After the Sensex and the Nifty wrapped up last week closing marginally lower (down 0.2% during the week), analysts expect stock markets to remain in a consolidation mode in the coming week. The focus would be on the March quarter earnings, general elections, and the movement in crude oil prices and the rupee. Share markets will have only three trading days this week, with Monday and Wednesday being holidays due to general elections in Mumbai and Maharashtra Day, respectively.
Here are the stocks that are likely to see strong activity on their counters this week:
— Yes Bank Ltd shares may witness a knee-jerk reaction when they open for trade on Tuesday morning after the bank reported an unexpected loss in the first earnings released under new chief executive officer Ravneet Gill. The private lender’s loss stood at Rs1,506 crore in the quarter ended March as bad loans and provisions surged. In the fourth quarter, provisions of Rs3,662 crore were set aside compared to Rs550 crore in the previous quarter. Yes Bank shares fell 7% over the last week.
— Hero Motocorp shares may also come under pressure as the two-wheeler maker posted 25% year-on-year drop in its March quarter profit to Rs730.32 crore due to weak sales numbers. Revenue fell 7.92% to Rs7,885 crore year-on-year.
— Key earnings: Ambuja Cements, Kotak Mahindra Bank, TVS Motor, Britannia Industries, Bandhan Bank, Dabur India, MRF, Tata Power and Hindustan Unilever will be the key companies releasing their earnings this week, the effect of which will show on the respective stock prices.
— Auto shares would remain in focus amid the monthly sales data announcement. Tata Motors and Maruti Suzuki shares had a tough last week, with both the shares sliding over 8% during the period.
— Tata Steel Ltd shares would be in focus after the stock on Friday saw its best day in nearly two years (up 6.8%). The steel maker
reported close to 26% year-on-year growth in group revenue during the March quarter on strong volume growth.
— Aurobindo Pharma shares are also likely to see some action after the stock had hit 31-month high on Friday, rising 5% in intraday trade, as global research house Citi reiterated the stock as one of its two top picks in Indian pharmaceutical space.
— Shares of oil marketing companies like HPCL, BPCL and IOC would track the crude price movement this week. HPCL shares had gained 6% in the last week following a fall in global crude oil prices. Crude oil prices dipped on Friday as US President Donald Trump pressed Opec to lower prices.
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