Stocks markets are expected to open lower on Wednesday taking cues from the global markets. Experts have said that corporate earnings and the monsoon session of Parliament will drive the markets this week. Major corporate houses like Infosys, HDFC Bank, Cairn India, Idea Cellular and HUL have already reported their earnings.
Here are the six stocks that may remain in focus today:
Idea Cellular: Idea Cellular on Tuesday posted better-than-expected earnings during April-June, with net profit at Rs 930.8 crore, down 1.25% from Rs 941.8 crore in the preceding quarter. Consolidated revenue stood at Rs 8,798.3 crore. The company attributed the decline to changes in Trai’s interconnect (IUC) regulations, which have lowered termination charges as well as roaming charges ceiling.
Eicher Motors: Eicher Motors on Tuesday reported 40.89 per cent rise in its consolidated net profit at Rs 221.83 crore for the second quarter ended June, 2015. The company had posted a net profit of Rs 157.44 crore for the same period of previous fiscal.
Bharti Airtel: Bharti Airtel on Tuesday said it has no plans to exit its African operations even as the company has entered into talks with France-based Orange to sell four subsidiaries in the continent.
Cipla: Drug major Cipla said on Tuesday that private equity player Fidelity Growth Partners will make investment in its consumer healthcare business. The company however did not provide the details of the proposed investment.
Cairn India: Cairn India on Tuesday reported a 24 per cent drop in its June quarter net profit due to a slide in international oil prices. Net profit in April-June at Rs 835 crore, or Rs 8.36 per share, was 24 per cent lower than Rs 1,093 crore, or Rs 18.17 a share, in the same period a year ago, the company said in a statement here.
Spicejet: Budget carrier SpiceJet Ltd, Kalanithi Maran and another top company official have been summoned as accused by a Delhi court in two tax evasion cases for their alleged failure to deposit over Rs 147 crore TDS with the Income Tax (IT) Department.