Indian equity benchmark indices recorded their worst week in the around two weeks falling around 2 per cent last week. On Friday, the indices settled in green after losing for five consecutive sessions, led by gains in Bharat Petroleum Corporation and Hero MotoCorp.
The BSE Sensex gained 248.45 points or 0.34 per cent to settle at 72,652.62. The NSE Nifty ended 97.10 points or 0.44 per cent higher at 22,054.60. The sector-wise it was a mixed bag with momentum seen in metals, oil & gas, FMCG, healthcare, and auto. While selling was witnessed in Tech, real estate, and banking stocks. Metals stocks were witnessing buying after base metal prices rallied in LME including copper, zinc, and precious metals like gold and silver. Volatility continued to remain at elevated levels with India's VIX at 18.5 at a 52-week high.
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“Heavy FII selling, and concerns over the outcome of ongoing general elections added to the overall pressure in the markets. Result season has picked up pace with a lot of heavyweight results leading to stock-specific action. The fourth phase of the ongoing Lok Sabha election will be held on Monday 13th May may add to some volatility. Overall, we expect the market to consolidate in a broader range and take cues from Q4 results, global factors and news flows around the general election,” said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd.
Here are the key stocks to watch on May 13:
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Tata Motors: The company reported a consolidated net profit of Rs 17,407.18 crore, up 222 per cent compared to Rs 5,407.79 crore reported in the year-ago period. Revenue from operations surged 13 per cent to Rs 119,986.31 crore for the reported quarter compared to Rs 105,932.35 crore in the year-ago period.
Eicher Motors: The automobile major reported a 32 per cent YoY growth in standalone net profit to Rs 983.3 crore on account of strong operating numbers. Revenue from operations jumped 9.4 per cent YoY to Rs 4,192 crore in the reported quarter.
Union Bank of India: The public sector bank recorded a 19 per cent YoY growth in net profit to Rs 3,311 crore for the March quarter. Net interest income (NII) grew by 14.4 per cent YoY to Rs 9,437 crore for the quarter. Asset quality improved with gross NPA falling 7 bps QoQ to 4.76 per cent and net NPA falling 5 bps to 1.03 per cent for the quarter.
Piramal Pharma: The company reported a 102.1 per cent YoY rise in net profit to Rs 101.3 crore. Revenue from operations grew 18 per cent to Rs 2,552.4 crore, compared to Rs 2,163.6 crore in the same period of the previous financial year.
Housing and Urban Development Corp: The company has signed a pact with Surat Integrated Transportation Development Corp for the development of the Surat Multi-Modal Transportation Hub.
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