Overnight Digest – Stocks to look out for on August 23

The stocks which could witness a significant movement on August 23 are Hindustan Copper, IL&FS Engineering, Gillette India, Welspun India and Tata Power.

a) Hindustan Copper:  Company on Aug 22 has declared its Q1FY17 results. In Q1FY17, company has reported a net loss of Rs 2.88 crore. Total income of the company has fallen to Rs 206.23 crore in Q1FY17.

b) IL&FS Engineering and Construction Company: IL&FS Engineering Services along with its joint venture partner Unitech Power Transmission has bagged a contract worth Rs 136.26 crore from Power Grid Corporation for a project in Gujarat.

c) Gillette India: Q1FY17 results are expected tomorrow. It could be interesting to watch the results. However in Q1FY16, company has reported a net profit of Rs 72.83 crores.

d) Welspun India:  Stocks of the company on Aug 22, have hit the lower circuit as the company’s second largest customer Target Corp., has ended all ties with the company. Target Corp, believes that Welspun has supplied cheaper cotton on the name of Egyptian cotton.

e) Tata Power: Company will also declare its Q1FY17 results on August 23. The scrip of the company closed at Rs 77.25, marginally down by 0.90 per cent.