Stocks to watch: HPCL, HDFC AMC, HCL Tech, banks, Navin Fluorine, NMDC, IGL

At 08:40 am, Nifty futures on the Singapore Exchange (SGX) were trading 42.55 points or 0.43 per cent lower at 9,842.50, indicating a subdued start for the Indian market on Wednesday. 

Here's a look at the top stocks that may remain in focus today - 

HPCL: Hindustan Petroleum Corporation (HPCL) posted a consolidated loss before tax of Rs 2,653 crore for the fourth quarter of financial year 2019-20 compared to Rs 5,067 crore profit (before tax) during the same period in the previous year. This is because of inventory losses and exchange rate fluctuations.

HDFC AMC: Standard Life Investments, one of the promoters in HDFC Asset Management Company (AMC), is looking to offload upto 2.82 per cent stake in the company through offer for sale (OFS), which will be open on Wednesday and Thursday.

Schneider Electric Infrastructure: The company on Tuesday reported a Rs 25.74 crore net loss for the March quarter.

Banks: Banking stocks may remain in focus as the Supreme Court is scheduled to hear the interest waiver case today. Total income dipped to Rs 231.50 crore in the quarter under review from Rs 303.85 crore a year ago.

HCL Tech: Information technology services provider HCL Technologies announced the commencement of its operations in Sri Lanka. The Noida-headquartered firm aims to create over 1,500 new local employment opportunities for both freshers and experienced professionals, within the first 18 months of kick-starting its operations from its office in the national capital Colombo.

Navin Fluorine: Net profit of the company rose 675.13 per cent to Rs 272.69 crore in the quarter ended March 2020 as against Rs 35.18 crore in the year-ago period. Sales rose 9.50 per cent to Rs 276.57 crore. 

NMDC: Mining major NMDC's profit before tax (PBT) dropped by 33 per cent to Rs 1,482 crore during the fourth quarter ended March 31, 2020, from Rs 2,197 crore, a year ago. Profit after tax (PAT) dropped by 76 per cent to Rs 351 crore from Rs 1,454 crore, compared to the same period last year.

Wipro: Wipro Gallagher Solutions announced a partnership with DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services for the mortgage industry.

Earnings today: A total of 46 companies including Pidilite Industries, Indrapastha Gas, Cummins India are scheduled to announce their March quarter earnings.

Aviation related stocks are likely to be in focus today after jet fuel or aviation turbine fuel price was hiked by 16.3 per cent yesterday on the back of firming international oil rates.

Godfrey Phillips: The company said its pan masala manufacturing plant at Ghaziabad in Uttar Pradesh has resumed production. However, its cigarette manufacturing plant at Navi Mumbai in Maharashtra remains closed.

HDFC, the country's largest mortgage lender, plans to raise funds and the proposal regarding this will be discussed by its board on June 19.

Wockhardt: As per reports, the company said it was manufacturing dexamethasone for last 20-30 years and will ramp up capacity. Low doses of the steroid dexamethasone can reduce deaths by one-third in ventilated Covid-19 patients, according to researchers who assessed the performance of the inexpensive drug in more than 2,100 patients.