The BSE Sensex and NSE Nifty opened strong on Wednesday following their global counterparts. At 9.20 am, Sensex was trading 270.27 points up at 25,575.74, while NSE Nifty was trading 97.15 points up at 7,846.00.
Below are the 10 stocks that are in focus today
Bharti Airtel: Bharti Airtel on Tuesday said it has completed the Rs 4,428 crore deal with Videocon Telecommunications Ltd (VTL) to acquire the latter’s spectrum in six circles. Stocks of the company were trading 0.97 per cent up at Rs 348.60 (9.31 am)
Bank of India: Stocks of the public sector lender were trading 1.99 per cent down at Rs 78.75 (9.28 am) after it reported deeper losses at Rs 3,587 crore in the quarter to March as provisions for bad loans more than doubled to Rs 5,470 crore.
Tech Mahindra: Stocks of the IT services firm were trading 5.78 per cent up at Rs 506.95 (9.20 am) after its consolidated net profit almost doubled to Rs 897.08 crore for the quarter ended March 31, 2016. The Mumbai-based company had posted a net profit of Rs 472 crore in the corresponding quarter last fiscal. The company also became the third entity to drop out of the payments bank race, saying business profitability would take longer time due to ‘aggressive posturing’ by many deep-pocketed players.
VRL Logistics: VRL Logistics’ promoters on Tuesday said the proposed regional airline venture would be a “personal investment” of Rs 1,400 crore and would not impact the firm’s balance sheet. The share price of the company plunged nearly 20 per cent on Tuesday. Stocks of the company were trading 16.33 per cent down at Rs 264.60 (9.32 am).
Zee Media: Zee Media Corporation Ltd on Tuesday posted a consolidated net profit of Rs 18.26 crore for the fourth quarter ended March 31, 2016 on account of reduction in operating expenditure. The company had reported a net loss of Rs 7.17 crore in the same quarter, last fiscal.
Parsvnath Developers: Realty firm Parsvnath Developers reported a profit of Rs 5.93 crore for the quarter ended March, 2016, as against a loss of Rs 140.9 crore in the year-ago period.
Omaxe: Real estate comany Omaxe reported 21 per cent increase in consolidated net profit to Rs 24.35 crore for the quarter ended March 31 on higher sales. Its net profit stood at Rs 20.24 crore in the year-ago period.
Cipla: Pharma major Cipla reported a consolidated net profit of Rs 80.87 crore for the fourth quarter ended March 31, 2016. The company had posted a net profit after minority interest and share of profit/loss of the associates of Rs 259.66 crore for the corresponding period of the previous fiscal.
Colgate-Palmolive: FMCG major Colgate-Palmolive India posted a 10.84 per cent decline in its standalone net profit at Rs 145.89 crore for the fourth quarter ended March 31, 2016. The company had reported a net profit of Rs 163.63 crore during the January-March quarter of the previous fiscal.
Jubilant Life Sciences: Drug firm Jubilant Life Sciences reported a 65.41 per cent rise in its consolidated net profit to Rs 70.68 crore for the quarter ended March 31, 2016. The company had posted a net profit of Rs 42.73 crore for the corresponding period of the previous fiscal, Jubilant Life Sciences said in a BSE filing.