“The Nifty ended with a positive close but a poor candlestick by the end of Tuesday’s trading suggest supply increasing as the index once again makes a move towards its 7950-8000 resistance range,” Siddhartha Khemka, Head – Research, Centrum Wealth.
“The overall setup is positive for the index as long as above 7780 which is the lower end of its demand range. A further momentum in the index can though be expected in case of a breach of 8000 levels,” he added.
Here is a list of top fifteen stocks that are likely to be in focus today:
State Bank of India: SBI plans to sell part of its holding in National Stock Exchange (NSE), where it owns 15 per cent stake. In a press release, SBI said its board has given in-principle approval for the bank to discuss the possibility of acquiring its associate banks.
LT Foods: Hindustan Unilever has received Competition Commission of India’s nod to sell its rice export business to Delhi-based LT Foods. The deal, announced in March, allows transfer of the brands and inventory to LT Foods for Rs 25 crore.
Shriram Group companies: Business tycoon Ajay Piramal now plans to bring all his finance entities under one roof, including those of the Shriram Group, in which he is the single largest shareholder.
HDFC Ltd: HDFC said the company will raise Rs 1,500 crore by issuing debentures on a private placement basis.
Fresh inclusions in derivative segment: Jubilant Life Sciences, NIIT Tech, Torrent Power , Emami, Intellect Design and Vakrangee are likely to be included in the equity derivatives segment in the next round of review by NSE, said analysts at ICICI Securities, Anand Rathi and IDBI Capital.
Punjab National Bank: The public sector bank is expected to report 81 per cent YoY drop in net profit to Rs 58 crore compared to Rs 307 crore reported in the year-ago period, Angel Broking said in a note.
JSW Steel: The steel major is expected to report a net loss of Rs 64 crore for the quarter ended March 31 compared to Rs 31 crore profit reported in the year-ago period, said the Angel Broking estimates.
L&T: Markets watchdog Sebi has sought clarification from the merchant banker of L&T Infotech, an arm of engineering giant Larsen and Toubro (L&T), regarding the company’s proposed initial public offering.
SpiceJet: Budget passenger carrier SpiceJet on Tuesday launched a new sale offer to commemorate 11 years of its operations.
Coal India: The Competition Appellate Tribunal today set aside the Rs 1,773 crore fine imposed on Coal India for unfair business ways and asked CCI to consider the matter afresh.
NBCC: The state-run NBCC has dropped plans to raise Rs 1,000 crore fresh capital through FPO route, saying it currently does not require funds for business expansion.
Tata Steel: Tata Steel’s board has approved the company’s decision to seeking recall of the scheme of amalgamation between Tata Metaliks and Tata Metaliks DI Pipes Limited with the company. The scheme of amalgamation between was earlier sanctioned by the Bombay High Court on August 21, 2015.
GlaxoSmithKline (GSK) Consumer Healthcare Ltd: The pharma company on Tuesday reported an 8.18 per cent decline in its standalone net profit for the March quarter at Rs 180.68 crore.
Mahindra Holidays & Resorts India Ltd: Mahindra Group firm Mahindra Holidays & Resorts India Ltd reported a standalone net profit of Rs 32.09 crore for the quarter ended March 31, 2016.
United Bank of India: Higher non-performing assets and provisioning pulled Kolkata-based United Bank of India into red, as the bank posted a net loss of about Rs 413.04 crore for Q4 of FY16, against a profit of around Rs 105.52 crore in the same period last year.
Syndicate Bank: The state-owned Syndicate Bank reported a net loss of Rs 2,158.17 for the quarter ending March 2016 due to more than three-fold rise in provisions for bad loans and contingencies.
Voltas: Tata Group firm Voltas reported a 51.43 per cent increase in its consolidated net profit at Rs 180.71 crore for the March quarter on account of improvement in order execution by projects business.