Shares of OnMobile Global will remain in focus next week, as the voluntary 15-day open offer from its US promoter begins on Friday. OnMobile Systems Inc has made the offer to acquire the shares at a price of ₹40 per share. This is a voluntary open offer, which gives an option to any shareholder who wants to exit. It proposes to acquire up to 1.19 crore equity shares. A committee of independent directors of the company last week said the offer price is fair and reasonable.

ICICI Bank, Axis Bank results to guide

Banking majors Axis Bank and ICICI Bank are scheduled to release their fourth quarter results on Friday. Both the banks have closed on a positive note on Wednesday. But technically, Axis Bank is poised at a crucial long-term resistance at ₹1,530. If the results disappoint, it can fall to ₹1,350. ICICI Bank looks very strong on the charts irrespective of financial performance. It has an inverted head and shoulder pattern. The outlook is bullish for the stock for a target of ₹1,650.

Maruti Suzuki’s performance is key

Shares of Maruti Suzuki will remain in spotlight next week, as the company is announcing its quarterly and full-year 2013-14 results on Friday. Though analysts do not expect strong numbers from the company, if it posts unhealthy performance then the stock could come under pressure, at least temporarily. The company was in the news last quarter as it had decided to source cars from a Gujarat plant to be built by its parent. The stock closed a tad higher at ₹1983.

Related Topics
comment COMMENT NOW