Indian stock markets are likely to open lower on Wednesday following the subdued trade in the Asian markets as Wall Street closed in the negative territory with Dow Industrials losing as much as 179 points. The early indicator of NSE Nifty, SGX Nifty Futures was trading little changed, down 0.27% at 10,521 on the Singapore Exchange on Wednesday. Shares of Grasim, Tata Motors, Bajaj Electricals, Jet Airways, Motherson Sumi Systems, IGL, Apollo Pipes, CESC, KPIT Technologies, Larsen & Toubro Infotech, Natco Pharma and Repco Home Finance will be in a close watch as these companies are scheduled to announce their respective Q4 results today.
SBI: SBI posted its largest-ever quarterly loss of Rs 7,718 crore in the fourth-quarter of the financial year ended 31 March 2018. Following the earnings release, Rajnish Kumar, Chairman, SBI said that “last year was a year of despair. This year is a year of hope, and next year will be a year of happiness.”
Ruchi Soya: Patanjali Ayurveda and Adani group have pitched their respective bids to acquire Ruchi Soya.
Andhra Bank: Andhra Bank reported a standalone net loss of Rs 2,535.82 crore for the fourth quarter ended 31 March 2018.
Titan Company: Titan Company aims to repeat its double-digit growth in sales of wrist watches and accessories like last year, PTI reported citing a top company official.
New India Assurance: New India Assurance is planning to issue bonus shares to shareholders in 1:1 ratio.
L&T Technology Services: L&T Technology Services reported a 65% surge in its March quarter net at Rs 151.9 crore on a surge in core revenues.
Bata India: Bata India reported 44.9% increase in standalone net profit to Rs 52.08 crore for the fourth quarter ended 31 March 2018.
Cipla: Cipla posted a net profit of Rs 179 crore for the quarter ended 31 March 2018 on improved sales in the domestic market and South Africa.
DLF: DLF is targeting to more than double its sales bookings to Rs 2,500 crore in the financial year 2018-2019 and will become debt free by March 2019.