Overnight Digest – Stocks to look out for on July 18

The stocks which could witness significant movement on July 18 are Monsanto India Ltd., Gujarat State Petronet Ltd., Reliance Industries Ltd., Larsen & Toubro Ltd., Hindustan Unilever Ltd./ Mindtree Ltd./Gruh Finance Ltd./Exide Industries Ltd.

Monsanto India: Monsanto India announced that Monsanto Company (NYSE) has received a revised non-binding proposal from Bayer AG for a potential acquisition of Monsanto. Earlier in May 2016, Monsanto had viewed the proposal to be incomplete and inadequate.

Gujarat State Petronet Ltd., (GSPL): GSPL India Transco Ltd., a subsidiary of GSPL signed a Gas Transportation Agreement with Ramagundam Fertilisers and Chemicals Limited (RFCL) to supply two million metric standard cubic meters per day of natural gas to RFCL for 20 years.  

Reliance Industries: Energy giant Reliance Industries has posted Q1FY17 results with a drop in YoY revenues by 15 per cent to Rs 64990 crores while net profits have grown by 19.9 per cent to Rs 7464 crores. The stock may see some upside in the next trading session.

Larsen & Toubro: According to media reports, two days after the subscription of L&T Infotech IPO by more than 11 times, L&T is now mulling to sell 15 per cent stake in its arm L&T Technology Services through initial public offering. L&T is likely to remain in the limelight in the coming trading sessions.

HUL/Mindtree/Gruh Finance/Exide Industries: The stocks of Hindustan Unilever/Mindtree/Gruh Finance/Exide Industries are likely to remain volatile and drive the markets on July 18 on account of announcement of their quarterly results.