Indian markets are expected to open lower tracking global markets. Trends on SGX Nifty indicate a flat opening for the index in India with a 4 points loss and as global markets fell amid speculation of rising inflation pressure that could trigger interest rate hikes sooner rather than later. The BSE Sensex declined 340.60 points to close at 49,161.81 on May 11, while the Nifty50 slipped 91.60 points to 14,850.80. Also, key support levels for the Nifty are placed at 14,781.47, followed by 14,712.13. If the index moves up, the key resistance levels to watch out for are 14,910.07 and 14,969.33.
Top stock to look for the day:
Godrej Consumer Products: The company reported sharply higher consolidated profit at Rs 365.84 crore in Q4FY21 against Rs 229.9 crore in Q4FY20, revenue rose to Rs 2,730.74 crore from Rs 2,153.80 crore YoY.
Infosys: The Indian IT multinational has been selected by Britvic to accelerate their digital strategy.
Bajaj Electricals: Indian independent credit rating agency ICRA retained the ratings given to the company’s non-convertible debentures (NCDs) and bank facilities (line of credit), post the relinquishment and transfer of joint control and management rights of Starlite Lighting (SLL).
Siemens: The company reported a higher consolidated profit at Rs 334.4 crore in Q2FY21 against Rs 175.7 crore in the corresponding fiscal last year. Its revenue rose to Rs 3,483.7 crore from Rs 2,640.2 crore YoY.
BASF India: The company reported a higher profit at Rs 55.81 crore in Q4FY21 against Rs 44.74 crore in the same quarter last year. Their revenue increased to Rs 2,805.5 crore from Rs 1,892.1 crore YoY.
Pennar Industries: SAIF India IV FII Holdings sold 31,81,239 equity shares or 2.24 percent shareholding via open market transaction on May 7, henceforth reducing stake from 8.54 percent to 6.30 percent.
Astec Lifesciences: According to bulk deals data Godrej Agrovet acquired 2 lakh equity shares in Astec Lifesciences at Rs 1,199.76 per share, whereas promoter Ashok Vishwanath Hiremath sold same number of shares of the company at Rs 1,200 per share on the BSE.
Kalpataru Power Transmission: The company reported sharply higher consolidated profit at Rs 174 crore in Q4FY21 against Rs 31 crore in the same period last fiscal. Revenue rose to Rs 4,086 crore from Rs 3,527 crore YoY.
Alembic: The company reported a lower consolidated profit at Rs 71.94 crore in Q4FY21 against Rs 115.43 crore in the March quarter ending last fiscal. Its revenue increased to Rs 28.89 crore from Rs 11.48 crore YoY.
Bliss GVS Pharma: The company reported higher consolidated profit at Rs 8.15 crore in Q4FY21 against Rs 5.57 crore in Q4FY20. Its revenue jumped to Rs 132.05 crore from Rs 119.8 crore YoY.
Matrimony.com: The company reported a higher consolidated profit at Rs 10.12 crore in Q4FY21 against Rs 6.78 crore in the same period last year. Revenue jumped to Rs 101.12 crore from Rs 94.1 crore YoY.
Linde India: The company reported a higher consolidated profit at Rs 303.2 crore in Q4FY21 against Rs 39 crore in corresponding period last year. Revenue increased to Rs 441.4 crore from Rs 377.2 crore YoY.
Andhra Paper: The company reported a lower profit at Rs 32.34 crore in Q4FY21 against Rs 92.92 crore in the same period last fiscal. However, its revenue increased to Rs 362.31 crore from Rs 279.66 crore YoY.
List of companies which are going to declare their quarterly results:
Asian Paints, Borosil Renewables, Apollo Tyres, Lupin, Avadh Sugar & Energy, Birla Corporation, Tata Power, Dwarikesh Sugar Industries, GRM Overseas, Happiest Minds Technologies, HG Infra Engineering, Jindal Steel & Power, JSW Ispat Special Products, Kaycee Industries, Kennametal India, Khaitan Chemicals & Fertilizers, Mahindra Lifespace Developers, Mid East Portfolio Management, Orient Electric, Palash Securities, Pidilite Industries, Prince Pipes and Fittings, PTL Enterprises, Saregama India, Sagar Cements, Sonata Software, SIL Investments, Swiss Military Consumer Goods, Trigyn Technologies, Thambbi Modern Spinning Mills, UPL, Voltas, Vardhman Concrete, Vaibhav Global, Vikas WSP,and Yasho Industries will release their quarterly earnings on May 12.
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