Overnight Digest – Stocks to look out for on July 11

The stocks which could witness significant movement on July 11 are IndusInd Bank, Vedanta, SRG Housing Finance, Birla Corporation and Network 18 Media & Entertainment.

IndusInd Bank: IndusInd Bank will be the first largecap company to post its Q1FY17 results on July 11.The street will remain cautious ahead of the non-performing loans of the Bank. The stock will remain volatile during the session.

Vedanta: According to the media report Vedantal, a metal major will be investing USD 1 billion for manufacturing of Zinc and Lead concentrates at Black Mountain Mining in South Africa. The stock to remain in the limelight in its coming sessions.

SRG Housing Finance: Brickwork rating agency upgraded SRG’s ratings for the Bank loan facilities of Rs 100 crores assigned by CARE as CARE BB+ to BWR BBB-. SRG Housing Finance provides housing finance for home ownership.

Birla Corporation: The shareholders of Birla Corporation raised concerns over its acquisition of Reliance Cement at Rs 4800 crores, in the AGM held on July 8. The concern was relating to the slow growth in cement and company’s financial downturn in March 2016. The stock may negate in the coming session.

Network 18 Media & Investment: As part of a joint venture between Network 18 and Viacom, Viacom 18 has launched a new entertainment channel in the name Colors Super to expand its presence in the Kannada market.