Overnight Digest – Stocks to look out for on May 6

The stocks which could see a significant movement on May 6 are:

a) Geometric Limited: In the wake of HCL Technologies' acquisition of Geometric, and the signing of the agreement thereof, investors are awaiting the results of Geometric which are to be released tomorrow.

b) Bharti Airtel Limited: Airtel divests nearly 950 towers across DRC to Helios Towers Africa. The deal is likely to help Airtel deleverage through debt reduction and reduced ongoing capital expenditure. Hope to see a good move in tomorrow’s session.

c) SBI/ICICI/BOB: Loksabha passed ‘Bankruptcy Law’ on May 5. The banking sector may get relief  from struggling with huge Non-Performing Assets (NPAs) situation. The banking stocks like SBI, PNB, IDBI Bank, Bank of Baroda, ICICI Bank will be watched out during May 6 trading session.

d) Godrej Consumer Products Limited: The Company announced acquisition of 75 per cent equity stake in Kenya based, Canon Chemicals to build its presence in Sub-Sahara African Markets. The stock is already in the limelight with its better than expected results.

e) NMDC:  Government owned NMDC has cut iron ore prices of fines with low Fe content by 11 per cent for May, to match with prices abroad; and prices for those with high grade iron ore by 4 per cent to encourage sale of raw material for domestic steel mills. Stock may see a movement tomorrow.