 "Stock market: A roller coaster ride for Indian equities")
Markets are likely to witness a positive start mirroring strength in the Asian peers. Meanwhile, caution is seen as investors patiently wait for the GDP data for the March quarter and fiscal deficit data for the month of March later today.
India's GDP growth for the fourth quarter of 2015-16 is likely to be around 7.1 per cent, but slow private sector capital expenditure (capex) spending and stressed banking sector will weigh on the economy's growth potential this year, says a DBS report.
GLOBAL MARKET
Japan’s benchmark index rising 0.5% on the back of falling yen post comments from US Federal Reserve Chairwoman Janet Yellen.
Elsewhere, the Hang Seng gained nearly 1% while the Shanghai Composite Index and Singapore’s Straits Times indices climbed 2% and 1% each.
CORPORATE NEWS
Tata Motors reported stellar numbers for the March quarter, with 19% year-on-year consolidated revenue growth at Rs 80,684 crore. Strong sales growth of Jaguar Land Rover (JLR) across geographies and robust commercial vehicle in the domestic market drove the growth.
Reliance Communications (Rcom) reported a 22.36% drop in consolidated net profit to Rs 177 crore for the quarter ended March 31 on account of rise in expenses.
Sun Pharma reported a consolidated net profit of Rs 1,713.69 crore for the fourth quarter ended March 31, 2016.
Suzlon Energy consolidated net loss narrowed down to Rs 270.55 crore for the quarter ended March 31, on higher sales and lower expenses.
SAIL reported a standalone net loss of Rs 1,230.93 crore for the quarter ended March 30, 2016 hit by challenging market conditions and decline is sales realisation.
Dhanlaxmi Bank’s net loss decreased to Rs 131.6 crore in the last quarter of 2015-16 ended March 31, 2016 against that of Rs 266.61 crore in the same period a year ago.
L&T Infotech, a subsidiary of engineering giant Larsen & Toubro, has withdrawn offer letters to around 1,500 students in south India.
State-owned NTPC registered an annual profit of Rs 10,243 crore during 2015-16, showing a mild decline from the previous year’s figure of Rs 10,291 crore.
State-run Mahanagar Telephone Nigam Limited (MTNL) posted a net profit of Rs 174.58 crore for the January-March quarter on account of refunds for surrendering Code division multiple access (CDMA) spectrum on Monday.
Utility vehicle and tractor manufacturer Mahindra & Mahindra recorded a net profit growth of 6% during the March quarter but fell short of street estimates.
Wipro, India's third largest software exporter, said it would raise salaries by an average 9.5% for its Indian employees effective June, bettering Infosys and falling a bit short of Tata Consultancy Services.
Berger Paints on Monday posted an increase of 59.7% at Rs 92.8 crore in its consolidated net profit for the quarter ended March 31, 2016. Its net profit during the corresponding quarter of the 2014-15 fiscal year stood at Rs. 58.1 crore.
Sundaram Finance reported a 34% growth in net profit during the quarter ended March 31, 2016, at Rs 122 crore as against Rs 91 crore, a year ago.
Neyveli Lignite Corporation Ltd., a Navratna Public Sector Enterprise, will set up a 20 mega watt (MW) solar project in Andaman and Nicobar Islands.
