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Top stocks to watch out for on May 31: Tata Steel, PSU banks, Lupin, SAIL, RCom, Infibeam

Updated : 2019-05-31 07:33:50

Indian shares are set to open flat on Friday ahead of fourth-quarter gross domestic product (GDP) data due to be released after 5.30 PM today. The median forecast in the latest Reuters poll showed the economy was expected to have grown 6.3 percent in the January-March quarter, the slowest annualised pace in nearly two years. Asian stocks and US futures tanked over concerns of a slowdown in the global economy after US President Donald Trump opened a new front in the trade war by slapping new tariffs on Mexico goods. Indian benchmark indices BSE Sensex and NSE’s Nifty 50 settled at record high levels in the previous session led by IT and banking stocks. At 7.20 AM, the SGX Nifty traded 11.5 points, or 0.10 percent, higher, pointing to a flat start for the Sensex and the Nifty. Here are the top stocks to watch in today's trade:

Fitch Ratings affirmed long-term issuer default ratings of six banks including State Bank of India, Bank of Baroda and Punjab National Bank at 'BBB-', with stable outlook. The agency also affirmed BBB- rating of Bank of Baroda (New Zealand), Canara Bank and Bank of India (BOI). (Image: Reuters)
Fitch Ratings affirmed long-term issuer default ratings of six banks including State Bank of India, Bank of Baroda and Punjab National Bank at 'BBB-', with stable outlook. The agency also affirmed BBB- rating of Bank of Baroda (New Zealand), Canara Bank and Bank of India (BOI). (Image: Reuters)
Lupin: The USFDA has cautioned that the firm's Goa facility may be subject to regulatory or administrative action and it may withhold approval of any pending applications or supplements in which this facility is listed. The Mumbai-based drugmaker, however, said it does not believe that the classification would have an impact on supplies or the existing revenues from operations of this facility. (Image: Reuters)
Lupin: The USFDA has cautioned that the firm's Goa facility may be subject to regulatory or administrative action and it may withhold approval of any pending applications or supplements in which this facility is listed. The Mumbai-based drugmaker, however, said it does not believe that the classification would have an impact on supplies or the existing revenues from operations of this facility. (Image: Reuters)
Tata Steel: The National Company Law Tribunal (NCLT) on Thursday approved the resolution plan of Tata Steel to acquire debt-ridden Bhushan Energy Ltd for around Rs 800 crore. The principal bench of NCLT Delhi also rejected objections from Bhushan Energy's former promoter Neeraj Singal opposing Tata Steels' bid. (Image: Reuters)
Tata Steel: The National Company Law Tribunal (NCLT) on Thursday approved the resolution plan of Tata Steel to acquire debt-ridden Bhushan Energy Ltd for around Rs 800 crore. The principal bench of NCLT Delhi also rejected objections from Bhushan Energy's former promoter Neeraj Singal opposing Tata Steels' bid. (Image: Reuters)
Dr Reddy’s Laboratories: The drug company received the Establishment Inspection Report (EIR) from the USFDA for API manufacturing plant at Miryalaguda, indicating closure of the audit and the inspection classification of this facility is determined as Voluntary Action Initiated. (Image: Reuters)
Dr Reddy’s Laboratories: The drug company received the Establishment Inspection Report (EIR) from the USFDA for API manufacturing plant at Miryalaguda, indicating closure of the audit and the inspection classification of this facility is determined as Voluntary Action Initiated. (Image: Reuters)
Ramco Cements: The company launched a new product RAMCO SUPERCRETE—a new premium blended cement. (Image: Company)
Ramco Cements: The company launched a new product RAMCO SUPERCRETE—a new premium blended cement. (Image: Company)
Bharti Airtel: The telecom operator said its average revenue per user rose by 6.5 percent to Rs 123 in the January-March quarter which is still not at
Bharti Airtel: The telecom operator said its average revenue per user rose by 6.5 percent to Rs 123 in the January-March quarter which is still not at "sustainable" level for the sector. The company's loss from India mobile services business more than doubled to Rs 1,377.8 crore in January-March 2019 compared with Rs 482.2 crore loss last year.
Reliance Communications: Doha Bank approached the National Company Law Tribunal (NCLT) to seek stay on a decision of the committee of creditors (CoC) of Reliance Infratel (RITL).  The counsel for Doha Bank claimed that the creditors' panel has considered the claims of lenders of parent firm RCom on the basis of corporate guarantee of RITL which would reduce its voting share in the CoC. The counsel claimed to be direct lenders and said as a syndicate of four banks, it had lent Rs 1,400 crore to RITL. (Image: Reuters)
