The market continued its aggressive buying in the two-hour special trading session. The Nifty closed above the 6100 for the first time since January 4, 2011. The Nifty ended the day at 6107.25, up 12.50 points while the Sensex surged 60.28 points to close at 20142.90. This was a spectacular week for the market as investors’ hunger for stocks kept rising, taking the both the Sensex and Nifty up 2.8 percent each. So, here are the stocks which are liekly to be focus in next week's trading.
MMTC Amid downtrend in gold prices, state-run MMTC is expecting its gold jewellery and silver sales to double to Rs 30 crore during a five-day exhibition organised to mark the Akshaya Tritiya festival. The PSU had seen a sale of Rs 14 crore during the gold sale festival organised during last year Akshaya Tritiya feastival. Akshaya Tritiya is on May 13 and is considered to be an auspicious day for buying precious metals in Hindu culture. Other gold companies like Titan Industries, Gitanjali Gems, TBZ, Shree Ganesh and PC Jewellers are expected to be in focus.
NHPC Inter-ministerial group (IMG) will decide on NHPC divestment on Monday. The government is keen on divesting 10% in NHPC in FY14. The government holds 86.36% stake in NHPC.
Dena Bank State-owned Dena Bank's fourth quarter (January – March) net profit dropped 51 percent year-on-year to Rs 126 crore, dented by higher provisions that shot up 17 percent y-o-y to Rs 342 crore. Net interest income fell 6 percent y-o-y to Rs 562 crore during the quarter.
Fortis The healthcare major's Institutional private placement (IPP) will open on May 13 in the price band of Rs 87-92. It is raising about USD 70 million through IPP route by divesting between 8-10% equity shares. The IPP is aimed at bringing down promoters holding to 75% from current level of about 81%.
Earnings Following companies are expected to announce March quarter earnings in the upcoming week: Bank of India, Bank of Baroda, Eicher Motor, Nestle India, Reliance Power, Rashtriya Chemical, Tata Coffee, Tata Tele, Dr Reddy’s lab, Muthoot Finance, Pfizer, Reliance Infra, United Bank, Adani Ports and J&K Bank.