Here are the top stocks to track in today s session:
Results today: A total of 52 companies, including Berger Paints India, Bharat Petroleum Corporation, Burger King India, Cummins India, and Vardhman Holdings are scheduled to announce their quarterly results today.
Godawari Power and Ispat Ltd, on Tuesday, posted a multifold jump in consolidated net profit at Rs 304.01 crore for the March quarter 2020-21, mainly on the back of higher revenues, from Rs 34.22 in the year-ago quarter. Total income rose to Rs 1,263.67 crore in the quarter.
Thermax said its consolidated net profit jumped nearly three-fold to Rs 107.35 crore for the March quarter, mainly on the back of higher revenues. Total income rose to Rs 1,610.34 crore in the quarter from Rs 1,353.66 crore earlier.
Benchmark indices may continue to consolidate and trade range-bound on Wednesday amid lack of fresh domestic triggers. At 7:40 AM, SGX Nifty quoted around 40 points down, suggesting a flat-to-negative start on Dalal Street. This comes after US stocks closed slightly lower on Tuesday as investors continue to try and assess the route of inflation. Overall, the Dow Jones fell 0.24 per cent, the S&P 500 lost 0.21 per cent, and the Nasdaq Composite dropped 0.03 per cent. Yields on longer-dated US Treasuries, however, fell for a fourth straight day, with the benchmark 10-year yield hitting a fresh two-week low of 1.557 per cent and helping to dampen inflation worries. This may provide some comfort to the investors.
A range-bound trade ended flat on Tuesday as indecision weighed on investors minds. Tracking solid global cues, the domestic equity indices opened gap-up with the frontline S&P BSE Sensex and NSE s Nifty50 indices extending their gains to surge as high as 50,961 and 15,294 levels, respectively in the intra-day deals. However, profit-booking at higher levels and selling in financial counters put a lid on gains. That said, expectations that the government is preparing a stimulus package for sectors worst affected by the deadly coronavirus wave, aiming to support an economy struggling with a slew of localized lockdowns, supported indices. According to a Bloomberg report, the finance ministry is working on proposals to bolster the tourism, aviation and hospitality industries, along with small and medium-sized companies. The discussions are at an early stage and no timeline for an announcement has been decided.
Shares of Asian Paints and Berger Paints India hit their respective record highs on the BSE in intra-day trade on Tuesday on expectation of strong volume growth to sustain, riding the potential demand shift from unorganised segment.
Asian Paints (up 3.5 per cent to Rs 2,917.10) and Berger Paints India (up 2.5 per cent at Rs 827.30) up over 2 per cent on the BSE, surpassed their respective previous highs of Rs 2,871.40 and Rs 824.80, respectively, touched on January 11, 2021. In the past one month, these stocks have outperformed the market by surging 15 per cent each, as compared to 6 per cent gain in the S&P BSE Sensex.
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