At 08:45 am, Nifty futures on the Singapore Exchange (SGX) were trading 90.35 points or 0.98 per cent lower at 9,138.75, indicating a negative start for the Indian market on Tuesday.
Here’s a look at the top stocks that may remain in focus today
Earnings today: As many as 11 companies, including Nestle India, Bandhan Bank, Havells, JK Paper, IndiaMART InterMESH, and Blue Star, are slated to announce their March quarter results later in the day.
IndiGo: InterGlobe Enterprises, the parent of the country’s largest airline IndiGo, has evinced interest in Virgin Australia, Australia’s second-largest aviation company. Virgin Australia entered bankruptcy administration two weeks ago after lawmakers refused financial aid during the Covid-19 pandemic on fears it would amount to a bailout of foreign carriers that together own 90 per cent of the airline’s stock. READ MORE
Godrej Agrovet: Net profit of Godrej Agrovet declined 34.40 per cent to Rs 74.58 crore in the quarter ended March 2020 as against Rs 113.69 crore during the previous quarter ended March 2019. Sales rose 7.39 per cent to Rs 1,490.35 crore.
Piramal Enterprises: Piramal Enterprises has reported a consolidated pre-tax loss of Rs 1,296 crore in the March qurter, as opposed to a pre-tax profit of Rs 678 crore in the same period last financial year (Q4FY19) because of incremental provisioning in its financial services business on account of Covid-19. The company reported a net loss of Rs 1,703 crore in Q4FY20 compared to a net profit of Rs 455 crore in Q4FY19. READ MORE
Reliance Infra: According to a report by business daily Mint, around eight investors, including Caisse de dépôt et placement du Québec (CDPQ), Actis LLP and Brookfield Asset Management, have showed initial interest in buying Reliance Infrastructure Ltd’s Delhi electricity distribution businesses.
IOC: Indian Oil Corp (IOC), the country”s largest oil firm, has raised operating levels at its refineries to about 60 per cent after fuel demand showed a gradual pick up on easing of lockdown restrictions.
Asian Paints: As per news reports, Goldman Sachs has downgraded the stock to “sell” with the target price of Rs 1,111.
IRCTC: The stock may continue to hog the limelight as bookings for select trains resumed on Monday. A Railways official said that “by 9.15 pm, approximately 30,000 PNRs had been generated and reservations issued to more than 54,000 passengers”. EAD MORE
