Twenty stocks in focus in Wednesday morning trade
The Indian market is expected to open higher. Here is a list of top twenty stocks that are likely to be in focus today.
"The Nifty 50 candlestick chart pattern has formed the Bullish Unique three river bottom pattern which questions the strength of the bears and signifies the prevailing indecisions in the markets," Venu Madhav, Chief Operating Officer, Zerodha told ETMarkets.com.
"However, since the close is below 7,780 which on previous occasions had held up and had been a strong support of Nifty, we believe there's more pain left to be sustained if 7,780 levels are not broken on the upside in the next few trading sessions," he added.
Here is a list of top twenty stocks that are likely to be in focus today:
Cipla: Cipla Ltd, India's fifth-largest drugmaker by sales, reported a fall of 69 per cent in its quarterly earnings on Tuesday, far short of analysts' forecasts.
Bajaj Auto: The two-wheeler maker is expected to report 31 per cent YoY jump in net profit to Rs 815 crore compared with 621.60 crore reported in the year-ago period.
Tata Steel: Tata Steel which will report its results for the quarter ended March 31 later today said that at least four parties have submitted bids for the British assets of Tata Steel ahead of the company's board meeting this week that could determine their fate, according to sources close to the bidders.
L&T: Diversified conglomerate Larsen & Toubro (L&T) is expected to report 24.5 per cent YoY drop in the net profit to Rs 15,622 crore for the quarter ended March 31 compared with Rs 20,696 crore reported in the year-ago period, Kotak Securities said in a report.
Ashok Leyland: Ashok Leyland is expected to report 85 per cent jump in the net profit to Rs 425 crore for the quarter ended March 31 compared with 230 crore reported in the year-ago period.
Tech Mahindra: Tech Mahindra on Tuesday reported an 18.18 per cent quarter-on-quarter (QoQ) rise in March quarter net profit at Rs 897 crore. Ebitda margin fell to 16.87 per cent during the quarter from 16.95 per cent in the previous quarter.
MOIL: State-run MOIL reported a 79 per cent fall in standalone net profit at Rs 21.38 crore for the fourth quarter ended March 31.
Jammu & Kashmir Bank: The bank reported a net loss of Rs 56.02 crore in the quarter ended March 31, due to rise in bad loans.
Bosch: The company is expected to report 9 per cent YoY growth in the net profit to Rs 313 crore for the quarter ended March compared with Rs 287 crore reported in the year-ago period.
GAIL India: GAIL is expected to report 14.9 per cent growth in the net profit to Rs 586 crore for the quarter ended March 31 compared with Rs 510 crore reported in the year0-ago period.
Tata Power: Tata Power, the country's largest integrated power utilities company, is planning to raise up to Rs 4,000 crore by selling corporate bonds as it aims to fund its proposed acquisition of renewable energy assets from the Welspun group, four people familiar with the matter told ET.
GSFC: Gujarat State Fertilizers and Chemicals (GSFC) reported a 49.50 per cent fall in its net profit at Rs 32.57 crore for the quarter ended March 31, due to higher expenses.
Bharti Airtel: The telecom major has completed the acquisition of Videocon's airwaves in six circles for Rs 4,428 crore, the two companies said in a joint statement Tuesday.
Jubilant Life Sciences: Drug maker Jubilant Life Sciences Ltd on Tuesday reported a 65.41% rise in its consolidated net profit to Rs.70.68 crore for the quarter ended March 2016.
Zee Media Corporation Ltd: The company on Tuesday posted a consolidated net profit of Rs 18.26 crore for the fourth quarter that ended on March 31, 2016, on account of a reduction in operating expenditure.
Wonderla Holidays Ltd: Wonderla Holidays posted 14.89 per cent higher net profit at Rs. 7.56 crore for the quarter ended March 31, 2016 compared with Rs. 6.58 crore during the same period last year.
Ahluwalia Contracts: Ahluwalia Contracts (India) Ltd reported 53% YoY rise in the net profit to Rs. 26.7 crore for the quarter ended March compared with Rs.17.4 crore reported in the same period last year.
Subex: The telecom software product company reported a fivefold increase in profits at Rs 58.7 crore for the financial year ending March 31, 2016.
Ruchi Soya Industries: The Securities and Exchange Board of India has barred Ruchi Soya Industries, the country's largest soya oil producer, from dealing in the securities market for indulging in manipulative and fraudulent activities in castor seed contracts.
Parsvnath Developers: Realty firm Parsvnath Developers reported a profit of Rs 5.93 crore for the quarter ended March, 2016, as against a loss of Rs 140.9 crore in the year-ago period.
Omaxe: Realty firm Omaxe reported 21 percent increase in consolidated net profit to Rs 24.35 crore for the quarter ended March 31 on higher sales.