Ashok Leyland, Tata Power, Aurobindo Pharma, Bharat Forge, Century Plyboards, Cummins India, Graphite India, GSFC, Gulf Oil Lubricants, Natco Pharma, NCC, Sundram Fasteners, Transport Corporation of India, are among 137 companies that are scheduled to announce their quarterly earnings today.
Nifty futures were trading 113 points or 1 per cent down at 11,235 on Singaporean Exchange in early trade, indicating a weak opening for BSE Sensex and Nifty 50 on Wednesday. Investors will continue to take cues from stock-specific action induced from corporate earnings, developments in COVID-19 trends, oil prices and rupee trajectory. Besides, market participants will eye July CPI Inflation data which is scheduled to be released today. In the previous session, Indian stock markets rose for the fourth session on the trot. “The near term momentum may continue in market with in-between leaps and bounces, on the back of expected US stimulus measures, China’s improving economic data and further positive development over COVID vaccine. Going ahead, investors would watch out for economic data points which are due this week along with AGR case hearing on Friday and any further announcement of stimulus,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
Stocks in focus today:
Aurobindo Pharma, Bharat Forge: Ashok Leyland, Tata Power, Aurobindo Pharma, Bharat Forge, Century Plyboards, Cummins India, Graphite India, GSFC, Gulf Oil Lubricants, Natco Pharma, NCC, Sundram Fasteners, Transport Corporation of India, are among 137 companies that are scheduled to announce their quarterly earnings today.
Defence, aerospace stocks: The Defence Acquisition Council (DAC) in its meeting held under the chairmanship of Defence Minister Rajnath Singh, accorded approval for capital acquisitions of various platforms and equipment required by the Indian Armed Forces, according to Ministry of Defence. The proposals for an approximate cost of Rs 8,722.38 crore were approved.
IRCTC, RVNL, IRCON: Ministry of Railways informed that all regular passenger and suburban train services will continue to remain suspended till further notice. Indian Railways also informed that all 230 Special Trains, which are running at present, will continue to operate.
Ashoka Buildcon: Highways builder reported a 6.7 per cent increase in its standalone PAT to Rs 69 crore for the first quarter ended June 30. The company had posted a profit after tax at Rs 65 crore for the corresponding quarter a year ago.
HDFC: Housing Development Finance Corporation has raised Rs 10,000 crore equity capital by issuing shares to qualified investors, including Government of Singapore and Invesco Oppenheimer Developing Markets Fund. Besides, the corporation has raised Rs 3,693 crore through an issue of non-convertible debentures.
Wipro: IT major completed the acquisition of 4C for 68 million euros. In July this year, the Bengaluru-based company had said it will acquire 4C for 68 million euros (about Rs 589 crore).
Central Bank of India: Public sector lender Central Bank of India on Tuesday reported a 14.4 per cent on-year rise in net profit to Rs 135.43 crore in the April-June quarter. Central Bank of India’s operating profit rose 17 per cent on-year to Rs 1,291 crore.
IndusInd Bank: Private sector lender sold 4.5 per cent and 4.18 per cent of invoked shares of Eveready Industries and McLeod Russel, respectively. Eveready and McLeod Russel are group companies of financially stressed Williamson Magor group.