At 9:13 am, Nifty futures on the SGX were trading 80.65 points or 0.8 per cent higher at 10,061.80, indicating a gap-down start for the Indian market on Thusday.
Here’s a look at the top stocks that may remain in focus today –
Telecom stocks: Telecom stocks such as Bharti Airtel and Vodafone Idea may remain in focus as the Supreme Court will consider the issue of allowing telecom firms to pay the adjusted gross revenue (AGR) in a staggered fashion spread over 20 years.
Pharma stocks: Twenty-six drug manufacturers were sued on Wednesday by the attorneys general of most US states and several territories, which accused them of conspiring to reduce competition and drive up generic drug prices.
Earnings today: As many as 23 companies, including Dixon Technologies, and KNR Constructions are scheduled to report their March quarter earnings today.
Shriram Transport Finance Company on Wednesday reported a 70 per cent dip in its consolidated net profit at Rs 223.38 crore for the quarter to March 2020. The non-banking financial company had reported a net profit of Rs 746.04 crore during the corresponding January-March quarter a year ago.
Voltas: Tata group firm Voltas has launched ultraviolet light (UVC) based surface disinfectant solutions in response to the ongoing COVID-19 crisis. This is in addition to the engineered UVC based air and duct disinfectant solutions that the company has been offering its consumers for the past several years, Voltas said in a statement.
Jindal Stainless Hisar Ltd (JSHL) on Wednesday reported 43 per cent jump in standalone net profit at Rs 93.79 crore for the quarter ended March 31, 2020, mainly on account of reduced expenses. The company’s net profit stood at Rs 65.59 crore in January-March 2018-19, JSHL said in a BSE filing.
Tata group arm Indian Hotels Company (IHCL) on Wednesday reported a consolidated profit before tax (PBT) and exceptional items of Rs 58.1 crore for the March quarter. This is drop of 69.3 per cent year-on-year. Its consolidated net profit at Rs 76.29 crore was down 37.75 per cent.
Century Textiles and Industries on Wednesday reported 43.94 per cent decline in consolidated net profit at Rs 79.88 crore for March quarter 2019-20 due to the impact of Covid-19. The company logged a profit ofRs 142.50 crore in January-March period a year ago, Century Textiles and Industries Ltd (CTIL) said in a BSE filing.