Overnight Digest – Stocks to look out for on May 2

The stocks which could see a significant movement on May 2 are Federal Bank, HDFC, Nestle, GIC Housing Finance Ltd, Asian Granito India Ltd.

a) Federal Bank: Federal Bank is expected to release its Q4FY16 results on May 2. With the Bank Nifty closing in the positive on April 29, it is expected that the stock could see a significant movement.

b) HDFC: The stock closed in the positive on April 29. The leading loan lender is expected to release its Q4FY16 results on May 2. The results are expected to be positive and therefore the stock could be the scrip to watch for.

c) Nestle: Nestle has informed the stock exchange about its new launch Nescafe Sun Rise Insta – Filter on April 29. The scrips are expected to see positive movement on May 2. The stocks closed around Rs 5743.85, which is down by 3 per cent.

d) GIC Housing Finance Ltd.: GIC on April 29 after the market have announced Q4FY16. With the Net profit on a (YoY) basis increasing by around 34 per cent, the scrip on May 2 can open in the positive.

e) Asian Granito India Limited:The firm has informed the exchanges that the 20 crore issue of commercial paper has been rated by ICRA. The firm could see a significant movement on May 2.