May 29: Here are the top stocks to watch out for today

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian market began the expiry week on a positive note on Monday with the Sensex and the Nifty closing at 2-week highs.

Here are the top stocks to watch out for

• M&M:  Mahindra and Mahindra (M&M) will launch at least three new models and recast its dealer partnerships as it looks to regain market share in the run-up to the festive season, sources said. The firm will also announce its quarterly results today.
• Vedanta: The Tamil Nadu government has ordered the permanent shutdown of Vedanta Resources’ Sterlite plant at Tuticorin on Monday.
• Fortis Healthcare: The company said on Monday it had not decided whether to re-open bidding for itself, after an offer of funding that its board had accepted got a tepid response from investors, prolonging a fierce takeover battle.
• Aurobindo Pharma: The company posted a 0.6% fall in fourth-quarter net profit on Monday that missed analysts’ estimates.
• UltraTech: The lenders of the debt-ridden cement-maker, Binani Cement,  have approved Ultratech Cement’s resolution plan for the company.
• Ruchi Soya:  Ruchi Soya’s lenders are all set to select the highest bidder for the company in five days. The Committee of Creditors will vote on offers from Patanjali Group and Adani Wilmer, sources said.
• Jet Airways: Credit rating firm ICRA has downgraded Jet Airways on the company’s weakened financial performance in the previous quarter.
• Manpasand Beverages: The company hit the lower circuit, trading at a 20% loss after Deloitte resigned as its auditor on Saturday.
• Reliance Communications: The NCLAT will hear the telco’s appeal which seeks a stay on NCLT Mumbai’s order which had allowed an insolvency plea by Ericsson.
• Bank of India: The bank reported a net loss of 39.69 billion rupees ($588.87 million) for the fourth quarter, as the state-owned lender set aside more funds for bad loans.
• L&T: Engineering and construction major Larsen & Toubro on Monday said its consolidated net profit for the March quarter rose 4.7% from a year earlier at Rs 3,167 crore.
• On the earnings front, BPCL, M&M, BHEL, BEL, Coal India, Dish TV, Dilip Buildcon, Power Grid, Eveready, Force Motors, Glenmark, among others will declare their quarterly results.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow