Apollo Hospitals Enterprises, Ashok Leyland, Bank of India, Container Corporation of India, Endurance Technologies, Engineers India, Hindustan Aeronautics, Indiabulls Ventures and Zuari Global, are among 147 companies that are scheduled to announce their March quarter earnings today.
Nifty futures were trading 123.15 points or 1.20 per cent lower at 10,175.80 on Singaporean Exchange, suggesting a gap-down opening for BSE Sensex and Nifty 50 on Thursday. Investors will react to rising coronavirus cases along with the geopolitical tensions for any directional move. Besides, corporate earnings may lead to stock-specific action on the day of the expiry of futures and options contracts (F&O) for June series. “In the absence of any major event on the local front, participants should keep a close watch on the global markets for cues. We expect volatility to remain high as traders would square-off and rollover their derivatives positions due to the scheduled expiry of June month contracts,” said Ajit Mishra, VP – Research, Religare Broking Ltd.
Stocks in focus today:
Yes Bank: After Yes Bank’s upper Tier-II bonds were downgraded to default grade, the bank said that it has adequate liquidity to meet all its obligations. Icra and CARE Ratings had both downgraded Yes Bank’s upper Tier-II bonds on Tuesday.
Ashok Leyland, Bank of India: Apollo Hospitals Enterprises, Ashok Leyland, Bank of India, Container Corporation of India, Endurance Technologies, Engineers India, Hindustan Aeronautics, Indiabulls Ventures, ICRA, IDFC, Indian Overseas Bank, Prince Pipes and Fittings, Sintex Industries, Somany Ceramics, TTK Prestige, Varroc Engineering and Zuari Global, are among 147 companies that are scheduled to announce their March quarter earnings today.
HDFC Bank: Aditya Puri, CEO and managing director of HDFC Bank, said that the bank is well placed to ride out the Covid-19 storm. In a message to shareholders in the annual report, he said that the bank will invest ahead in technology, computing and artificial intelligence. The annual report also mentioned that bank is awaiting the RBI’s approval for the appointment of Puri’s successor.
IDBI Bank: IDBI Bank said that despite challenges arising out of coronavirus pandemic, the bank’s results in future are not expected to be materially adverse nor would have any significant impact on the going concern assumption.
GIC Re: GIC Re reported its net income at Rs 1,197.4 crore for the March quarter, driven by investment income. The company’s net income stood at Rs 603.4 crore in the corresponding period of the preceding fiscal.