“On the four-hour chart Nifty50 has given a breakout of the bullish falling-wedge pattern and is expected to trade bullish for the upcoming trading session,” Rohit Gadia, Founder & CEO, CapitalVia Global Research Ltd told ETMarkets.com.
“Key support comes at 7850 below which the 7770-8000 level is likely to provide support in case we see retracement of the on-going short term uptrend,” he added.
Here is a list of top fifteen stocks that are likely to be in focus today:
L&T: Engineering and construction major Larsen & Toubro (L&T) on Wednedsay reported a 18.53 per cent YoY rise in profit after tax (PAT) to Rs 2,454 crore for the March quarter.
Aditya Birla Fashion and Retail Limited: ABFRL on Wednesday said it is acquiring the online and offline rights of American fast-fashion brand Forever 21 in the Indian market, third time the US fashion brand is changing its India partner.
Tata Steel Ltd: Tata Steel reported a consolidated net loss of Rs. 3213.76 crore for the March quarter against a loss Rs. 5674.29 crore in the year ago period.
GAIL (India) Ltd: The country’s largest natural gas pipeline operator, has posted a 51% jump year on year in its profit for the quarter ended March at Rs 770 crore on increased transmission volumes and trading margins.
Dr Reddy’s Laboratories: Drug major Dr Reddy’s Laboratories has forayed into branded consumer health products segment in the US market by acquiring six over-the-counter (OTC) brands from Ducere Pharma for an undisclosed amount.
Reliance Industries Ltd: (RIL) and joint venture partner BP Plc are moving towards ending their dispute with the government on gas pricing, but are yet to officially approve the proposal for it, industry sources said. RIL and BP declined to comment on the matter.
Nalco: Aluminium maker Nalco said its board has approved a proposal to buy back 64.43 crore shares worth close to Rs 2,835 crore, a move that will lead to liquidation of government’s stake in the firm.
Container Corporation of India Ltd: Concor reported 51.7 per cent YoY drop in the net profit to Rs 141 crore for the quarter ended March 31 compared with Rs 292.7 crore reported in the year-ago period.
Usha Martin: Usha Martin reported a loss of Rs 153 crore for the quarter ended March 31 compared with Rs 130.50 crore reported in the year-ago period.
Abbott India: Drug firm Abbott India reported an 18.58 percent rise in its standalone net profit to Rs 59.01 crore for the fourth quarter ended March 2016, mainly on account of robust sales.
Thermax Ltd: Energy and environment solutions provider Thermax Ltd reported 16 per cent decline in standalone net profit at Rs 111.15 crore for the quarter ended March 31, 2016.
Cummins India: Engines manufacturer Cummins India reported a 13.8 per cent decline in standalone net profit at Rs 164.15 crore for the fourth quarter ended March 31, 2016.
Engineers India: EIL reported 35.8 per cent YoY fall in the net profit to Rs 69.9 crore for the quarter ended March 31 compared with Rs 108.90 crore reported in the year-ago period.
Prism Cement: The company reported a flat standalone net profit of Rs 61.88 for the quarter ended March 31, 2016. The company had clocked a net profit of Rs 61.89 crore in the year-ago period, it said in a regulatory filing.
Kwality Ltd: The company on May 25 reported a marginal decline in its net profit to Rs 33.35 crore for the quarter ended on March 31. The company had reported a net profit of Rs 34.14 crore for the same quarter in the 2014-15 fiscal.
Bajaj Holdings & Investment: BHIL reported a growth of 7.4 per cent in consolidated net profit at Rs 564 crore for the quarter ended March 2016. The company had registered a net profit of Rs 524.9 crore in the January-March quarter of the previous fiscal.