Stocks Radar: Asian Paints, Muthoot Finance, and Jindal Poly Films 

Indian shares extend gains following a rally in the Asian market on the back of robust U.S. jobs data. The S&P BSE Sensex climbed 0.4 percent to 28,078 while the NSE Nifty advanced 0.4 percent to 8,716, a fresh 52-week high for the 50-share index.

Here are the stocks in focus for the day:

Asian Paints

Shares of Asian Paints retreated after gaining 0.9 percent to Rs 1,154. It announced plans to increase its water-based paint manufacturing capacity at its Tamil Nadu plant from 1,40,000 KL per annum to 2,00,000 KL per annum.

According to its filings on the exchanges, the company also wants to increase its manufacturing capacity of synthetic resins and emulsions by 35,000 MT at its Gujarat facility, subject to necessary approvals.

The stock is currently trading at Rs 1,137, down 0.5 percent. 

Muthoot Finance

Muthoot Finance recovered from its early losses to rise as much as 4.6 percent to Rs 369. The stock had fallen as much as 3 percent after the Income Tax Department carried out a search at various company offices between August 5 and August 7.

In a statement filed on the exchanges, the company is confident that the Income Tax Department would have found that the company maintains it account books satisfactorily.

Jindal Poly Films

Shares of the company surged 1.6 percent to Rs 427 a piece after the company board approved increasing its holding in its subsidiary, Global Nonwovens Ltd from 60.4 percent to 100 percent.

The company will purchase the balance 39.6 percent of Global Nonwovens (GNL) for a total of Rs 32.3 crore, or Rs 10 per share, which will become a wholly-owned subsidiary of Jindal Poly Films.

Earnings Reaction

Travel company Thomas Cook recorded a 53 percent increase in profit in the first quarter, with revenue doubling over the year. Companies like Siemens, Fortis Healthcare and GATI also posted their financial results post market hours.

• Siemens (+1.2 percent to Rs 1,308)
• Fortis Healthcare (-1.4 percent to Rs 186)
• Thomas Cook (India) (+2.9 percent to Rs 205)
• Gati (+2.8 percent to Rs 169)

Earnings Watch

Idea Cellular and Hero MotoCorp are the two Nifty 50 companies, which will announce their first quarter results today. Other companies that will report earnings include Britannia, Colgate Palmolive, Mcleod Russel India, SRF, Polaris and Max Financials.

Here is a look at the stocks before earnings:

• Idea Cellular (-3.2 percent to Rs 106)
• Hero MotoCorp (+2.3 percent to Rs 3,525)
• Britannia Industries (+1.7 percent to Rs 2,933)
• Colgate Palmolive (-1.3 percent to Rs 946)
  Mcleod Russel India (+2.3 percent to Rs 195)
• SRF Limited (-2% percent to Rs 1,500)
• Polaris (+1.49 percent to Rs 194)
• Max Financial Services (-0.3 percent to Rs 550)