DLF, Canara Bank, Adani Gas, Apollo Tyres, Birlasoft, Cadila Healthcare, Dwarikesh Sugar Industries, EID Parry (India), Godrej Properties, Inox Leisure, VIP Industries, etc., are among companies that are scheduled to announce their quarterly earnings today.
Nifty futures were trading flat to positive with 5 points gains at 11,115 on Singaporean Exchange in morning deals, suggesting a tepid opening for BSE Sensex and Nifty 50 on Wednesday. Trends in coronavirus cases, corporate earning, and other global developments will be keenly watched by market participants. On Tuesday, the foreign institutional investors (FIIs) bought shares worth Rs 703.74 crore while domestic institutional investors (DIIs) sold shares worth Rs 665.69 crore on a net basis, according to the per provisional data available on the NSE. “We believe Indian markets would continue to take cues from global peers and the upcoming RBI policy would the next major trigger. At the same time, as more companies would announce its Q1FY21 earnings, stock-specific action would continue to induce high volatility. We reiterate our advice to focus on stock selection and risk management,” said Ajit Mishra, VP – Research, Religare Broking Ltd
Stocks in focus today:
Axis Bank: Axis Bank has set a floor price of Rs 442.19 per equity share for its proposed Rs 15,000 crore qualified institutional placement (QIP). The board of the bank had last month approved the Rs 15,000 crore fundraise plan. The QIP was okayed by shareholders at the annual general meeting held on July 31, 2020, the bank said.
TCS: Tata Consultancy Services and two other vendors have been shortlisted for implementation of Integrated Market Surveillance System, according to an RBI document. The Reserve Bank of India (RBI) had received responses from several vendors for implementation of Integrated Market Surveillance System (IMSS) after it invited Expression of Interest (EOI) in July last year.
SBI Cards and Payment Services: SBI Card in a BSE filing informed that Ashwini Kumar Tewari has taken over as the company’s new Managing Director and Chief Executive Officer, effective August 1, 2020. “The baton passes from Hardayal Prasad who retired on July 31, 2020, following a successful tenure during which the company achieved many significant accolades,” it added.
Bharti Airtel: Bharti Airtel’s shareholders have approved a proposed scheme of arrangement between Airtel, Bharti Airtel Services, Hughes Communications India and HCIL Comtel, with 99.98 per cent of votes cast in favour of the merger.
Sun Pharma: Sun Pharmaceutical Industries Ltd has launched FluGuard® (Favipiravir 200 mg) at an economical price of Rs. 35 per tablet, for the treatment of mild to moderate cases of Covid-19 in India.
Cadila Healthcare, Adani Gas: DLF, Canara Bank, Adani Gas, Apollo Tyres, Birlasoft, Cadila Healthcare, Dwarikesh Sugar Industries, EID Parry (India), Godrej Properties, Inox Leisure, JK Lakshmi Cement, Jaiprakash Associates, Jyothy Labs, Shakti Pumps, Strides Pharma Science, Triveni Turbine, VIP Industries, etc., are among companies that are scheduled to announce their quarterly earnings today.