Live Stock Market Updates - Sensex surges over 350 points ;
Nifty above 7850, Sensex surges; HDFC, SBI, Tata Motors gainers ICICI Bank, HDFC, SBI, Tata Motors and Maruti are gainers while Cipla and Coal India are losers in the Sensex.
The Indian stock market is surging ahead with strong support from auto, banks, IT and capital goods stocks. The Sensex is up 374.03 points or 1.5 percent at 25679.50 and the Nifty is up 122.05 points or 1.6 percent at 7870.90. About 1448 shares have advanced, 649 shares declined, and 120 shares are unchanged.
ICICI Bank, HDFC, SBI, Tata Motors and Maruti are gainers while Cipla and Coal India are losers in the Sensex. Oil prices edged towards USD 50 a barrel after a larger-than-expected dip in US stockpiles resulting from wildfires that have disrupted oil production in Canada.
Top level stocks in focus today: L&T, Cipla, and Bharti Airtel; check out the companies which will be in focus during trade today based on recent and latest news developments.
Larsen & Toubro: Larsen & Toubro Ltd, one of the leading engineering and construction firms in India, will announce its Q4 numbers today. IIFL estimates the company’s net profit to plummet to Rs.1,800 crore, at a rate of 13% yoy; however, the same is likely to rise 73.9% qoq.
Bharti Airtel: Bharti Airtel has entered into a definitive agreement to acquire 1800 MHz spectrum from Videocon Telecom for Rs.4,428 crore.
Cipla: The Company has posted a net profit after minority interest and share of profit of associates of Rs. 808.70 million for the quarter ended March 31, 2016 whereas the same was at Rs. 2596.60 million for the quarter ended March 31, 2015.
Tech Mahindra: The Company’s consolidated revenue stood at Rs. 6,883.73 crore, up 2.72% qoq and 12.54% yoy.
Amara Raja Batteries Ltd: posted a net profit of Rs. 1086.00 million for the quarter ended March 31, 2016 as compared to Rs. 1022.60 million for the quarter ended March 31, 2015.
Apollo Hospitals: Apollo Hospitals, one of the leading hospital-chain in India, will announce its financial results today. As per IIFL’s forecast, the company’s net revenue for Q4 FY16 is expected to rise to Rs.1,443 crore, at a rate of 19.9% yoy and 4.5% qoq.
Bank of India: The Bank has posted a net loss of Rs.3587 crore for the quarter ended March 31, 2016 whereas the same was at Rs.56.1 crore for the quarter ended March 31, 2015.
Tata Power: The Company is planning to raise up to Rs 4,000 crore by selling corporate bonds as it aims to fund its proposed acquisition of renewable energy assets from the Welspun group, as per media reports.
Monsanto: Monsanto rejected Bayer's $62 billion takeover bid, calling it "incomplete and financially inadequate.” according to reports. The company reportedly said that a higher bid might be accepted.
MOIL: The Company reported a 79% fall in standalone net profit at Rs.21.38 crore for the fourth quarter ended March 31.
Narayana Healthcare: The Company has entered into agreement with Kenyan Doctors & Financial Institutions to set up a multi specialty hospital in Nairobi.
Jammu & Kashmir Bank: The bank reported a net loss of Rs.56.02 crore in the quarter ended March 31, due to rise in bad loans.
Omaxe: The Company reported 21% increase in consolidated net profit to Rs.24.35 crore for the quarter ended March 31 on higher sales.
Axis Bank: Axis Bank announced that it priced US$500 million 2.875% Senior Unsecured Notes due 2021. The Notes are issued by Axis Bank’s DIFC branch, Dubai and are rated Baa3 by Moody's, BBB- by S&P and BBB- by Fitch.
Parsvnath Developers: The real estate company reported a profit of Rs.5.93 crore for the quarter ended March, 2016, as against a loss of Rs.140.9 crore in the year-ago period.
Subex: The telecom software product company reported a fivefold increase in profits at Rs.58.7 crore for the financial year ending March 31, 2016.
Ajanta Pharma: The Pharma company has received final approval for the generic version of its acute migraine pain relief drug Zolmitriptan tablets from the US health regulator.
Zee Media Corporation Ltd: The Company posted a consolidated net profit of Rs.18.26 crore for the fourth quarter that ended on March 31, 2016.
Stock Markets are likely to make a strong opening in trades today supported by global cues.
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