Shares of Lupine, Sun Pharma and PFC may gain momentum on May 29
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Sun Pharma has shown interest in buying the remaining shares in Israeli company Taro Pharmaceutical Industries. The deal will be valued at $38 per share, a 31.2 per cent premium to Taro’s May 25 closing price. Dalmia Cement (North East), a subsidiary of Dalmia Cement, has approved capital expenditure of Rs 3,642 crore. Engineers India’s March quarter profit jumped 140.3 per cent to Rs 190.2 crore. State-run non-banking lender Power Finance Corporation (PFC) Ltd reported a 42.66 per cent year-on-year rise in net profit to Rs 6,128.63 crore in the fourth quarter of the last financial year.
Which stocks will remain volatile
According to the momentum indicator MACD, the shares of Zomato, Zee Entertainment, IDFC First Bank, NALCO and Indus Towers may gain momentum. On the other hand, Coffee Day Enterprises, KPI Green Energy, NCL Industries, Cyient and Sobha may decline.
Result of these companies
On 29 May Ipca Laboratories, Indian Railway Catering and Tourism Corporation, Adani Transmission, Allcargo Logistics, Ansal Housing, Bajaj Hindusthan Sugar, Campus Activewear, Force Motors, HeidelbergCement India, Hikal, ITI, Jubilant Pharmova, KNR Constructions, Natco Pharma, NBCC ( India), NHPC, The New India Assurance Company, Rail Vikas Nigam, Shriram Properties, Sobha, Specialty Restaurants, TCNS Clothing, Torrent Power, Vadilal Industries, Vijaya Diagnostic Center and Zee Media Corporation will announce their quarterly results.
How will the direction of the market be decided?
The direction of local stock markets this week will be determined by macroeconomic data, monthly data on vehicle sales, FII inflows and global trends. Analysts have expressed this opinion. Everyone’s eyes will also be on America’s loan agreement and institutional flow. Participants will also be watching US macroeconomic data, bond yields, movement of dollar index and crude oil prices. On the domestic front, Gross Domestic Product (GDP) figures and vehicle sales figures will be important. This week will be the beginning of a new month. In such a situation, market participants will be watching the vehicle sales, manufacturing PMI and service PMI data. Before this, the GDP figures are to come on 31 May.
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