Stocks to Watch on July 16

The markets for Monday showed a strong bullish trend to be prevalent and even though sustaining it seemed to be a tough task, the markets closed with a marginally bullish sentiment too. The majority of indices seemed to have closed with a slight decline but that even that was not able to bring down the overall emotion that seemed evident today. With the market’s performance for today in mind, here are 10 stocks that we feel you should look out for:

Syndicate Bank:

Syndicate Bank revised MCLR by five basis points across tenors. Moreover the huge downside movement in the nifty also indicates a good movement.

InterGlobe Aviation:

InterGlobe Aviation stock in focus for this week. Markets watchdog SEBI and the Ministry of Corporate Affairs have started digging deep into allegations of governance lapses and violations that could force the government to override existing arrangements and pacts at the company. The news may affect the movement of the market to a considerable.

IndusInd Bank:

IndusInd Bank said that S.R Batliboi & Co. has tendered resignation as statutory auditors as RBI has barred the auditor from carrying out audits in commercial banks.Hence the stock is expected to indicate a good volume.

BHEL:

BHEL won an order worth Rs100cr for setting up a 25 MW Floating Solar Photovoltaic (SPV) Power Plant on EPC basis from NTPC.This sets a good future investment horizon, and hence a good movement is expected.

ITC:

The company has appointed Ajit Kumar Seth and Anand Nayak as additional directors. Hence, good volume is expected.

Allahabad Bank:

Allahabad Bank has reported fraud of Rs 1774.82 crore by Bhushan Power & Steel to the Reserve Bank of India (RBI), the Kolkata-based state-owned lender said in an exchange filing on July 13.

Dewan Housing Finance Corporation (DHFL):

Dewan Housing Finance Corporation (DHFL) has posted a big loss of Rs 2,224 crore for the quarter ended March 2019,this unidirectional movement may be expected to further continue.

Concor:

Concor’s expertise in logistics, the two companies have signed an agreement to form a Joint Working Group (JWG) named BHELCON, for jointly setting up a Rail-based Logistics Terminal at Haridwar.

Infosys:

Infosys closed with gains of over 7 percent after global brokerage firms maintained their rating but raised 12-month target price post June quarter results.

Tatasteel:

ICICI Direct has come out with its first quarter (April-June’ 19) earnings estimates for the Metals & Mining sector. The brokerage house expects Tata Steel to report net profit at Rs. 1,096.8 crore down 43.3% year-on-year (down 50.8% quarter-on-quarter).

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