The Indian market is likely to open lower amid weak global cues and prospect of another coronavirus lockdown in Maharashtra. SGX Nifty fell 200 points today indicating weak openeing for Indian benchmark indices.
On April 9, benchmark indices snapped three-day gaining streak amid weak Asian cues and a record surge in Covid -19 cases (1.31 lakh) in 24 hours. Sensex ended 154.89 points or 0.31 per cent lower at 49,59 and Nifty slipped 38.95 points or 0.26 per cent to 14,834. Here's a look at stocks likely to be in focus in trade today.
TCS: Information technology firm Tata Consultancy Services (TCS) will kick-off the earnings season, with March quarter earnings for Monday. Its share ended 0.23% higher at Rs 3,325 on April 9.
Infosys: IT major Infosys wil report its earnings for the quarter ended March 2021 on April 14. Its board will also decide on share buyback in the board meeting. Infosys share ended 0.80% higher at Rs 1,441 on April 9.
Balrampur Chini Mills: Sugar manufacturer Balrampur Chini Mills said its board has cleared an investment of Rs 425 crore for a new distillery plant of 320 kilolitres per day (KLPD), which is expected to commence by December 2022.
Pharma stocks: Pharma stcoks will be in focus today after the government ordered prohibition on the export of Remdesivir drug and injection "till the COVID-19 situation in the country improves." Seven Indian firms, including Hetero Drugs, Zydus Cadila, Cipla and Dr Reddy's Laboratories, produce injectible Remdesivir under a licensing pact with Gilead Sciences.
Barbeque Nation Hospitality: UTI Mutual Fund bought 1.7752% equity stake in restaurant chain operator Barbeque Nation through open market operations on April 8, taking its total shareholding in the firm to 5.0188%.
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