 "Stock market: A roller coaster ride for Indian equities")
Markets are likely to open the session on a lower note mirroring decline in the Asian stocks as participants turn cautious ahead of the two-day FOMC meet due to begin later today. Meanwhile, key corporate earnings due to be slated by Maruti Suzuki and Axis Bank among others will be patiently awaited.
Going ahead, investors will keep a track of the second part of the Budget session which started yesterday. The main focus will be on the developments pertaining to the GST Bill, along with the Bankruptcy Bill, and amendments to the Factories Act.
GLOBAL MARKET
Asian equities are declining as investors remain cautious ahead of the central bank policy meetings in the United States and Japan later during the week. The two-day US Fed policy meet will kickstart later in the day. Also, further slip in the crude oil prices dented sentiments. Japan’s Nikkei, Singapore’s Straits Times, Hong Kong’s Hang Seng and China’s Shanghai Composite have lost between 0.1%-1.3%.
Oil prices slipped after rallying to five-month highs last week, as data indicated to fresh US crude builds.
STOCKS IN FOCUS
Shares of cigarette makers such as ITC, Godfrey Philips and VST Industries may witness pressure on reports stating that the government is working on a proposal to completely ban foreign direct investment (FDI) in the tobacco sector.
Some of the notable companies including Maruti Suzuki, IDFC Bank, Axis Bank, Syngene International, Biocon, Rallis India and Raymond, among others are slated to unveil the numbers today.
Eicher trucks & buses has plans of foraying into the mini truck segment to compete with Tata Ace, warhorse of the segment.
Shares of steel companies including Tata Steel, SAIL and JSW Steel are likely to remain in focus after the steel imports increased 25.6% to 11.71 million tonnes (mt) in the 2015-16, compared to 9.32 mt in 2014-15.
Hero MotoCorp is likely to gain limelight as the company is setting up a factory in Andhra Pradesh and plans to invest Rs 3,000 crore, for annual capacity of 1.8 million units.
India's largest pharmaceutical company Sun Pharmaceuticals on Monday entered into a public private partnership (PPP) with the Union and Madhya Pradesh governments for a campaign to ensure a malaria-free India.
UltraTech Cement, India’s largest in the segment, has reported an increase of 10% in its consolidated net profit for the quarter ended March. Its profits stood at Rs 723 crore, compared with Rs 657 crore in the corresponding period last year.
Bharti Airtel on Monday wrote to the Telecom Regulatory Authority of India (Trai) for permission to offer exclusive video content over its Closed Electronic Communication Network (CECN).
ABB India is likely to gain after the company reported a 31.5% jump in first quarter profits to Rs 71 crore and 10.3% increase in revenue to Rs 2000 crore after securing orders from customers who wanted to upgrade existing equipment in energy and urbanisation projects.
