The benchmark indices closed lower by a huge 4 per cent this week. In fact, this was the worst week we have seen in almost 18 months for the markets. Here are a few stocks that you could watch for next week.
Bank of Baroda
Bank of Baroda declared quarterly results after close of markets hours and hence the stock is expected to react to its results on Monday. Gross non performing assets of the bank jumped to 11.40 per cent (quarter ending June 30, 2017) from 10.46 per cent in the previous quarter ending March. This could drag the stock of Bank of Baroda lower. Net profits of the bank rose to Rs 203 crores for the quarter ending June 30, 2017. In all probability if sentiments are weak for the markets, the stock would drop in trade. It has already slumped 4 per cent on Friday and has been consistently trading lower in the past. The shares last closed at Rs 142.
State Bank of India
The country's largest bank reported numbers a few hours after market closing on Friday. So, there will be more volatility in the stock, as analysts from mutual funds and FPIs would have now have digested the results. There are already "buy" and "sell" calls on the counter. The near 10 per cent gross NPA was a shocker for the markets. The stock had slumped 5.5 per cent on Friday and closed at Rs 280. Watch for more volatility in the stock. The whole PSU banking stock has been dragged down by the quarterly numbers of State Bank of India.
Apollo Hospitals is slated to declare its quarterly numbers on Aug 14. It is unlikely that we would see a superlative set of quarterly numbers from the hospital. Shares of Apollo Hospitals have not fallen a great deal and were last trading at Rs 1,211 on the NSE.
52-week low stocks
If market sentiments are weak, we might see stocks that have plunged to 52-week low slide even further. Among these include names like TTK Healthcare, PI Industries, Blue Dart and Keval Kiran. It is always dangerous to catch a falling knife and investors may have to check the fundamentals of some of these before investing.
Watch for these pharma stocks
Pharma stocks have fallen through the roof and several of them are now available at 52-week lows. Some of these include names like Dr. Reddy's, Glenmark Pharma, Wockhardt, Eris Lifesciences, Sun Pharma, Ipca Laboratories etc. among others. In fact, a stock like Eric Lifesciences which was trading way over the IPO price has now plunged to Rs 525. Further weakness in some of these stocks cannot be ruled out.