Indian stock markets are likely to open flat on Thursday as investors remain cautious over the ongoing corporate earnings season and the subdued global cues.
Indian stock markets are likely to open flat on Thursday as investors remain cautious over the ongoing corporate earnings season and the subdued global cues. The early indicator of NSE Nifty, SGX Nifty Futures was trading little changed, down 0.16% at 10,575.5 on the Singapore Exchange on Thursday. Shares of India’s third-largest and fifth-largest private sector lenders Axis Bank and Yes Bank will be on close watch ahead of their respective Q4 results for the fiscal year ended 31 March 2018. Other major companies which are also scheduled to release the earnings report card are Reliance Capital, SBI Life Insurance Company, Biocon, AU Small Finance Bank, Rallis India, Aditya Birla Money, Parag Milk Foods, Shriram City Union Finance, Tata Elxsi, Artson Engineering, Automotive Stampings, Coromandel Engineering, Essel Propack, HIL, Indian Energy Exchange, JL Morison, Jindal Stainless (Hisar), Kirloskar Pneumatic, Oil Country Tubular, Supreme Industries and Tata Metaliks.
These stocks will be in focus today
Wipro: India’s third-largest IT company Wipro reported over 20% decline in its consolidated profit to Rs 1,800.8 crore for the quarter ended 31 March 2018.
Fortis Healthcare: Manipal Health Enterprises has revised its offer for Fortis Healthcare yet again, raising the value to Rs 6,322 crore.
Indiabulls Real Estate: Indiabulls Real Estate reported a nearly 21-fold jump in consolidated net profit to Rs 1,648.3 crore for the quarter ended 31 March 2018.
IDFC Bank: IDFC Bank today will raise up to Rs 5,000 crore by issuing bonds in next 12 months in one or more tranches.
Sterlite Tech: Sterlite Tech posted 77% rise in consolidated net profit to Rs 112.42 crore for the quarter ended 31 March 2018 on the back of high demand for optical fibre products in telecom networks.
ICICI Lombard General Insurance Company: ICICI Lombard General Insurance Co registered an 18% jump in net profit to Rs 212 crore for the quarter ended 31 March 2018.
Jindal Stainless: Jindal Stainless posted 28.7% decline in standalone net profit to Rs 114.74 crore for the Janurary-March period of the financial year 2017-2018.
UltraTech Cement: UltraTech Cement reported a consolidated net profit of Rs 446.13 crore for the fourth quarter ended on 31 March 2018.