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    Stocks in focus on May 17, 2018

    Synopsis

    Here is a list of top stocks that are likely to be in focus in today's trading session.

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    NEW DELHI: Domestic shares are likely to open on a flat note on Thursday, tracking Nifty on Singapore Stock Exchange (SGX) and global markets. At 08:00 am, the Nifty futures on SGX were trading 4.50 points or 0.04 per cent higher at 10,768.50.

    Here is a list of top stocks that are likely to be in focus in today's trading session -

    Tata Steel: Steel major Tata Steel on Wednesday posted a profit of Rs 10,187.23 crore for the quarter ended March 31, 2018 against a consolidated loss of Rs 725.14 crore in the corresponding quarter last year. ETNow poll had predicted a net profit of Rs 2,323 crore. The company received one-time exceptional gain of Rs 11,376.14 crore in March quarter. The exceptional gain includes a non-cash gain of Rs 14,077 crore on account of restructuring of UK pension scheme.

    NIIT: Skills and talent development company NIIT on Wednesday said its consolidated net profit declined by about 21 per cent to Rs 19.7 crore for the fourth quarter ended March 2018. The net profit is lower compared to Rs 25 crore in the year-ago period as there was positive impact of a 'one-time component in associate profit' in that quarter, the company said. Its revenue, however, increased by 6 per cent to Rs 222.8 crore in January-March of 2017-18 compared to Rs 209.4 crore in the year-ago period, NIIT said in a statement.

    Key Q4 earnings today
    Voltas, ICRA, Central Bank, Bajaj Finance, Bajaj Finserv, Alembic, Quess Corp, Balkrishna Industries, Lux Industries and Man Infra are some of the notable names scheduled to release their March quarter earnings on Thursday.

    Carborundum Universal: The new chairman of the Rs 300 billion Murugappa Group MM Murugappan said the conglomerate would invest Rs 2000 crore in capital expenditure over the next two fiscals. The capex, group CFO Sridharan Rangarajan said would be allocated towards a gas-based power plant in silicon carbide maker Volzhsky Abrasive Works (VAW), a Carborundum Universal (Cumi) subsidiary. The capacity of the gas fired power plant in Russia however has not been finalised, he said.

    Shriram Transport: Foreign brokerage Morgan Stanley has maintained 'overweight' rating on the stock and has set target price of Rs 2,000 per share. Shriram Transport is one of brokerge house's top picks. It says recent correction in the stock gives a good entry point.

    ITC: Global brokerages have given thumbs up to the stock post Q4 results. Morgan Stanley has maintained 'overweight' rating on the stock with target price of Rs 320 per share whereas Citi has maintained 'buy' with target price of Rs 350/share.

    JSW Steel: On a consolidated basis, net profit of JSW Steel rose 185.33 per cent to Rs 2,879 crore on 22.96 per cent rise in net sales to Rs 20,027 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 16 May 2018.

    Prataap Snacks: On a consolidated basis, net profit of Prataap Snacks declined 12.50 per cent to Rs 10.08 crore on 26.64 per cent rise in net sales to Rs 269.75 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 16 May 2018.

    Muthoot Finance: Net profit of Muthoot Finance rose 40.28 per cent to Rs 451.39 crore on 6.1 per cent decline in total income to Rs 1,608.03 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 16 May 2018.

    Divi's Laboratories:
    Divi's Laboratories announced that its Unit-I at Choutuppal, Telangana State has had an inspection by the US Food and Drug Administration (USFDA) from 14 to 16 May 2018. This was a general Current Good Manufacturing Practice (cGMP) inspection by the FDA. The inspection has been concluded with no 483 observations. The announcement was made after market hours yesterday, 16 May 2018.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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