 "Eleven stocks to watch out in trade today")
Here are some of the stocks that will be in focus in trade today:
Axis Bank may see some action after the bank reported higher NPAs in the fourth quarter. Gross NPAs increased to 1.67% of the total assets in the quarter, from 1.34% a year before. Net NPA rose to 0.7%, from 0.44%. Further, the bank expects bad loans to rise in fiscal 2017.
IDFC Bank reported weak fourth quarter earnings. The bank posted a net profit of Rs 165 crore, down 32% for the fourth quarter ended March compared to same quarter last fiscal.
Syngene International may firm up after it reported 18% increase in fourth quarter profits to Rs 66.5 crore and 31% growth in revenues to Rs 334 crore as business from contract research and manufacturing services from global pharma firms increased.
Bharti Infratel may see some action after it reported a 7% year-on-year growth in consolidated revenue for the March quarter at Rs 3,162 crore. Operating income grew nine per cent to Rs 1,444 crore.
State Bank of Mysore may see some weakness after it reported a 23 per cent dip in fourth quarter profits to Rs 105 crore on higher provisions for bad debts largely to the iron and steel industry.
State Bank of Travancore reported sharp drop in net profit for fourth quarter ended March 2016. Net profit slumped to Rs 62 cr from Rs 191 cr in January-March 2015 on over five-fold increase in provisions for bad loans. Provisions for bad loans shot up to Rs 520 crore from Rs 90 crore.
Biocon may gain after it reported 250% jump in fourth quarter profits to Rs 361 crore, and 17% increase in revenue to Rs 1,004 crore compared to the previous quarter. Biocon had reported profits of Rs 103 crore on revenue of Rs 854 crore in the January to March quarter last year.
Raymond is likely to firm up after fourth quarter net profit more than doubled to Rs 56.2 crore compared to Rs 21.5 crore in the same quarter last fiscal.
NHPC will be in focus after the offer for sale by the government. The floor price for the offer is Rs 21.75 per equity share
Yes Bank and Bharti Airtel will be in action ahead of its fourth quarter earnings later today.
