Pre-Market: 5 stocks to watch

The markets are likely to open in the negative territory tracking weakness in the global markets.

 

Asian shares tumbled on Friday as investors sought out safe-haven assets on growing fears that conflicts in Ukraine and the Middle East could sap global growth, extending losses after U.S. President Obama said he had authorized air strikes in Iraq.

 

MSCI's broadest index of Asia-Pacific shares outside Japan. Japan's Nikkei  was down about 2.1 percent.

Wall Street ended down on Thursday, erasing early gains marked on data showing the number of Americans filing new claims for unemployment benefits unexpectedly fell last week.

 

Stocks to watch:

 

Jubilant FoodWorks that runs food chains, including Domino's Pizza and Dunkin' Donuts in India, on Thursday reported 18 per cent decline in its stand-alone net profit to Rs 28 crore for the first quarter ended June, hurt by higher expenses.

JK group firm JK Agri Genetics posted a marginal increase in net profit at Rs 25.34 crore for the first quarter of this fiscal on higher sales. The company had reported a net profit of Rs 25.28 crore in the April-June period of the last fiscal.

 

Tata-owned Trent posted 3.5 times jump in its stand-alone net profit for the quarter ended June 2014 to Rs 61 crore compared to Rs 17 crore in the corresponding quarter of the previous financial year.

 

Bharti Airtel, India’s largest telecom operator, on Thursday raised Rs 2,140 crore by selling 4.5 per cent stake in Bharti Infratel, its tower arm. The share sale saw substantial demand from investors, helping the company exercise the greenshoe option (selling investors more shares than initially planned).

 

Leading steel pipes manufacturer Welspun Corp, the flagship company of the Rs 18,000-crore Welspun Group, today reported a net loss of Rs 97.5 crore for the three months to June against net profit of Rs 7.7 crore in the year-ago period.

Net sales also plunged, and nearly halved to Rs 1,426.1 crore from Rs 2,249.1 crore. The company did not offer any reason for the drop in sales or depleted bottomline.