Reliance Communications: Doha Bank approached the National Company Law Tribunal (NCLT) to seek stay on a decision of the committee of creditors (CoC) of Reliance Infratel (RITL).  The counsel for Doha Bank claimed that the creditors' panel has considered the claims of lenders of parent firm RCom on the basis of corporate guarantee of RITL which would reduce its voting share in the CoC. The counsel claimed to be direct lenders and said as a syndicate of four banks, it had lent Rs 1,400 crore to RITL. (Image: Reuters)
Infibeam Avenues: Consolidated net profit grew manifold to over Rs 75 crore during the March 2019 quarter, compared to Rs 22 crore a year ago. The company's income from operations increased by 24.8 percent to Rs 297.7 crore in the said quarter, compared with Rs 238.4 crore in the year-ago period.
Infibeam Avenues: Consolidated net profit grew manifold to over Rs 75 crore during the March 2019 quarter, compared to Rs 22 crore a year ago. The company's income from operations increased by 24.8 percent to Rs 297.7 crore in the said quarter, compared with Rs 238.4 crore in the year-ago period.
SAIL: The country's largest steelmaker said its standalone net profit fell by 42.57 percent to Rs 468.40 crore for the fourth quarter ended March 31, due to higher expenses. The standalone total income increased to Rs 18,752.36 crore from Rs 17,264.86 crore in the year-ago period. (Image: Reuters)
SAIL: The country's largest steelmaker said its standalone net profit fell by 42.57 percent to Rs 468.40 crore for the fourth quarter ended March 31, due to higher expenses. The standalone total income increased to Rs 18,752.36 crore from Rs 17,264.86 crore in the year-ago period. (Image: Reuters)
L&T/Mindtree: Larsen and Toubro acquired about 27,000 shares of Mindtree from open market, raising its shareholding in the IT services firm to 28.88 percent.
L&T/Mindtree: Larsen and Toubro acquired about 27,000 shares of Mindtree from open market, raising its shareholding in the IT services firm to 28.88 percent.
NIIT Tech: Hulst BV has acquired an additional 1.85 lakh shares of NIIT Technologies from the open market, taking its shareholding in the mid-sized Indian IT firm to over 33 percent. (Image: Company)
NIIT Tech: Hulst BV has acquired an additional 1.85 lakh shares of NIIT Technologies from the open market, taking its shareholding in the mid-sized Indian IT firm to over 33 percent. (Image: Company)
NALCO: National Aluminium Co Ltd posted a 9.1 percent decline in standalone profit to Rs 233.5 crore in the quarter ended March 31. The standalone revenue from operations in the quarter declined to Rs 2,766.2 crore, compared with Rs 2,863.1 crore in the year-ago period. (Image: Reuters)
NALCO: National Aluminium Co Ltd posted a 9.1 percent decline in standalone profit to Rs 233.5 crore in the quarter ended March 31. The standalone revenue from operations in the quarter declined to Rs 2,766.2 crore, compared with Rs 2,863.1 crore in the year-ago period. (Image: Reuters)
Suzlon Energy: Consolidated net loss for the March quarter narrowed to Rs 294.64 crore from Rs 469.85 crore a year ago, mainly due to lower expenses. Total consolidated income from operations declined to Rs 1,450.47 crore in the fourth quarter of 2018-19, compared to Rs 2,189.18 in the year-ago period.
Suzlon Energy: Consolidated net loss for the March quarter narrowed to Rs 294.64 crore from Rs 469.85 crore a year ago, mainly due to lower expenses. Total consolidated income from operations declined to Rs 1,450.47 crore in the fourth quarter of 2018-19, compared to Rs 2,189.18 in the year-ago period.
Coal India: State-owned CIL posted an over a four-fold rise in consolidated profit at Rs 6,024.2 crore for March 2019 quarter on the back of higher sales and lower expenses. Consolidated sales of the country's largest miner during the January-March quarter stood at Rs 26,704.2 crore, an increase of 7.9 percent.
Coal India: State-owned CIL posted an over a four-fold rise in consolidated profit at Rs 6,024.2 crore for March 2019 quarter on the back of higher sales and lower expenses. Consolidated sales of the country's largest miner during the January-March quarter stood at Rs 26,704.2 crore, an increase of 7.9 percent.
Berger Paints: The company reported an increase of 4.91 percent in its consolidated net profit to Rs 111.43 crore for the fourth quarter ended on March 31. Its revenue from operations during the quarter was up 13.38 percent to Rs 1,472.09 crore as against Rs 1,298.27 crore in the corresponding quarter of the previous year. (Image: Company)
Berger Paints: The company reported an increase of 4.91 percent in its consolidated net profit to Rs 111.43 crore for the fourth quarter ended on March 31. Its revenue from operations during the quarter was up 13.38 percent to Rs 1,472.09 crore as against Rs 1,298.27 crore in the corresponding quarter of the previous year. (Image: Company)
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