At 08:42 am, Nifty futures on the Singapore Exchange (SGX) were trading 24.75 points or 0.28 per cent higher at 8,915.80, indicating a muted start for the Indian market on Wednesday.
Here’s a look at the top stocks that may trade actively in today’s session –
RIL: Reliance Industries’ proposed rights issue, the biggest-ever equity fund raise by an Indian company is set to open today. The company aims to raise Rs 53,125 crore. READ MORE
Bajaj Finance: For the first time in six years, Bajaj Finance reported a contraction in net profit, down 19 per cent year-on-year because of higher provisioning costs. Pre-tax profit fell 29 per cent year-on-year.
Earnings today: A total of 22 companies including Bajaj Auto, Dr Reddy’s Laboratories, UltraTech Cement, and Jubilant FoodWorks, are scheduled to announce their March quarter earnings later in the day.
Apollo Tyres: Apollo Tyres on Tuesday reported a 7.36 per cent decline in its consolidated net profit to Rs 77.8 crore for the fourth quarter ended March 31, 2020. The company had posted a net profit of Rs 83.99 crore for the January-March period of 2018-19.
Tata Steel: Tata Steel Europe has restarted negotiations with Germany’s Thyssenkrupp for a possible merger almost a year after the two companies called off a joint venture proposal, citing the European Commission’s objections. READ MORE
IRCTC: As a step towards a gradual restart of services, the Indian Railways has decided to double the number of Shramik special trains to 400 a day by this week and also start 200 new time tabled non-air conditioned trains starting from June 1.
L&T Infotech: Larsen & Toubro Infotech (LTI)’s consolidated net profit for the quarter ended March 2020 (Q4FY20) rose 13 per cent year-on-year to Rs 427.5 crore. It rose 13.5 per cent on a sequential basis. Revenue of the Mumbai-headquartered IT services firm rose 21.2 per cent year-on-year to Rs 3,011.9 crore during this period.
Embassy REIT: It reported a 10 per cent year-on-year rise in net operating income for the quarter ended March at Rs 461.8 crore. India’s first listed Real Estate Investment Trust (REIT) reported 8 per cent growth in revenue at Rs 543.9 crore, said the company.