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Markets are likely to open flat with a positive bias tracking mixed global cues.
Asian shares edged higher on Tuesday tracking rallies in the United States and Europe as investors seemed to put aside geopolitical concerns, at least for the moment.
MSCI's broadest index of Asia-Pacific shares outside Japan . Japan's Topix rose 0.4 percent, while the Nikkei firmed 0.3 percent and SGX Nifty is quoting at 7,687 up by 45.50 points.
None of this seemed to faze Wall Street, where the Dow rose 0.10 percent, while the S&P 500 gained 0.28 percent and the Nasdaq 0.70 percent.
Stocks to watch:
State-owned Hindustan Petroleum Corp (HPCL) reported a net profit of Rs 46 crore in the June quarter as compared to a net loss of Rs 1,460 crore in the same period last year, after it got compensated for almost all of the loss on fuel sales.
Jaguar Land Rover (JLR) helped city-based Tata Motors, India’s biggest automobile manufacturer, reported a 213 per cent jump in consolidated net profit for the quarter ended June at Rs 5,398 crore, against Rs 1,726 crore in the corresponding quarter last year.
GAIL India Ltd, the state-owned gas transmission utility, posted a 23 per cent decline in net profit for the quarter ended June on costly liquefied natural Gas (LNG) imports. The company recorded a net profit of Rs 621 crore during the quarter as against Rs 808 crore in the year-ago period. It’s underrecoveries on inventory of LNG stood at Rs 190 crore, as key customers switched to other low-cost suppliers like Shell and GSPC.
Drug maker Divi’s Laboratories reported a standalone net profit of Rs 167.93 crore for the first quarter ended June 30, 2014.The company had posted a net profit of Rs 174.71 crore during the same period in the previous fiscal.
Chemicals and pharma manufacturer Aarti Industries reported 83.89% rise in its net profit at Rs 41.43 crore on a standalone basis for the quarter ended June 30, 2014.
Eicher Motors posted 70.53 per cent rise in consolidated net profit at Rs 157.44 crore for the second quarter ended June 30. The company had posted a net profit of Rs 92.32 crore for the same period of previous fiscal.
