Overnight Digest – Stocks to look out for on May 9

The stocks which could see a significant movement on May 9 are Pfizer, Cognizant, BHEL, Federal Bank, Grasim Industries, HUL.

a) Pfizer: Company on May 6 post market hours has declared its Q4FY16 results. The results are fairly positive with EBITDA up by 23.9 per cent. On a (YoY) basis the revenue is up by 12 per cent, it is quite likely that the scrips will react to results.

b) Cognizant: With IT giants posting a mixed result, Cognizant Technology saw a rise of 10 per cent in the revenue. The stock on May 6 closed at Rs 57.59, up by 0.09 per cent.

c) BHEL: Bharat Heavy Electrical Limited announced the commissioning of a 500 Mw thermal unit in Jharkhand. The scrip could see a movement on May 9. The stocks on Friday closed at Rs 126.75.

d) Federal Bank:  With the banking stocks having been volatile for the week, Federal Bank comes up with positive news. The Kerala based bank has tied up with US based payments company for faster International Remittance.

e) Grasim Industries ; HUL: Both the companies will declare their Q4FY16 results on May 7 and May 9 respectively. The results of both the companies are expected to be positive. Both the stocks would be decisive and may give a positive start to SENSEX and Nifty.