The Indian markets are expected to open in the green on Tuesday, May 18 amid tracking gains in its Asian counterparts and US Futures. The Singapore Exchange indicates a gap-up opening for the index in India with a 158 points gain. The Nifty futures were trading at 15,104 on the SGX around 07:30 hours IST.
Top stock to look for the day:
Bharti Airtel: The telecom major reported a consolidated profit fell 11.3 percent to Rs 759 crore in Q4FY21 against Rs 853.6 crore in Q3FY21. While, revenue from operations fell to Rs 25,747.3 crore from Rs 26,517.8 crore QoQ.
Tata Motors: The homegrown automaker will declare its March quarter earnings today. Moreover, the company will undertake a block closure at its Jamshedpur facility from 18-22 May.
Reliance Industries: The company’s Jio subsidiary is deploying two undersea cable systems with global partners and supplier SubCom to support data demand in India. India-Asia-Xpress (IAX) System, which will connect India with Singapore, will be ready for service by mid-2023. While India-Europe-Xpress (IEX) system, which will connect India to the Middle East and Europe, is expected to be ready in early 2024.
Union Bank of India: The state-owned lender said it has approved raising of Rs 1,750 crore through qualified institutional placement at a floor price of Rs 35.60 per equity share.
HCL Technologies: The IT major announced the expansion of investment in the United Kingdom with the hiring of 1,000 technology professionals to support its clients in the UK and around the world.
Orient Cement: The company reported sharply a higher profit at Rs 99.87 crore in Q4FY21 against Rs 44.06 crore in the same quarter last year. Its revenue rose to Rs 831.61 crore from Rs 654.52 crore, YoY.
Strides Pharma Science: Promoter group of the company has released a substantial pledge of over 38 percent, taking the current overall promoter group pledge at 25.98 percent of the promoter holding and 7.71 percent of the paid-up capital of the company.
Wabco India: The company’s Q4FY21 net profit increased to Rs 47.63 crore from Rs 31.49 crore in Q4FY20. While revenue increased to Rs 712.32 crore from Rs 404.85 crore, YoY.
Gujarat Narmada Valley Fertilizers and Chemicals: The company reported a higher consolidated profit at Rs 310.53 crore in Q4FY21 against Rs 240 crore in the corresponding period last year. Their revenue grew by 29.9 percent to Rs 1,733.03 crore from Rs 1,342.47 crore, YoY.
Jindal Steel & Power: According to bulk deals data Sarda Mines Private Limited bought 52,74,600 equity shares in the company at Rs 431.62 per share on the BSE.
Mangalore Refinery and Petrochemicals: The company reported a consolidated profit at Rs 271.86 crore in Q4FY21 against loss of Rs 1,889.1 crore. Revenue increased to Rs 20,827.5 crore from Rs 17,283 crore YoY.
List of companies which are going to declare their quarterly results:
Aarti Industries, Abbott India, Biogen Pharmachem Industries, Brigade Enterprises, Tata Motors, Canara Bank, Century Enka, Torrent Pharmaceuticals, Ujjivan Small Finance Bank, GSK Pharma, Arfin India, Astral, Coromandel Engineering Company, IIFL Wealth Management, Chalet Hotels, Jindal Stainless (Hisar), Minda Corporation, Diamines & Chemicals, Dolat Investments, Ester Industries, Kalyani Steels, Gujarat Alkalies & Chemicals, Gulshan Polyols, Route Mobile, Pioneer Embroideries, Shilp Gravures, JBM Auto, JSL Industries, Jyothy Labs, Kalyani Investment Company, PI Industries, Xtglobal Infotech, Umang Dairies and Upsurge Investment & Finance, and will release quarterly earnings on May 18.
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Source: News18