Overnight Digest – Stocks to look out for on June 1

The stocks which could witness significant movement on June 1 are Sanofi India Ltd., SBI, ONGC Ltd., Maruti Suzuki India Ltd., Torrent Power/NTPC.

a) Sanofi India Ltd.: Sanofi Pasteur, the vaccine division of Sanofi, announced that it has begun commercial manufacturing of its new vaccines' production facility. The company had invested Rs 250 crore on the new facility, which will initially produce the pentavalent vaccine Shan-5 and cholera vaccine Shanchol.

b) SBI:  State Bank of India on May 31 has announced that it plans to launch distress asset fund which could give big relief to mounting NPA. The Banking index has already rallied and has closed in the positive on Tuesday.

c) ONGC Ltd.: ONGC Videsh Ltd., (OVL), the overseas arm of state-run explorer Oil and Natural Gas Corporation (ONGC), has signed a Memorandum of Understanding (MoU) with SOCAR Trading SA. The objective is to explore possibilities of joint marketing of OVL's crude oil portfolio by leveraging SOCAR trading experience in oil trading.

d) Maruti Suzuki India Ltd.: After the Sunday fire episode in Subros Manesar plant, Subros the major supplier to the company has said it will start the supply to Maruti from Noida facilities. The stocks may react to the news and open in the positive.

e) Torrent Power/NTPC.: Coal output drops 0.9 per cent vs 1.7 per cent (MoM). The shares of the two major coal consumer’s Torrent Power and NTPC will react sharply on June 1.