Check out the companies which will be in focus during trade today based on recent and latest news developments.
The Indian stock market to open on a flat note. Parag Milk Foods to list today. On the gobal front, US blue chip stock indices closed flat on Wednesday while the technology shares managed to post modest gains after minutes from the Federal Reserve's last policy meeting indicated that a rate hike in June cannot be ruled out.The Dow Jones Industrial Average declined 3.36 points to close at 17,526.62. The blue-chip gauge traded within a 218-point range during the day.
The S&P 500 index rose by 0.42 points at 2,047.63, with The index trading within a 26-point range on the day. Meanwhile, the Nasdaq Composite Index climbed 23.39 points, or 0.5%, to settle at 4,739.12.
Among stocks to watch:
Lupin: Lupin Ltd, one of the leading pharmaceutical companies in India, will announce its Q4 number today. IIFL estimates the company’s net profit to propel to Rs.704 crore, at a rate of 28.7% yoy and 32.8% qoq.
Reliance Industries: Reliance Industries Ltd (RIL), which is targeting to start production of coal bed methane (CBM) from its Sohagpur (West) block in Madhya Pradesh in FY17, has sought marketing and pricing freedom for the commodity, reports a financial newspaper.
Parag Milk Foods: Parag Milk Foods to list today. The company’s Rs.760 crore initial public offering (IPO), which was extended by three days, was oversubscribed 1.83 times on the final day of the offer which ended on May 11.
Tata Communications: Singapore Technologies Telemedia (STT), owned by Temasek Holdings, will buy a 74% stake in the data centre unit of Tata Communications for ~US$500 million, or Rs.3,250 crore, reports a national daily.
Coal India: Coal India Ltd has been told to provide the full contracted quantity of coal to power generation companies under the fuel supply agreements (FSAs) signed in 2011, Power & Coal Minister Piyush Goyal has been quoted as saying by a financial newspaper.
ONGC: ONGC Videsh Ltd (OVL), the overseas investment arm of ONGC, is looking to set up a crude oil trading vertical soon, reports a business daily. OVL is in talks with international players to set up the desk overseas.
Indian Hotels Company: Indian Hotels Company Ltd, which owns the Taj Group of hotels, has decided to sell Taj Boston at a base price which is not lower than US$125 million (~INR 837 crore).
NTPC: NTPC has withdrawn the notice to Delhi-based BSES power distribution companies regarding regulation of power supply due to pending dues following an amicable settlement, reports a business daily.
Maruti Suzuki: Maruti Suzuki has launched the country's best selling Alto 800 with all new design and features, and fuel efficiency. The new Alto 800 now delivers a fuel efficiency of 24.7 Km/l of petrol, around 9 per cent improvement over the earlier version.
Pidilite Industries: Pidilite Industries Ltd., largest adhesive manufacturer, will announce its Q4 results today. IIFL estimates the company’s net profit to go up to Rs.129 crore, at a rate of 59.7% yoy and fall of 30.7 qoq.
Castrol India: BP, the promoter of the company, is looking to sell a stake worth up to $287 million in its Indian subsidiary though a block trade on Thursday, as per ET report.
Crompton Greaves Consumer Electrical: The company reported a standalone net profit of Rs 66.61 crore for the fourth quarter ended on March 31.
IFB Industries: The company net profit stood at Rs.5 crore while the total income of the company came in at Rs.368.5 crore as against Rs.326.9 crore yoy basis.
Torrent Power: Torrent Power posted a net profit at Rs. 277.60 mn for the quarter ended March 31, 2016 where as the same was at Rs. 1816.10 mn for the quarter ended March 31, 2015.
Telecom stocks in focus: Idea Cellular subscribers dropped 0.22% to 174.69 million in April as compared with March 2016 subscribers. Bharti Airtel added maximum number of subscribers i.e. 0.98 million in the month of April reaching 252.22 million subscribers. MTNL remained flat at 3.57 million subscribers. Videocon emerged as the top loser with a decline of 21.48% to 5.15 million subscribers, as per COAI report.
Novartis: The company announced changes to focus its Pharmaceuticals Division by creating two business units reporting to the CEO: Novartis Pharmaceuticals and Novartis Oncology.
Tata Motors: Life Insurance Corporation of India (LIC) has increased its shareholding in Tata Motors from 4.91 per cent to 7.01 per cent through purchase of shares between January 8, 2013, and May 17, 2016, Tata Motors said in a regulatory filing.
JK Lakshmi Cement: JK Lakshmi Cement Ltd posted a net profit of Rs.483.80 mn for the quarter ended March 31, 2016 compared with Rs.60.50 million for the quarter ended March 31, 2015.
Corporation Bank: The bank has posted a net loss of Rs.511 crore for the quarter ended March 31, 2016 as compared to net profit of Rs. 45.1 crore for the quarter ended March 31, 2015.
Dr Reddy's: Drug firm Dr Reddy's Laboratories is recalling over 50,000 bottles of Ondansetron tablets made at the company's Bachupally plant in India, on account of failed impurities/ degradation specifications.
Sobha Developers: The company will announce its financial results today. IIFL estimates the company’s net profit to drop to Rs.55 crore, at a rate of 10.6% yoy; however, the same is likely to spurt 71.3% qoq.
