The BSE Sensex and NSE Nifty opened on a flat note on Wednesday tracking weak global cues. At 9.26 am, Sensex was down 99.38 points at 27,766.71. Similarly, Nifty was down 32.35 points at 8,430.00 during the same time.
Below are the stocks that are likely to be in focus today:
Sun Pharma: The stocks of the drug major will be in focus today as the company reported 60.23 per cent decline in consolidated net profit at Rs 478.96 crore for the April-June quarter due to one-time exceptional charges of Rs 685.17 crore related to write-downs and integration of Ranbaxy. The results were declared after market hours on Tuesday. The stocks were up 2,61 per cent at Rs 863.75 in early trade.
Tata Steel: Beating estimates, Tata Steel posted a consolidated net profit of Rs 735 crore in the April-June quarter, more than double of what it posted in the same period last year, on the back of lower tax expenses and finance costs and higher other income. The shares were up 0.81 per cent at Rs 248.90 in early trade.
Coal India: The Cabinet may consider 5-10 per cent stake sale in Coal India that could fetch up to Rs 24,800 crore to the exchequer. The company will also announce its quarterly result later in the day. The shares were down 3.61 per cent at Rs 379 in early trade.
Nestle India: The government on Tuesday approached consumer forum NCDRC seeking damages worth Rs 640 crore from the company on charges of unfair trade practices, false labelling and misleading advertisements of the popular noodles brand. Nestle India shares were down 2.06 per cent at Rs 6175 in early trade.
KEC International: The engineering firm on Tuesday said it has bagged new orders worth Rs 838 crore in transmission and distribution as well as telecom cable business. The shares were up 2.82 per cent at Rs 151.25 in early trade.
Companies like Dolphin Offshore, MOIL, Natco Pharma, Lovable, Oil India, Indian Hotels, Ashok Leyland, IDBI, Jubilant Industries, Zicom, Voltas, Wheels India, Ruby mills, Max India, Wonderla, India Cements and Jindal Steel are some of the major companies which may announce their earnings on Wednesday.