The Indian market is set for a positive start on Wednesday, despite getting negative cues from its Asian peers on slowing global growth with crude oil prices sinking on worries about weakening world demand and oversupply.
At 07.05 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 0.33 percent to 10,640, indicating a positive opening for the Indian market.
Here are the top stocks to watch out for in today's trade:
Ashok Leyland: Ashok Leyland on Tuesday said its managing director and chief executive officer Vinod K Dasari has resigned from the position after nearly 14 years with the company. The company reported a lower-than-expected 37.5 percent rise in second-quarter profit on Tuesday due to higher raw material costs.
Tata Steel: The company reported a more than three-fold rise in second quarter net profit on Tuesday, handily beating market estimates, helped by strong sales in India.
Apollo Tyres: Apollo Tyres on Tuesday said its promoters OS Kanwar and Neeraj Kanwar, who are chairman and vice-chairman respectively, have agreed to take 30 percent cut in their compensations for 2018-19 after a proposal from its nominations and remuneration committee (NRC).
Fortis Healthcare: The Fortis board on Tuesday approved the allotment of equity shares through a preferential issue to IHH Healthcare Berhad and the Malaysia based hospital chain became the controlling shareholder in Fortis Healthcare with 31.1 percent stake.
Sun Pharma: The company posted a surprise quarterly loss on Tuesday, hurt by a one-time charge due to a legal settlement. Net loss came in at Rs 219 crores ($30.15 million) for the quarter ended September 30, compared with a profit of Rs 912 crores rupees a year earlier.
Hindalco: Hindalco Industries, the metals flagship of the Aditya Birla Group, plans to invest about Rs 6,000 crore to set up downstream facilities over the next four years, a top company official said here on Tuesday.
Dalmia Cement (Bharat) Ltd: The company said it will invest Rs 2,500 crore to set up new cement manufacturing plants in Odisha.
Glenmark Pharma: The company on Tuesday reported a 93.3 percent jump in consolidated net profit at Rs 414 crore for the quarter ending September boosted by sale of its orthopaedic and pain management business in India.
Zee Entertainment: The company on Tuesday said its promoters led by Subhash Chandra plan to sell up to 50 percent of their equity stake in the company to a strategic partner.
Results on Wednesday: M&M, Grasim, Motherson Sumi, Vodafone IDEA, UBL, Page Industries, NHPC, IDBI bank, Apollo Hospital, MRPL, NBCC, Max financial, GMR Infrastructure, Reliance Infra, CESC Ltd, Infibeam Avenues, PC Jewellers, SpiceJet, etc.
(With inputs from agencies)
First Published: IST