Overnight Digest – Stocks to look out for on July 14

The stocks which could witness a significant movement on July 14 are Indian Hotels Company, Tata Consultancy Services, Patel Engineering, Adani Transmission and NTPC/Coal India/Indian Oil.

Indian Hotels Company: according to media reports, Tata Group’s Indian Hotels Company sold its U.S. property Taj Boston for Rs 839 crore. The sale proceeds will be used by the company to repay its debts. The stock may react in Thursday’s session.

TCS: Tata Consultancy Services will be the first IT frontliner to post its result on July 14. Revenue growth is likely to remain stable but may get a hit in profit terms due to employee salary hikes and visa costs. The stock is likely to remain volatile in Thursday’s session.

Patel Engineering: According to the media reports, the lenders of the company majorly the ICICI Bank, Bank of India, Dena Bank, Canara Bank and Bank of Baroda are likely to discuss debt restructuring under S4A (scheme for sustainable structuring of stressed assets).

Adani Transmission: Global agency Moody’s is said to have assigned a ‘stable’ outlook i.e. Baa3 to its senior secured bonds which would be utilised by the company to partially refinance its bank loan facilities. The stock may see some positive move in the coming sessions.

NTPC/Coal India/Indian Oil: The three public sector utilities are likely to form a special purpose vehicle (SPV) to recover the fertiliser units in Uttar Pradesh with the approval of Union Cabinet.