The Indian stock market to open on a flat note. Parag Milk Foods to list today. On the gobal front, US blue chip stock indices closed flat on Wednesday while the technology shares managed to post modest gains after minutes from the Federal Reserve's last policy meeting indicated that a rate hike in June cannot be ruled out.The Dow Jones Industrial Average declined 3.36 points to close at 17,526.62. The blue-chip gauge traded within a 218-point range during the day.The S&P 500 index rose by 0.42 points at 2,047.63, with The index trading within a 26-point range on the day. Meanwhile, the Nasdaq Composite Index climbed 23.39 points, or 0.5%, to settle at 4,739.12.
Among stocks to watch:
Lupin: Lupin Ltd, one of the leading pharmaceutical companies in India, will announce its Q4 number today. IIFL estimates the company’s net profit to propel to Rs.704 crore, at a rate of 28.7% yoy and 32.8% qoq.
Reliance Industries: Reliance Industries Ltd (RIL), which is targeting to start production of coal bed methane (CBM) from its Sohagpur (West) block in Madhya Pradesh in FY17, has sought marketing and pricing freedom for the commodity, reports a financial newspaper.
Parag Milk Foods: Parag Milk Foods to list today. The company’s Rs.760 crore initial public offering (IPO), which was extended by three days, was oversubscribed 1.83 times on the final day of the offer which ended on May 11.
Tata Communications: Singapore Technologies Telemedia (STT), owned by Temasek Holdings, will buy a 74% stake in the data centre unit of Tata Communications for ~US$500 million, or Rs.3,250 crore, reports a national daily.
Coal India: Coal India Ltd has been told to provide the full contracted quantity of coal to power generation companies under the fuel supply agreements (FSAs) signed in 2011, Power & Coal Minister Piyush Goyal has been quoted as saying by a financial newspaper.
ONGC: ONGC Videsh Ltd (OVL), the overseas investment arm of ONGC, is looking to set up a crude oil trading vertical soon, reports a business daily. OVL is in talks with international players to set up the desk overseas.
Indian Hotels Company: Indian Hotels Company Ltd, which owns the Taj Group of hotels, has decided to sell Taj Boston at a base price which is not lower than US$125 million (~INR 837 crore).
NTPC: NTPC has withdrawn the notice to Delhi-based BSES power distribution companies regarding regulation of power supply due to pending dues following an amicable settlement, reports a business daily.
Maruti Suzuki: Maruti Suzuki has launched the country's best selling Alto 800 with all new design and features, and fuel efficiency. The new Alto 800 now delivers a fuel efficiency of 24.7 Km/l of petrol, around 9 per cent improvement over the earlier version.
Pidilite Industries: Pidilite Industries Ltd., largest adhesive manufacturer, will announce its Q4 results today. IIFL estimates the company’s net profit to go up to Rs.129 crore, at a rate of 59.7% yoy and fall of 30.7 qoq.
Castrol India: BP, the promoter of the company, is looking to sell a stake worth up to $287 million in its Indian subsidiary though a block trade on Thursday, as per ET report.
Crompton Greaves Consumer Electrical: The company reported a standalone net profit of Rs 66.61 crore for the fourth quarter ended on March 31.
IFB Industries: The company net profit stood at Rs.5 crore while the total income of the company came in at Rs.368.5 crore as against Rs.326.9 crore yoy basis.
Torrent Power: Torrent Power posted a net profit at Rs. 277.60 mn for the quarter ended March 31, 2016 where as the same was at Rs. 1816.10 mn for the quarter ended March 31, 2015.
Telecom stocks in focus: Idea Cellular subscribers dropped 0.22% to 174.69 million in April as compared with March 2016 subscribers. Bharti Airtel added maximum number of subscribers i.e. 0.98 million in the month of April reaching 252.22 million subscribers. MTNL remained flat at 3.57 million subscribers. Videocon emerged as the top loser with a decline of 21.48% to 5.15 million subscribers, as per COAI report.
Novartis: The company announced changes to focus its Pharmaceuticals Division by creating two business units reporting to the CEO: Novartis Pharmaceuticals and Novartis Oncology.
Tata Motors: Life Insurance Corporation of India (LIC) has increased its shareholding in Tata Motors from 4.91 per cent to 7.01 per cent through purchase of shares between January 8, 2013, and May 17, 2016, Tata Motors said in a regulatory filing.
JK Lakshmi Cement: JK Lakshmi Cement Ltd posted a net profit of Rs.483.80 mn for the quarter ended March 31, 2016 compared with Rs.60.50 million for the quarter ended March 31, 2015.
Corporation Bank: The bank has posted a net loss of Rs.511 crore for the quarter ended March 31, 2016 as compared to net profit of Rs. 45.1 crore for the quarter ended March 31, 2015.
Dr Reddy's: Drug firm Dr Reddy's Laboratories is recalling over 50,000 bottles of Ondansetron tablets made at the company's Bachupally plant in India, on account of failed impurities/ degradation specifications.
Sobha Developers: The company will announce its financial results today. IIFL estimates the company’s net profit to drop to Rs.55 crore, at a rate of 10.6% yoy; however, the same is likely to spurt 71.3% qoq.
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