Overnight Digest – Stocks to look out for on May 31

The stocks which could witness significant movement on May 31 are Wipro, Maruti Suzuki India Ltd., NTPC Ltd., NMDC Ltd., and Granules India Ltd.

a) Wipro: Company on May 30 has declared that it plans to increase the salary of their onsite and off-shore employees. The company will give a 2 per cent hike to its onsite employees and 9.5 per cent for its off-shore employees.

b) Maruti Suzuki India Ltd.: Country’s largest car maker Maruti Suzuki has temporarily suspended production at both of its plants as a fire broke down at its supplier’s factory on Sunday. 

c) NTPC Ltd.: NTPC Ltd., on May 30 post market hours has declared its Q4 results. For this quarter the company’s net profit has decreased by 8 per cent. The stock on Monday has closed 3 per cent higher at Rs 143.

d) NMDC Ltd.: The single largest producer of iron ore in the country has some divestment plans. Government has planned to reduce a 10 per cent stake in NMDC. The shares on bourses on Monday have closed at Rs 90.

e) Granules India Ltd.: The company has received Establishment Inspection Report (EIR) from US Food and Drug Administration (USFDA) for the inspection conducted at its Jeedimetla facility in December 2015. US FDA has made three observations and the company will respond to the observations made within 15 days.