 "Markets likely to open firm on global cues; Bajaj Auto, L&T, GAIL in focus")
Markets are likely to make a strong opening in trades today supported by global cues. The early indicator, SGX Nifty has surged 68 points at 7,824 levels.
Asian shares gained on Wednesday, taking cues from sharp gains in European and US financial shares while the dollar was underpinned as investors count on the US Federal Reserve to hike US interest rates in coming months.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4% while Japan's Nikkei jumped 1.7%.
US new home sales data out on Tuesday showed a jump in April to their strongest monthly pace in more than eight years, with prices setting record highs.
On Tuesday, markets closed positive as investors accumulated quality stocks at valuable and attractive levels. Strength in European equities further uplifted the mood at D- Street.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 815.53 crore yesterday, as per provisional data released by the stock exchanges.
Private forecasting agency Skymet on Tuesday raised India's monsoon forecast to 109% of the long period average from 105% on the back of a waning El Nino.
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Ashok Leyland, Bajaj Auto, GAIL (India), L&T, Tata Steel, V I P Industries, Glaxosmithkline Pharma, National Aluminium Company will announce their Q4 numbers today.
CORPORATE NEWS
Tech Mahindra on Tuesday said its consolidated net profit had almost doubled to Rs 897.08 crore for the quarter ended March 2016.
Ricoh India, a subsidiary of Japanese multinational imaging and electronics major Ricoh Co, is under the scanner of the Securities and Exchange Board of India (Sebi) for the alleged inconsistencies in financial transactions recorded in the company's book of accounts.
Leading stock exchange BSE today revised circuit limits for share movement of ABG Shipyard, Future Retail and six others as part of its surveillance action.
Drug maker Cipla's net profit fell 68.9 per cent to Rs 81 crore in Q4 FY 2016 on a year-on-year basis on account of one off expenses related to inventory reduction and closure of business in few small-size overseas markets.
Bharti Airtel has completed the Rs 4,428 crore deal with Videocon Telecommunications Ltd (VTL) to acquire the latter's spectrum in six circles.
Subex, a telecom software product company that counts leading global telecom operators as its customers, has reported a five-fold increase in profits at Rs 58.7 crore for the fiscal ending March 31 while converting Rs 447 crore out of the Rs 492 crore of outstanding FCCB debt to equity.
Axis Bank’s top management has decided to take home a reduced variable pay as the bank's performance came under pressure in the last financial year due to mounting bad loans.
Bank of India (BOI) has posted net loss of Rs 3,587 crore for the fourth quarter ended March 2016 on sharp rise in provisions for bad loans. This is third consecutive quarter for which it posted a loss in FY16.
Tata Power's generation capacity increased by close to 5% in FY16 as compared to FY15.
Monsanto Co will reject Bayer AG's $62 billion acquisition bid and seek a higher price, two people familiar with the matter said on Tuesday.
With Reuters input
