Indian markets are likely to open flat on Tuesday due to mixed global cues. The BSE Sensex and the NSE Nifty 50 ended sharply lower on Monday due to selling pressure in auto, metal and pharma stocks. The Sensex closed 217 points lower at 36,324, while the Nifty ended below 10,950 mark.
Here are the top stocks to watch out for today: ICICI Bank: The bank has decided to postpone its AGM by a month amidst independent enquiry conducted by Justice B. N. Srikrishna on alleged cases of impropriety against the bank's CEO Chanda Kochhar. The meeting has been rescheduled to September 12 as against the earlier schedule of August 10. Hindustan Unilever: Q1 profit rises 19.2 percent at Rs 1,529 crore, while revenue jumps 11.2 percent at Rs 9,487 crore. The stock gained ahead of June quarters earnings yesterday. June quarter results: Zee Entertainment, Ashok Leyland, ICICI Lombard General Insurance, Federal Bank, CRISIL Ltd, Goa Carbon, Hindustan Media Ventures, Indian Metal & Ferro Alloys, Jindal Stainless, Muthoot Capital Services, Nucleus Software, Rallis India, Sintex Industries, TATA Sponge, 8k miles are expected to declare their results today. Auto stocks: The Ministry of Road Transport and Highways will increase loading capacity for trucks and heavy commercial vehicles. As per the new norms, the loading capacity for different categories of trucks will go up by 15-25 percent. The centre hopes this move will give a big boost to the industry and the logistics sector. TCS: The rating agency said the Tata Sons-run company's credit profile is stringer than the 'A3' rating, but the sovereign rating of BBB- constrains the rating. Sugar stocks: Shares of Indian sugar producers fell on Monday on a report that the government may increase fair and remunerative price (FRP) for sugarcane by Rs 20 to Rs 275 per quintal. FRP is the minimum price that sugar mills have to pay to farmers. Bharat Electronics: The Defence PSU has signed a MoU with Sweden's Saab for jointly marketing the L-Band 3D Air Surveillance Radar, RAWL-03, Moneycontrol reported. Metal stocks: Indian metal companies are expected to report strong earnings in June quarter, as steel firms will benefit from the recent price hikes, says Jefferies, Reuters reported. Sintex Plastics Technology: Q1 profit falls 47 percent to Rs 37.53 crore versus Rs 70.56 crore (YoY) but turned profitable compared to loss at Rs 12.49 crore in March quarter. Jay Bharat Maruti: Q1 profit rises 33 percent to Rs 13.44 crore versus Rs 10.12 crore and revenue from operations jumps 16.4 percent to Rs 505.9 crore versus Rs 434.67 crore (YoY).