The Indian market is likely to open higher today as SGX Nifty rose 37 points to 16,151. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market. On Tuesday, Sensex declined 236 points or 0.43 per cent to end at 54,052.61.
During the day, the 30 stock index hit a low of 53,886.28 and a high of 54,524.37. Nifty fell 89.55 points or 0.55 per cent to close at 16,125.15. Tech Mahindra, Hindustan Unilever, HCL Technologies, Asian Paints, NTPC, Tata Steel, Infosys, Axis Bank and Bajaj Finserv were the top Sensex losers, falling up to 3.92 percent.
Dr Reddy's, HDFC, PowerGrid, Kotak Mahindra Bank, HDFC Bank and Nestle were the top Sensex gainers, rising up to 1.80 percent.
Here are the stocks that are likely to remain in news today.
Sugar stocks: The government has imposed restrictions on sugar exports from June 1 to maintain domestic availability and price stability. In a notification by the Directorate General of Foreign Trade (DGFT) it states that the restriction has been imposed "in order to maintain domestic availability and price stability of sugar".
Balrampur Chini: The sugar manufacturer reported a 16.2 per cent growth in Q4FY22 net profit at Rs 359.34 crore against Rs 309.27 crore profit in Q4FY21. Total income rose 24.9 per cent to Rs 1,291.37 crore from Rs 1,033.78 crore.
Adani Ports: Q4 net profit fell 21.8 per cent to Rs 1,033.02 crore in Q4 against Rs 1,320.69 crore in the corresponding quarter a year ago. Total income rose 8.5 per cent to Rs 4,417.87 crore from Rs 4,072.42 crore.
Latent View Analytics: The company reported a 49.6 per cent rise in Q4 net profit at Rs 35.57 crore against Rs 23.78 crore in the year ago period. Total income climbed 49.3 per cent on YoY basis to Rs 125.36 crore.
Strides Pharma: The company's EBITDA fell 71.2 per cent to Rs 46.10 crore in the last quarter against Rs 160.20 crore in Q4FY21. Total income declined 4.6 per cent at Rs 869.90 crore from Rs 911.50 crore.
Grasim: The Aditya Birla group company is planning to invest Rs 10,000 crore in the paints business in the next three years.
Bank of India: The lender reported a 142% rise in net profit at Rs 606 crore in Q4 against net profit of Rs 250 crore in the year-ago period.
Muthoot Finance: The NBFC plans to raise up to Rs 300 crore through bonds and the funds will be utilised for lending activities. The issue will open on May 25 and close on June 17.
Indian Hotels Company: The Tata group hospitality firm said its board has approved the re-appointment of Puneet Chhatwal as Managing Director and CEO for another term of five years.
Dr Reddy's Laboratories: The pharma firm said it along with Senores Pharmaceuticals, Inc has launched Ketorolac Tromethamine tablets, used for managing severe pain, in the US market. The product is a therapeutic generic equivalent of the reference listed drug Toradol tablets.
Future Retail: The firm said that it won't be able to release its March quarter earnings on May 30 due to board structure imbalance amid multiple resignations by its top level managements. The company said it is taking necessary actions to the fill the vacancies caused by such cessation/resignation. It will announce the captioned results as early as possible after composition of the Board of Directors and the Audit Committee is complied with the provisions of the Act and the Listing Regulations and statutorily capable to approve it.
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