 "Markets to see a cautious opening; RBI policy in focus")
Markets are likely to open on a cautious note with rate sensitives in focus as participants are likely to adopt wait and watch stance ahead of the RBI monetary policy review later today.
Meanwhile, stock specific action is likely to continue post the announcement of the third quarter earnings.
Meanwhile, stock specific action is likely to continue post the announcement of the third quarter earnings.
STOCKS IN LIMELIGHT
Rate sensitive stocks including banks, auto and realty will remain in focus ahead of the RBI policy review.
Tech Mahindra posted a marginal increase in revenue for December quarter, in-line with the street expectations.
Tata Motors will remain in focus after it sold 47,034 units in January 2016 as against 42,595 units during corresponding month previous year.
TVS Motor Company posted an increase of 12.4% in two wheeler sales 201,233 units during the month of January 2016, as against 179,036 units sold during January, 2015.
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Hero MotoCorp posted a marginal rise in sales at 5,63,348 units in January.
Coal India is likely to see an uptick after it achieved a production of 52.86 million tonnes coal in January, lower than the target of 56.18 MT for the month.
Dr Reddy's Laboratories is likely to see some action after it received the USFDA nod for two new drugs in three days, in a sign that top Indian drug makers might be looking to move beyond generics to come out with some original drugs of their own.
Jindal Saw posted 37% drop in net profit at Rs 39 crore for the December quarter.
Among some of the notable stocks, Crompton greaves and DLF will report the third quarter earnings today.
GLOBAL MARKETS
Asian shares are trading largely in the red barring China shares after crude oil prices slipped on oversupply concerns and sluggish manufacturing data raised worries about global growth. Japan’s Nikkei, Hong Kong’s Hang Seng has slipped up to 0.2%. On the flip side, China’s Shganghai Composite has rebounded and is trading nearly 2% higher.
US equities closed flat taking cues from a downbeat China manufacturing data and falling oil prices. Meanwhile, US economic data indicated that the manufacturing activity shrink in January for a fourth straight month.