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Here are a few stocks that are likely to be in focus today:
Gammon Infrastructure Projects is likely to see action after the Reserve Bank of India (RBI) reportedly said that foreign institutional investors (FIIs) and foreign portfolio investors (FPI) can now invest up to 49% in Gammon Infrastructure Projects.
AstraZeneca Pharma India reported a net profit of Rs 38.12 crore for the fourth quarter ended March 31, 2015 against a net loss of Rs 2.56 lakh during the same period of the previous fiscal.
Tata Chemicals reported a net loss of Rs 74.17 crore for the quarter ended March 31, 2015. It had posted a net loss of Rs 1,225.72 crore in the year-ago period.
Max India registered a net loss of Rs 8.25 crore for the fourth quarter ended March 31. The company had a standalone net profit of Rs 8.36 crore in the same period of previous fiscal.
Bhushan Steel posted a standalone net loss of Rs 360.77 crore for the fourth quarter ended March 31, 2015. The company had posted a net loss of Rs 19.57 crore in the year-ago period.
Jindal Steel and Power Ltd (JSPL) reported a consolidated net loss of Rs 519.30 crore for the quarter ended March 31, 2015 due to subdued demand and cheaper imports of the metal.
GAIL India reported a 47% decline in quarterly profit on lower offtake of natural gas by customers and compressed margins in the petrochemicals business.
Coal India, Hindalco and NMDC are likely to announce their Q4 numbers during the day.
MARKET COMMENTARY
The benchmark indices are likely to open with a positive bias this morning, tracking the favourable cues from the global front.
The markets had ended the previous session on a flat note, amid choppiness, with disappointing earnings from Tata Motors and Tech Mahindra being a major drag on the indices.
The markets may, however, be volatile during the day as traders roll over their positions from the April F&O series to the May series.
GLOBAL MARKETS
Asian shares had edged higher this morning on vague hopes of a rescue deal for Greece while the dollar was at the helm in currency markets on expectations that the US Federal Reserve will raise rates later this year. Japan's Nikkei rose 0.6%, while MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1%. The Taiwan, Kospi, Nikkei and Shanghai indices has gained about 0.5% each in early trades.
US stocks had ended sharply higher on Wednesday and the Nasdaq logged a record high close, led by a rebound in technology and healthcare stocks and optimism that Greece would avoid defaulting on its debt. The Dow Jones rose 121 points, or 0.6% to end at 18,162, S&P 500 gained 19 points, or 0.9% to 2,123 and the Nasdaq Composite added 73 points or 1.4% to 5,106.
