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Stocks To Watch Out For Next Week
The Sensex and the Nifty gained 1.7 per cent this week, on the back of heavy buying by domestic institutions in the market. Foreign Portfolio Investors, continued to be net sellers in the markets. Here are a few stocks that you should watch-out for in trade next week.
Canara Bank
Canara Bank reported numbers after markets hours on Friday. On Monday, even if the markets are on a firm-footing, expect this stock to react negatively. Canara Bank reported a net loss of Rs 4,859.77 crore for the fourth quarter ending March 2018 due to three-fold rise in provisions towards bad loans.
Check stock quote of Canara Bank here
Karnataka Bank
This is another stock to watch-out for on Monday, as the bank is expected to declare results on the same day. Peers like Federal Bank and most government owned banks have reported a poor set of numbers. So, it would be interesting to watch for the financial performance of Karnataka Bank and also the stock movement.
Expect volatility. The shares last closed at Rs 113.50 on the NSE. Check stock quote of Karnataka Bank here
PC Jeweller
This stock had a stellar rally this week, doubling in price in just three trading sessions. Investors are increasingly viewing this stock with great speculative interest. The board of the company only recently announced a buyback of shares at a price of Rs 350, per share. Quarterly numbers are slated later this month.
On account of the buyback the share price may stay supported. However, expect increased volatility in the stock going ahead.
Check stock quote of PC Jeweller here
Hindustan Unilever
HUL, India's top FMCG company will report numbers on Monday. Investors would be keen to study the volume growth and the impact of margins and input costs. The shares of the company were last clsoed at Rs 1506 on Friday.
HPCL, BPCL, Indian Oil
Watch closely for the stocks of oil marketing companies, which are likely to be increasingly volatile in the coming days. On Friday, crude oil prices dropped, which would hence provide support to the stocks of oil marketing companies on Monday.
Overall, markets are expected to be volatile ahead of the Karnataka election results to be announced on Tuesday.
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