worries the US-China trade conflict could turn into a more entrenched strategic dispute between the world’s two largest economies. Indian benchmark indices the BSE Sensex and NSE’s Nifty 50 hit all-time highs in the previous session but settled 0.7 percent lower. Analysts said the market could further consolidate going ahead as the focus will shift to fundamentals and economy. At 7.00 A, SGX Nifty traded 62.50 points, or 0.54 percent, higher at 11,741.50, indicating a strong start for the Sensex and the Nifty. Here are the top stocks to watch out for in today's trade:

General Insurance Corporation of India: The state-run reinsurer GIC Re posted a 20 percent decline in its net profit at Rs 603.37 crore for the March quarter due to higher provisioning related to tax and exposure towards IL&FS. It had reported a profit after tax of Rs 751.60 crore in the same period last year. The reinsurer has an exposure of Rs 788 crore in various debt instruments of debt-ridden IL&FS Transportation Network (ITNL) and IL&FS Financial Services (IFIN). (Image: Company website)
General Insurance Corporation of India: The state-run reinsurer GIC Re posted a 20 percent decline in its net profit at Rs 603.37 crore for the March quarter due to higher provisioning related to tax and exposure towards IL&FS. It had reported a profit after tax of Rs 751.60 crore in the same period last year. The reinsurer has an exposure of Rs 788 crore in various debt instruments of debt-ridden IL&FS Transportation Network (ITNL) and IL&FS Financial Services (IFIN). (Image: Company website)
Eros International Media: The company reported a 14.21 percent rise in its consolidated net profit at Rs 67.03 crore for the quarter ended March 2019, compared to a net profit of Rs 58.69 crore during January-March quarter last year. Total income during the quarter under review was up 2.10 percent to Rs 263.18 crore from Rs 257.75 crore in the corresponding quarter of the last year. (Image: Company Social Media)
Eros International Media: The company reported a 14.21 percent rise in its consolidated net profit at Rs 67.03 crore for the quarter ended March 2019, compared to a net profit of Rs 58.69 crore during January-March quarter last year. Total income during the quarter under review was up 2.10 percent to Rs 263.18 crore from Rs 257.75 crore in the corresponding quarter of the last year. (Image: Company Social Media)
Cipla: The drug firm has signed an agreement to acquire a 26 percent stake on a fully diluted basis in AMPSolar Power Systems for a cash consideration of up to Rs 12.90 crore.
Cipla: The drug firm has signed an agreement to acquire a 26 percent stake on a fully diluted basis in AMPSolar Power Systems for a cash consideration of up to Rs 12.90 crore.
Reliance Capital: The company said it will exit the mutual funds business by selling its stake in Reliance Nippon Life Asset Management Ltd (RNAM) to its joint venture partner Japan's Nippon Life Insurance. Reliance Capital said it has signed binding definitive agreements with Nippon Life Insurance of Japan
Reliance Capital: The company said it will exit the mutual funds business by selling its stake in Reliance Nippon Life Asset Management Ltd (RNAM) to its joint venture partner Japan's Nippon Life Insurance. Reliance Capital said it has signed binding definitive agreements with Nippon Life Insurance of Japan
Novartis India: The firm reported a 26.21 percent decline in net profit at Rs 19.53 crore for the quarter ended March 31, compared to a profit of Rs 26.47 crore in the year-ago period. Revenue from operations stood at Rs 110.38 crore as against Rs 125.32 crore a year ago.
Novartis India: The firm reported a 26.21 percent decline in net profit at Rs 19.53 crore for the quarter ended March 31, compared to a profit of Rs 26.47 crore in the year-ago period. Revenue from operations stood at Rs 110.38 crore as against Rs 125.32 crore a year ago.
Adani Green Energy: The company said its promoters' stake has come down to 80.9 percent from 86.50 percent earlier following an offer for sale. Two promoter entities, Adani Tradeline LLP and Universal Trade and Investment, sold 8.75 crore shares having a face value of Rs 10 each of Adani Green under offer for sale on May 21-22 to meet minimum shareholding norms. (Image: CNBC-TV18)
Adani Green Energy: The company said its promoters' stake has come down to 80.9 percent from 86.50 percent earlier following an offer for sale. Two promoter entities, Adani Tradeline LLP and Universal Trade and Investment, sold 8.75 crore shares having a face value of Rs 10 each of Adani Green under offer for sale on May 21-22 to meet minimum shareholding norms. (Image: CNBC-TV18)
Hindustan Copper Ltd: The state-owned company said that its board will consider increasing borrowing limits from the existing Rs 1,500 crore to Rs 2,500 crore. (stock image)
Hindustan Copper Ltd: The state-owned company said that its board will consider increasing borrowing limits from the existing Rs 1,500 crore to Rs 2,500 crore. (stock image)
MOIL Ltd: The company has signed a memorandum of understanding with the ministry of steel envisaging production target of 14.75 lakh tonnes of manganese ore and capex target of Rs. 210 crores. (Image: Company)
MOIL Ltd: The company has signed a memorandum of understanding with the ministry of steel envisaging production target of 14.75 lakh tonnes of manganese ore and capex target of Rs. 210 crores. (Image: Company)
Results: Grasim, JSW Steel, Ashok Leyland, Bata, IGL, IDFC Ltd, Birlasoft Ltd, REC LTD, NCC Ltd, Page Industries, Dish TV HUDCO, Coffee Day, Fortis, Welspun India, Narayana Hrudayalaya, Salzer Electronics, Advanced Enzyme Technologies, Astrazeneca Pharma India, Dixon Tech, GIC Housing Finance, GVK Power, Heidelbercement India, Jai Corp, Jindal Stainless, Liberty Shoes, Meghmani Organics, Nesco Ltd, PNC Infratech, Punjab & Sind Bank, Rolta India, Whirlpool Of India, Unichem Lab, TPL Plastech, TCI, Sudarshan Chemical, Panama Petrochem, OnMobile, Noida Toll bridge, Nagarjuna Fertilizers, Mawana Sugar, Camlin Fine Sciences, Emmbi Industries, EXCEL INDUSTRIES, FDC, Flexituff Ventures International Ltd, Oswal Greentech, Butterfly Gandhimathi Appliances, Goodricke, Kanoria Chemicals. (stock image)
Results: Grasim, JSW Steel, Ashok Leyland, Bata, IGL, IDFC Ltd, Birlasoft Ltd, REC LTD, NCC Ltd, Page Industries, Dish TV HUDCO, Coffee Day, Fortis, Welspun India, Narayana Hrudayalaya, Salzer Electronics, Advanced Enzyme Technologies, Astrazeneca Pharma India, Dixon Tech, GIC Housing Finance, GVK Power, Heidelbercement India, Jai Corp, Jindal Stainless, Liberty Shoes, Meghmani Organics, Nesco Ltd, PNC Infratech, Punjab & Sind Bank, Rolta India, Whirlpool Of India, Unichem Lab, TPL Plastech, TCI, Sudarshan Chemical, Panama Petrochem, OnMobile, Noida Toll bridge, Nagarjuna Fertilizers, Mawana Sugar, Camlin Fine Sciences, Emmbi Industries, EXCEL INDUSTRIES, FDC, Flexituff Ventures International Ltd, Oswal Greentech, Butterfly Gandhimathi Appliances, Goodricke, Kanoria Chemicals. (stock image)
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