Fifteen stocks in focus on Friday, 22 July 2016

NEW DELHI: The Indian market is expected to open flat on Friday tracking muted trend seen in other Asian markets.

"The formation of a Bearish Engulfing pattern on the Daily candlestick chart of Nifty 50, suggests that the immediate short term trend could be bearish," Venu Madhav, Chief Operating Officer, Zerodha told ETMarkets.com.

"However, the markets have been choppy and seem to be consolidating trading in the range of 8480 - 8590, not providing enough trading opportunities. The next push to the markets could come out of the decisions taken in the ECB meet slated to take place later today," he added.

Here is a list of top fifteen stocks that are likely to be in focus today:

ITC: Fast moving consumer goods company ITC Ltd on Thursday reported an increase of 10 per cent in stand-alone net profit at Rs.2,385 crore for the first quarter ended 30 June 2016.

ONGC: ONGC Videsh Ltd has raised $1 billion through a US dollar bonds issue to finance its acquisition of 15 per cent stake in Russia's second biggest oil field Vankor.

Cairn India: Cairn India on Thursday reported 28 per cent fall in its June quarter net profit as drop in oil prices wiped away gains made from operational efficiencies and cost cutting.

Ashok Leyland: ALL, the Hinduja group's flagship firm reported a smart turnaround when it beat street estimates and more than doubled net profit during the first quarter ending June 30 to Rs 290.78 crore.

Coal India: Power generation utilities owe Rs 12,028 crore to state-owned CIL as on March 31, Parliament was informed on Thursday.

NHPC: State-owned NHPC said it has entered into a pact with Bharat Heavy Electricals Ltd (BHEL) for undertaking hydro power projects in overseas markets.

Power Grid: Power Grid Corporation has approved investment of Rs 2,731 crore in various projects, including setting up of a transmission system for solar park at Bhadla in Rajasthan for Rs 1,429.38 crore

Piramal Enterprises: Piramal Enterprises said its board has approved raising up to Rs 1,000 crore through issue of non-convertible debentures.

Zensar Technologies: Zensar Technologies posted a flat net profit of Rs 76.2 crore for the quarter ended June 30, 2016 compared to that of Rs 76.1 crore in the year-ago period.

Syngene International: Biocon's contract research and manufacturing arm Syngene International reported 28.32 per cent rise in standalone net profit to Rs 59.8 crore for the quarter ended on June 30, 2016.

Raymond: Diversified group Raymond reported widening of its consolidated net loss at Rs 16.61 crore for the first quarter ended June 30, 2016.

Motilal Oswal Financial Services: MOSL reported a nearly three-fold jump in net profit at Rs 79 crore for the first quarter of the current fiscal.

Bharat Financial Inclusion Ltd: The erstwhile SKS Microfinance, reported a net profit of Rs 235.9 crore in the first quarter to June, a near four-fold rise over Rs 61.2 crore in the year-ago period. The steep rise in profit was due to a MAT (minimum alternative tax) credit of Rs 97 crore, the company said.

Gammon India: Debt-laden infrastructure firm Gammon India Ltd on Thursday reported consolidated net loss of Rs.502.51 crore for the 18-month period ended 31 March.

Adf Foods Ltd: The company has informed BSE that the meeting of the Board of Directors of the Company is convened to be held on Wednesday, July 27, 2016 at Mumbai will consider declaration of interim dividend or buy back of equity shares of the Company or a combination thereof.