The BSE Sensex and NSE Nifty swung between gains and losses on Wednesday as investors stayed cautious ahead of US FOMC meet outcome on Wednesday and F&O expiry on Thursday. Later, Sensex closed 56.82 points up at 26,064.12, while Nifty settled 17.25 points up at 7,979.90.
Below are the 11 stocks that are in focus today
Biocon: Stocks of the biotechnology major 1.23 per cent up at Rs 571.25 after it reported 79 per cent jump in consolidated net profit at Rs 360.9 crore for the fourth quarter ended March 31, 2016, on the back of exceptional income and robust sales.
Syngene International: Stocks of the company ended 2.58 per cent up at Rs 388.30 after it reported a 19.6 per cent rise in standalone net profit at Rs 66.5 crore for March quarter. It had posted a net profit of Rs 55.6 crore in the corresponding period of the previous fiscal, Syngene International said in a BSE filing.
Raymond: Stocks of the company closed 5.07 per cent up at Rs 418.80 after it reported over twofold jump in consolidated net profit at Rs 56.22 crore for the fourth quarter ended March 31, on account of revenue growth and profitability from lifestyle business.
Rallis India: Stocks of the company ended 1.70 per cent up at Rs 197 after it reported a 51 per cent increase in its consolidated net profit at Rs 32.25 crore for the March quarter. It had posted a net profit of Rs 21.32 crore in the same period last fiscal.
IDFC Bank: IDFC Bank reported a net profit of Rs 165.06 crore for the March quarter. IDFC Bank, a subsidiary of infrastructure finance company IDFC Ltd, started its banking operations in October last year, therefore no data is available for comparison. Stocks of the company ended 5.95 per cent down at Rs 49.80
Mahindra Lifespace: Mahindra Lifespace Developers shares ended 3.19 per cent down at Rs 445.00 after it reported 59 per cent increase in consolidated net profit to Rs 48.63 crore for the March quarter. Its net profit stood at Rs 30.62 crore in the year-ago period, the real estate and infrastructure development business of the Mahindra Group said in a regulatory filing.
Biocon: Biotechnology firm Biocon said its product portfolio will not be affected by an order of the Delhi High Court that prevented the company from calling its breast cancer medicine Trastuzumab as a biosimilar of Roche’s Herceptin.
Bharti Infratel: Telecom tower firm Bharti Infratel shares closed 3.17 per cent up at Rs 375.35 after it reported 19 per cent jump in net profit at Rs 662 crore for the quarter ended March 31, 2016, on the back of growth in network rollout by operators. The company had reported a net profit of Rs 558 crore in the same period last fiscal.
Axis Bank: Stocks of the company ended 3.11 per cent down at Rs 465.50 after the third largest private sector lender negatively surprised the markets with a 1 per cent drop in March quarter profit at Rs 2,154 crore on higher provisions and it proactively set aside money in a buffer expecting a deterioration in asset quality in future.
NHPC: Stocks of the company closed 6.51 per cent down at Rs 21.55 after government’s 11.36 per cent stake sale in electricity generator NHPC got off to a strong start with the portion for institutional investors getting oversubscribed within three hours of opening of trade.
Yes Bank: Stocks of the company ended 0.55 per cent up at Rs 915.60 after the private lender reported a 27.4 per cent rise in its stand-alone net profit at Rs 702.1 crore for the fourth quarter ended March. Net profit stood at Rs 551 crore in the corresponding quarter of 2014-15.
With agency inputs