Indian stock markets are likely to open flat on Wednesday ahead of major corporate earnings for the quarter ended 31 March 2018 including the world's largest two-wheeler maker Hero MotoCorp.
Indian stock markets are likely to open flat on Wednesday ahead of major corporate earnings for the quarter ended 31 March 2018 including the world’s largest two-wheeler maker Hero MotoCorp. Shares of Ajanta Pharma, Astec Lifesciences, Century Textiles & Industries, HT Media, InterGlobe Aviation, International Paper APPM, JM Financial, Kansai Nerolac Paints, Marico, Siemens, Tata Power, Welspun Corp will be in close watch ahead of their respective Q4 results due later today. The early indicator of NSE Nifty, SGX Nifty Futures was trading little changed, down 0.12% at 10,749.5 on the Singapore Exchange on Wednesday.
These shares will be in focus today
HCL Technologies: HCL Technologies on Wednesday posted a decline of 9.9% in its fourth-quarter net profit to Rs 2,228 crore for the Jan-Mar period of the financial year ended 31 March 2018 as against a net profit of Rs 2,473 crore in the corresponding quarter last year.
L&T: French energy management and automation solutions giant Schneider Electric and Singaporean sovereign wealth fund Temasek Holdings today snapped up engineering major Larsen & Toubro’s electrical and automation (E&A) business for Rs 14,000 crore in an all-cash deal.
Eicher Motors: The two-wheeler division of Eicher Motors Royal Enfield posted a rise of 26.67% in total sales to 76,187 units in April.
Dabur India: Dabur India reported a 19.04% increase in consolidated net profit to Rs 397.18 crore for the quarter ended 31 March 2018 backed by strong volume growth and rise in operating margin.
PSU bank stocks: According to a PTI report, Economic Affairs Secretary Subhash Chandra Garg has said there is no proposal to relax FDI limit in state-run banks and to privatise them.
TVS Motor Company: TVS Motor Company reported a 24% increase in total sales at 3,04,795 units in April.
Tata Motors: Tata Motors posted 86% jump in domestic sales at 53,511 units in April.
Mahindra & Mahindra: Mahindra & Mahindra reported 22% increase in total sales at 48,097 units in April.
Fortis Healthcare: Ahead of the deadline set by Fortis’ board to review all binding offers received till yesterday afternoon, Fortis Healthcare received an enhanced revised proposal from IHH to invest directly into the company at a per share price of Rs 175 per share.
Maruti Suzuki India: Maruti Suzuki India (MSI) reported 14.4% increase in total sales at 1,72,986 units in April.