Stocks to watch: HUL, Bajaj Auto, RIL, Tata Communications, Titan, SIS

Nifty futures on the Singapore Exchange traded 132 points higher at 14,977 around 8.30 am, indicating a gap-up start for the benchmark indices on Thursday.

Here are the top stocks that are likely to be in focus today:

Earnings today: HUL, Bajaj Auto, Titan, Ambuja Cements, Inox Leisure, Bank of Maharashtra and Rain Industries are among 36 companies slated to post their March quarter results today.

Analysts expect HUL to post high double-digit growth in both net profit and revenues of the company on a yearly basis, supported by a lower base and improved traction in the out of home (OOH) and personal care segments. READ HERE

Bajaj Auto is expected to post a solid growth in revenue and sales volume. However, the company’s Ebitda margin could come under pressure due to higher commodity prices and lower product mix on a quarterly basis, say analysts. READ HERE

RIL: Billionaire Mukesh Ambani's Reliance Industries is reported to have held talks with Saudi Aramco on a cash and share deal for sale of a 20 per cent stake in its oil refining and petrochemical arm. 
 

AMCs: Shares of asset management companies are likely to be in focus after Sebi directed the mutual fund (MF) industry that a fifth of the salary of top executives be paid in form of units of mutual fund schemes they oversee.

Affle India: The company board has approved the opening of QIP of equity shares of face value of Rs 10 each from April 28. The floor price for the issue is Rs 5,422.94 per equity share. Further a meeting of Fund Raising Committee will be held on or after May 4 to consider and approve the issue price.

Tata Communications: The company posted a consolidated net profit of about Rs 299 crore for the fourth quarter ended March 2021 against a loss of Rs 275 crore a year ago, while a "strong operating performance" for FY21 drove the "highest profit" in last 11 years.

Indiamart InterMesh: The company acquired stake in two companies, Shipway Technology and Truckhall, for about Rs 20 crore to strengthen its technology offering in logistics management, according to a regulatory filing.

Coforge: IT solutions provider Coforge on Wednesday said it has acquired 60 per cent stake in SLK Global Solutions. Earlier this month, Coforge had proposed to acquire equity share equivalent to 60 per cent of the total issued and paid up share capital of SLK Global Solutions, of which equity shares equivalent to 35 per cent were purchased on April 12.

Axis Bank: Public sector insurer The New India Assurance Co Ltd (NIACL) has been reclassified as a 'public shareholder' of Axis Bank from being a 'promoter' earlier, the private sector lender said on Wednesday.

RattanIndia: RattanIndia Enterprises said it has acquired a substantial stake in EV two-wheeler maker Revolt Intellicorp for Rs 150 crore to foray into the fast-expanding electric vehicle business.

SIS: Security and Intelligence Services India (SIS) Group reported a net profit of Rs 102 crore for the fourth quarter of 2020-21. The company, which is also into the cash logistics business, had earned a profit of Rs 107 crore in the corresponding January-March quarter of the previous financial year.

KPIT Tech: Auto sector-focused software company KPIT on Wednesday reported a 23 per cent YoY jump in its March quarter net profit to Rs 47.04 crore, driven by a higher profit margin.

ONGC: The company intends to invite foreign companies as strategic partners to explore new areas, and develop discovered fields in India. The company is aggressively pursuing deepwater, shallow water projects on the east and west coast, despite uneconomical gas prices. It plans to acquire much larger acreage through new auction rounds.