Overnight Digest – Stocks to look out for on July 22

Bhagyashree Vivarekar / 21 Jul 2016

Overnight Digest – Stocks to look out for on July 22

The stocks which could witness a significant movement on July 22 are Axis Bank, Coal India, Elder Pharmaceuticals, Neyveli Lignite Corporation and Gammon India.

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The stocks which could witness a significant movement on July 22 are Axis Bank, Coal India, Elder Pharmaceuticals, Neyveli Lignite Corporation and Gammon India

a) Axis Bank: The scrip has initiated a fall in July 21's session itself ahead of the results to be released on July 22. The stock was the top loser in Nifty50. The stock may see some more downside in tomorrow’s session.

b) Coal India: Power generation utilities all together owe Rs 12028 crore to Coal India and Coal India has been taking steps to recover the dues. The news may prove positive for the stock in coming sessions.

c)Elder Pharmaceuticals: Exchange has demanded clarification from Elder Pharmaceuticals regarding the news in media that the company is embroiled in the bribery case and ha been reported as the biggest defaulter, where Ministry has done nothing on it so far. The company is yet to provide clarification.

d)Neyveli Lignite Corporation: According to the media reports CCEA (Cabinet Committee on Economic Affairs) has approved 1980-mw Ghatampur thermal power project in UP. The project was proposed to be set up in joint venture with Uttar Pradesh Rajya Vidyut Utpadan Nigam limited through Neyveli’s subsidiary Neyveli Uttar Pradesh Power Limited.

e) Gammon India: Gammon India said in the media report that is likely to transfer Civil EPC undertaking to its unit Gammon Engineers and Contractors. The stock may react to the news in coming sessions.

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