 "Pre-market: Volatility to increase as results trickle in")
Markets are likely to open higher as early leads in some of the states indicate that the BJP-led NDA is ahead in 60 constituencies compared with 37 for the Congress.
At 8:30 AM, the SGX Nifty was up 24 points at 7,164.
On Thursday, markets had surged in late trades to end at record highs on hopes that the BJP-led NDA would get a majority in the general elections and form a stable government.
Banks are likely to be in action with the Bank Nifty already at record highs. Private banking majors ICICI Bank, HDFC Bank, Axis Bank will be in focus as the BJP-led NDA would initiate reforms to stimulate growth.
Infrastructure stocks such as L&T and BHEL and those in constructions of roads/highways such as IRB Infra, IL&FS Transportation will also see some action amid hopes that several projects which are stalled may be cleared by the new government.
Reliance Industries and ONGC will be in action. In less than a year of signing a memorandum of understanding with Mukesh Ambani-promoted Reliance Industries Ltd (RIL) to explore the possibility of sharing the latter’s infrastructure on the East Coast, Oil and Natural Gas Corp (ONGC) has taken RIL to the Delhi High Court. The state-run company has accused RIL of pilfering gas from its blocks sitting next to the Ambani firm’s KG-D6 gas block.
Budget carrier SpiceJet today announced another sale offer, sixth in a row since January, with all-inclusive fares as low as Rs 1,899 from select cities including Chandigarh, Guwahati, Jaipur and Lucknow. The low-cost airlines also announces its March quarter results today.
On the back of consistent growth in its brands and retail business segment, Arvind Limited posted a 11.49 per cent growth in its standalone net profit for the fourth quarter ended March 31, 2014. The company saw its Q4 standalone net profit for the fiscal year 2013-14 rise to Rs 94.89 crore, up from Rs 85.11 for the corresponding period last fiscal 2012-13.
Zydus Wellness posted 41.83% decline in consolidated net profit at Rs 21.76 crore for the quarter ended March 31, 2014. The company had posted a net profit of Rs 37.41 crore for the quarter ended March 31, 2013, Zydus Wellness said in a filing to BSE.
Gujarat-based companies will also be in focus especially Adani Group shares which have seen a sharp rise recently will also gain if BJP-led NDA wins a majority.
At 8:30 AM, the SGX Nifty was up 24 points at 7,164.
On Thursday, markets had surged in late trades to end at record highs on hopes that the BJP-led NDA would get a majority in the general elections and form a stable government.
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Volatility also increased sharply in late trades and the India VIX surged 13.4% to end at 36.76. The VIX or volatility index is a measure of future volatility as priced in option premiums. Premiums tend to be on the higher side in anticipation of major events and correct after the event plays out.
Banks are likely to be in action with the Bank Nifty already at record highs. Private banking majors ICICI Bank, HDFC Bank, Axis Bank will be in focus as the BJP-led NDA would initiate reforms to stimulate growth.
Infrastructure stocks such as L&T and BHEL and those in constructions of roads/highways such as IRB Infra, IL&FS Transportation will also see some action amid hopes that several projects which are stalled may be cleared by the new government.
Reliance Industries and ONGC will be in action. In less than a year of signing a memorandum of understanding with Mukesh Ambani-promoted Reliance Industries Ltd (RIL) to explore the possibility of sharing the latter’s infrastructure on the East Coast, Oil and Natural Gas Corp (ONGC) has taken RIL to the Delhi High Court. The state-run company has accused RIL of pilfering gas from its blocks sitting next to the Ambani firm’s KG-D6 gas block.
Budget carrier SpiceJet today announced another sale offer, sixth in a row since January, with all-inclusive fares as low as Rs 1,899 from select cities including Chandigarh, Guwahati, Jaipur and Lucknow. The low-cost airlines also announces its March quarter results today.
On the back of consistent growth in its brands and retail business segment, Arvind Limited posted a 11.49 per cent growth in its standalone net profit for the fourth quarter ended March 31, 2014. The company saw its Q4 standalone net profit for the fiscal year 2013-14 rise to Rs 94.89 crore, up from Rs 85.11 for the corresponding period last fiscal 2012-13.
Zydus Wellness posted 41.83% decline in consolidated net profit at Rs 21.76 crore for the quarter ended March 31, 2014. The company had posted a net profit of Rs 37.41 crore for the quarter ended March 31, 2013, Zydus Wellness said in a filing to BSE.
Gujarat-based companies will also be in focus especially Adani Group shares which have seen a sharp rise recently will also gain if BJP-led NDA wins a majority.