The domestic stock market is likely to open weak after the big surge in Muhurat trading on Wednesday, thanks mainly to weak industrial output data at home and the weakness seen in other Asian markets in morning trade.
Fresh hints from the US that the Fed may hike rates in December also dented investor confidence on Dalal Street and in other emerging markets elsewhere.
Here are a couple of stocks that are expected to be in focus during Friday's trade.
SPICEJET: The Budget carrier reported a small net profit in the July-September period on Thursday, its third quarterly profit in a row and helped by sliding fuel costs and higher passenger numbers on a smaller fleet. India's second-biggest budget airline by market share, which came close to collapse late last year after running out of cash, reported a Rs 24 crore net profit for the quarter, against a Rs 310 crore net loss a year earlier.
INFOSYS: India's second-largest software exporter has started handing out special bonuses and incentives to top-performing employees and sales executives — on top of their regular salaries and incentives — and plans to hire about 20,000 engineering graduates from campuses in financial year 2016-17, roughly similar to the number of campus offers it has made this year, a top company executive said.
EICHER: The stock of Eicher Motors, the maker of Royal Enfield motorcycle, has fallen by nearly 25% from the peak level in July when it surpassed the market capitalisation of Hero Moto Corp to become India's second most valuable two-wheeler company after Bajaj Auto. The stock's fall can be attributed to rising discomfort among investors over the company's rich valuation and falling waiting period for its bikes, which may result in lower volumes in future.
KOTAK BANK: Kotak Mahindra Bank on Wednesday overtook its larger rival Axis Bank to become India's fourth largest bank in terms of market capitalisation mainly because investors see its asset quality as less susceptible to deterioration. The Uday Kotak-led lender's market capitalisation jumped to Rs 1.20 lakh crore on Wednesday beating the Rs 1.14 lakh crore of its larger rival Axis Bank.
AXIS BANK: Axis Bank is said to be the biggest beneficiary of the government decision to remove sub-limit restrictions within the overall limit of 74 per cent of foreign direct investment for private sector lenders. The lender has a foreign shareholding of 46 per cent at present.
HDFC BANK: HDFC Bank is unlikely to benefit from the recent FDI reforms in the private bank space as the foreign investor holdsing in the lender is already close to the overall cap of 74 per cent, and will not gain much because of the move.
YES BANK: Axis Bank is said to be another biggest beneficiary of the government decision to remove sub-limit restrictions within the overall limit of 74 per cent of foreign direct investment for private sector lenders. The lender has a foreign shareholding of 42 per cent at present.
NESTLE: Nestle India’s popular instant noodles Maggi has made a comeback — five months after the company was banned from selling the product in India for allegedly containing lead beyond permissible levels.
COAL INDIA: Looking at utilising underground mines more efficiently, CIL has invited bids from consultants for preparing a study on a range of issues, including raising output, as the state-owned firm gears up to meet the ambitious production target of 1 billion tonnes.
INDIGO: After the big-bang debut, this counter is likely to be on investor radar on Friday. IndiGo got off to a flying start on the bourses on Tuesday with shares in its parent company InterGlobe Aviation surging as high as 18 percent above their listing price. Shares opened at Rs 856 on the Bombay Stock Exchange, then soared to Rs 887.50 rupees from an issue price of Rs 765.
NMDC: Iron ore mining major NMDC has registered steep drop in its net profit and revenues during the second quarter ended September 30. The company has attributed this drop to poor demand for iron ore from steel plants. The state-owned company’s net profit was down to Rs 810.24 crore for the second quarter against ₹1566.75 crore for the corresponding quarter.