Indian stock markets are likely to open in green as Asian stocks showed positive momentum early Wednesday. The Nifty futures were trading 43.50 points or 0.28 percent higher at the 15,831.00 level on the Singaporean Exchange at 7:10 am cnbctv18.com reported.
Top stock to look for the day:
Cipla: The pharma company said it is supporting Moderna Inc. with the regulatory approval and importation of vaccines to be donated to India. However, there is no definitive agreement on commercial supplies at this stage.
Tata Coffee: Indian independent credit rating agency ICRA has upgraded the long term rating to AA+/Stable from AA/Stable and re-affirmed the short term rating at A1+.
Bharat Electronics: The state-owned aerospace and defence company has inked a pact with the Indian Navy to develop emerging technologies related to artificial intelligence, quantum computing and robotics.
Reliance Industries: The company has signed an agreement with Abu Dhabi National Oil Company (ADNOC) to set up a new petrochemical complex in the TA’ZIZ Industrial Chemicals Zone, Ruwais, Abu Dhabi.
Indiabulls Housing Finance: The company has approved a proposal to raise over Rs 7,000 crore through various means. This includes USD 275 million (approx. Rs 2,043.43 crore) by issuing equity shares and other instruments.
Pharma stocks: Pharma majors including Cipla, Dr Reddy’s Laboratories, Sun Pharmaceutical Industries and Torrent Pharmaceuticals will jointly sponsor, supervise and monitor the clinical trials an investigational oral anti-viral drug Molnupiravir for the treatment of mild COVID-19 in an outpatient setting in India.
IndusInd Bank: The bank has sold more than 70 lakh shares of tea manufacturing firm McLeod Russel India on June 28.
AstraZeneca Pharma India: The pharma major has filed a petition in Delhi high court challenging the National Pharmaceutical Pricing Authority (NPPA)notice to pay Rs 157 crore, alleging overcharging of Tagrisso 80 mg tablets by the company.
IRCTC: The company’s Q4FY21 net profit fell 23 percent to Rs 103.78 crore from Rs 135.14 crore, Revenue fell to Rs 358.25 crore from Rs 595.70 crore. YoY.
Sterling and Wilson Solar: The company reported a consolidated net loss of Rs 344.80 crore against Rs 128.59 crore net profit in the year-ago quarter. Total income also declined to Rs 1,416.33 crore from Rs 2,120.50 crore, YoY.
Uflex: The company reported a consolidated net profit of Rs 264.95 crore in Q4FY21 against Rs 100.90 crore in the same period last year. Revenue jumped 45.05 percent to Rs 2,571.77 crore from Rs 1,773 crore, YoY.
GOCL Corporation: The company’s Q4FY21 consolidated net profit increased to Rs 27.48 crore from Rs 13.81 crore,while revenue stood at Rs 150 crore against Rs 151 crore, YoY.
Ruchi Soya Industries: The company reported a net profit of Rs 314.33 crore in Q4FY21 against a net loss of Rs 41.24 crore in the previous fiscal. Total revenue was up by 8 percent to Rs 4,859.5 crore from Rs 3,209.02 crore, YoY.
Earnings: Dish TV India, Emami Realty, IRCON International, MEP Infrastructure Developers, SpiceJet, Simplex Infrastructures, Sadbhav Engineering, SREI Infrastructure Finance, VIP Clothing and Vodafone Idea among others will announce their quarterly results on June 30.