Domestic equity markets opened on a flat note with positive bias on Tuesday ahead of monetary policy review by the Reserve Bank of India.
Domestic equity markets opened on a flat note with positive bias on Tuesday ahead of monetary policy review by the Reserve Bank of India. However, the markets wiped off its initial gains as the BSE Sensex and NSE Nifty were trading 92.54 points and 23.40 points lower at 28094 and 8519 in the early trade at 9.51 am.
Below are the stocks that are likely to be in focus:
Hero MotoCorp: The two-wheeler manufacturer reported net profit of Rs 750.34 crore, up 33.33 per cent, against Rs 562.76 crore for the first quarter ended June 30, 2015. However, revenue of the company decreased by 1.15 per cent on year-on-year basis to Rs 6,955.26 crore. The figure was Rs 7,036.84 crore in the same quarter a year ago. The result was announced post market hours on August 3. In the early trade, the share price of the company was trading 2.53 per cent higher at Rs 2,766 on the BSE.
Bharti Airtel: The company will announce its Q1 result for the ongoing financial year on Tuesday. For the quarter ended March 2015, the company reported a standalone net profit of Rs 3,824 crore, up 85.64 per cent, against Rs 2,059.90 crore in the corresponding quarter a year ago. At 9.44 am, the share price of the company was trading 0.49 per cent higher at Rs 421.
Britannia Industries: The FMCG major will also announce its result on Tuesday. For the quarter ended March 2015, the company reported a consolidated net profit of Rs 167.25 crore, up 55.35 per cent, against Rs 107.66 crore in the same quarter last year. The scrip was trading 1.50 per cent higher at Rs 3,182.30 in the early trade.
Wockhardt: According to reports, Wockhardt is recalling over 50 lakh bottles of various drugs, used for treating ailments like high blood pressure and ulcer, in the US market due to deviations in current good manufacturing practice norms laid down by the American health regulator. The share price of the company was trading 1.89 per cent lower at Rs 1,551.40 in early trade.
Indiabulls Real Estate: A realty player Indiabulls Real Estate on August 3 reported a two-fold surge in net profit for the quarter ended June 30, at Rs 90.68 crore on improved realisation. The company had clocked a net profit of Rs 38.85 crore in the corresponding quarter last fiscal. At 9.48 am, the share price of Indiabulls Real Estate was quoting at Rs 64.70, 4.69 per cent higher than its previous close.