 "Pre-market: Marginal gains seen, RIL in focus")
Markets are likely to open with marginal gains with index heavyweight Reliance Industries in focus after the company reported its highest quarterly profits in two years. The April derivative contracts will expire on Wednesday as the markets will remain closed on Thursday because of elections in Mumbai.
At 8:30AM, the SGX Nifty was up 7 points at 6,815.
Asian markets were trading with marginal gains with the Nikkei up 0.7% while Shanghai Composite was trading nearly unchanged. Straits Times was trading with marginal gains. Hong Kong market was closed on account of Easter holidays.
The Dow Jones ended down 0.1% at 16,408.54, the broader S&P 500 gained 0.1% at 1,864.85 and the tech laden Nasdaq ended up 0.2% at 4,095.52.
Stocks in Focus
Reliance Ind will be in focus after the company's net profit in the January-March quarter increased 0.8 per cent on an annual basis to Rs 5,631 crore, the highest in a quarter in two years. While this was very close to the Street’s estimates of Rs 5,656 crore, what came as a surprise to many analysts was the company’s better-than-expected operational performance.
State-owned Punjab National Bank (PNB) has sold its entire 30 per cent stake in India Factoring & Financial Solutions Ltd (IFFSL) for Rs 107.83 crore.
Welcast Steels may see some action after the company said its board will meet on April 29 to consider dividend for financial year 2013-14.
Bajaj Auto will be in focus on reports that workmen plan to stop work at its Chakan plant from April 28.
Gujarat Pipavav has revised its expansion of container handling capacity to 1.35 Million TEUs frmo 1.35m TEUs at an estimated cost of around Rs 460 crore.
Wipro will be in focus on robust March quarter earnings but guidance for the first quarter was not so encouraging.
Alstom India will be in focus after the company siad it has been awarded a contract by Bharat Heavy Electricals Limited (BHEL) worth approximately €30 million to supply components and services for the 2x660 MW Banharpalli Super Thermal Power Project (STPP) located in Jharsaguda, Orissa.
Shashun Pharma will be in action on plans of share allotment via preferential issue.
Liberty Shoes will see some gains on robust fourth quarter earnings.
Companies which are scheduled to announce their fourth quarter results include LIC Housing Finance and Hindustan Zinc.
At 8:30AM, the SGX Nifty was up 7 points at 6,815.
Asian markets were trading with marginal gains with the Nikkei up 0.7% while Shanghai Composite was trading nearly unchanged. Straits Times was trading with marginal gains. Hong Kong market was closed on account of Easter holidays.
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US stocks ended mixed on Thursday amid encouraging jobs data and healthy earnings from large corporations including General Electric. The claims for unemployment benefits rose to 2,000 to a seasonally adjusted 304,000 in the week to April 12, the US Labour Department said. Markets were closed on Friday on account of Good Friday.
The Dow Jones ended down 0.1% at 16,408.54, the broader S&P 500 gained 0.1% at 1,864.85 and the tech laden Nasdaq ended up 0.2% at 4,095.52.
Stocks in Focus
Reliance Ind will be in focus after the company's net profit in the January-March quarter increased 0.8 per cent on an annual basis to Rs 5,631 crore, the highest in a quarter in two years. While this was very close to the Street’s estimates of Rs 5,656 crore, what came as a surprise to many analysts was the company’s better-than-expected operational performance.
State-owned Punjab National Bank (PNB) has sold its entire 30 per cent stake in India Factoring & Financial Solutions Ltd (IFFSL) for Rs 107.83 crore.
Welcast Steels may see some action after the company said its board will meet on April 29 to consider dividend for financial year 2013-14.
Bajaj Auto will be in focus on reports that workmen plan to stop work at its Chakan plant from April 28.
Gujarat Pipavav has revised its expansion of container handling capacity to 1.35 Million TEUs frmo 1.35m TEUs at an estimated cost of around Rs 460 crore.
Wipro will be in focus on robust March quarter earnings but guidance for the first quarter was not so encouraging.
Alstom India will be in focus after the company siad it has been awarded a contract by Bharat Heavy Electricals Limited (BHEL) worth approximately €30 million to supply components and services for the 2x660 MW Banharpalli Super Thermal Power Project (STPP) located in Jharsaguda, Orissa.
Shashun Pharma will be in action on plans of share allotment via preferential issue.
Liberty Shoes will see some gains on robust fourth quarter earnings.
Companies which are scheduled to announce their fourth quarter results include LIC Housing Finance and Hindustan Zinc.