Pre-market: Bharti Airtel, HDFC, Reliance Power to be in focus today
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Bharti Airtel will react after reporting 30.5% growth in net profit at Rs 1,255 crore for the quarter ended March this year, owing to growth in data revenue.
Idea Cellular is likely to firm up after its consolidated profit after tax increased 60% to Rs 942 crore for the fourth quarter ended March 2015 against Rs 589.8 crore for the same quarter March 2014.
Mortgage lender HDFC and private banking major Axis Bank will be in focus ahead of their March quarter earnings later.
Reliance Power may see some action on reports that it has walked out of the Tilaiya Ultra Mega Power Project (UMPP) in the Hazaribagh district of Jharkhand, citing delay in land acquisition.
Godrej Consumer Products may see some pressure after reporting lower-than-expected earnings for the quarter ended March this year. Net profit for the quarter stood at Rs 266 crore against Bloomberg consensus estimate of Rs 274 crore.
Natco Pharma may extend gains on reports that Mylan rejected Teva's $40 billion takeover bid.
Nirlon may see some action on media reports that Singapore's sovereign wealth fund GIC is acquiring 63.9% stake in the Mumbai-based realty firm Nirlon Ltd for Rs 1,280 crore.
Tata Steel is likely to be in action on reports that British trade unions have sent a legal notice to Tata Steel to ballot some 17,000 employees for a proposed industrial action over a pension row.
Marico Kaya may react after it reported subdued earnings for the March quarter. Consolidated Net profit was lower at Rs 7.17 crore compared with Rs 12.08 crore in the same quarter last fiscal.
Kalpataru Power may firm up after the company announced that it has received new orders worth Rs 765 crore.
Other Latest News
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Samajwadi Party MP Dimple Yadav has said India will go back 15 years if the BJP wins the Lok Sabha polls, accusing the party of practising "divisive politics" to divert attention from real issues.
In an exclusive interview with PTI, Dimple Yadav, who is aiming to carry forward the legacy of her father-in-law and SP patriarch late Mulayam Singh Yadav by retaining the Mainpuri seat, asserted that the people are going to vote for change this time.
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Microsoft will invest $1.7 billion over the next four years into expanding cloud services and artificial intelligence in Indonesia, including building data centres, visiting chief executive Satya Nadella said on Tuesday.
Jakarta is Nadella's first stop on a trip to Southeast Asian countries aimed at promoting the US company's generative AI technology. He will go to Malaysia and Thailand later this week.
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JNK India stock made a strong market debut on Tuesday with its shares getting listed at Rs 621, a 50 per cent premium over its issue price of Rs 415 per share on the National Stock Exchange (NSE). Post listing, the stock moved to an intraday high of Rs 665, 60 per cent up over issue price.
At 10:02 am, JNK India stock was trading at Rs 651, 57 per cent higher than issue price, with around 6.19 million equity shares changing hands on the NSE, data shows.
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HSBC said on Tuesday its Chief Executive Noel Quinn will retire - a surprise departure by its hard-nosed leader of five years who has overseen a sweeping series of asset sales across the globe.
The bank said it has launched a formal process to find a successor.
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AstraZeneca has admitted for the first time in court documents that its Covid-19 vaccine, sold globally under the brand names Covishield and Vaxzevria among others, may lead to a rare side-effect. According to media reports, the admission was made in a legal document submitted to the UK High Court in February.
The company stated in the document that a rare side effect known as Thrombosis with Thrombocytopenia Syndrome (TTS) can happen even if there is no vaccination.
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