United Spirits, once controlled by Vijay Mallya, will come under renewed focus on Dalal Street on Friday, as it declares April-June financial performance. Analysts' expectations have been muted after Diageo Plc, the parent of USL, on Thursday reported lacklustre full-year revenue growth due to weakness in emerging markets. The stock, which slid sharply after Diageo’s open offer, could see further pressure if the numbers fail to live upto Street expectations.
Sikka era to keep Infosys in focus
On August 1, Vishal Sikka will take over as chief executive officer of Infosys. Sikka, the first non-founder CEO of Infosys, replaces SD Shibulal, last of the co-founder CEOs of the infotech behemoth. Over the last 33 years, Infosys co-founders NR Narayana Murthy, Nandan Nilekani, S Gopalakrishnan and SD Shibulal have led the company’s operations. Infosys is sitting on a huge cash pile. For now, analysts would be keenly watching how the new CEO put this to use.
July sales figures to swing auto stocks
Shares of automobile majors such as Tata Motors, Maruti Suzuki, Ashok Leyland and Escorts as well as two- and three-wheeler manufacturers Bajaj Auto, Hero MotorCorp and TVS Motor will remain in focus, as they announce their July sales figures on Friday. With the maiden Budget of Finance Minister Arun Jaitely beginning to leave more disposable income in the hands of individuals, analysts are expecting a good show from automobile majors.