NEW DELHI: Indian market is expected to open lower on Thursday tracking mixed trend seen in other Asian markets.
“In Wednesday’s trading session, the breakdown with relatively large range candlestick pattern indicates bearishness in coming future. A strong supply zone is visible around 8,700 levels,” Rohit Gadia, Founder & CEO, CapitalVia Global Research Ltd.
“The buyers are constantly facing difficulties to push the market above the key level of 8,700 which going forward will be key level to watch to judge the strength of the bulls, below this level market is likely to stay in the control of the sellers,” he said.
Here is a list of top fifteen stocks that are likely to be in focus today:
Tata Group stocks: Tata group stocks will be in focus after Ousted Tata Group Chairman Cyrus Mistry accused directors at India’s largest conglomerate of wrongfully dismissing him and warned that the tea-to-software giant may face $18 billion in writedowns because of five unprofitable businesses he inherited.
Hero MotoCorp: Two-wheeler major Hero MotoCorp on Wednesday beat Street estimates to post Rs 1,004 crore profit after tax for the September quarter compared with Rs 772 crore posted for the same quarter a year ago.
Q2 results: Some 135 companies will announce their September quarter earnings on Thursday. The list includes Maruti Suzuki,ONGC, Tech Mahendra, ABB, MRF, PVR, TVS Motor, Emami and Bharat Electronic, among others.
JSW Energy: JSW Energy reported 59 per cent decline in its consolidated net profit at Rs 217.39 crore for the September quarter as against a year ago due to lower power output and higher fuel costs.
Torrent Pharma: Drug firm Torrent pharmaceuticals reported 59.33 per cent dip in consolidated net profit to Rs 207 crore for the second quarter ended September 30, 2016.
Tata Steel : UK steelworkers’ union head Roy Rickhuss said news that Cyrus Mistry has been removed as Chairman came as a surprise.
ONGC: Iran has given an ultimatum to ONGC Videsh Ltd over development of the coveted Farzad-B gas field in the Persian Gulf even as the Oil Ministry said it hopes to conclude a deal by February next year.
IOC: The oil & gas major is expected to report a profit of Rs 3153 crore for the quarter ended September 30 compared with Rs 329 crore loss in the year-ago period.
Maruti Suzuki: India’s largest automaker is expected to report 48 per cent rise in net profit to Rs 1,815 crore for the quarter ended September 30 compared with Rs 1,225 crore reported in the year-ago period.
Noida Toll Bridge: The DND or Delhi-Noida-Direct Flyway connecting the capital to neighbouring Noida in Uttar Pradesh will be toll-free from now, which brings sweet relief to millions of commuters.
Sun Pharma: Auven Therapeutics, an international private equity company focused announced the execution of definitive agreements for the sale of 100 percent of Ocular Technologies Sarl, to a wholly owned subsidiary of Sun Pharmaceutical Industries Ltd.
Hinduja Ventures Ltd: The company informed BSE that the Board of Directors of the Company at its meeting held on October 26 approved disinvestment of 10,00,000 equity shares of Rs. 10 each held in Indusind Media and Communications Limited.
Excel Crop Care Ltd: Excel Crop reported Q2FY17 results. Revenue for the quarter increased 13.2 per cent yoy to Rs 227 cr. The EBITDA increased by 36.4 per cent yoy to Rs 38.2 cr while EBITDA margins improve by 235 bps yoy to 13.8%. This was driven by 90% yoy decline in inventories.
Raymond: The company reported a net profit of Rs 26.6 crore for the quarter ended September 30 for the quarter ended September 30 compared with Rs 5.7 crore reported in the year-ago period.
Cummins India: Power solutions provider Cummins India’s standalone net profit was flat at Rs 196.90 crore for the quarter ended September 30, 2016, against that of Rs 197.95 crore in the corresponding quarter of previous fiscal.