The Indian market is expected to open positive on Wednesday on strong global cues, a day after the benchmark indexes closed at record highs. The Sensex closed up 106.50 points at 36825.10, while the Nifty was up 49.50 points at 11134.30 on Tuesday.
Check out the companies that are making headlines before the opening bell:
June corporate earnings: L&T, Ambuja Cements, Hero Moto, JSW Steel, BHEL, Bharti Infratel, Canara Bank, etc., will announce their first quarter results.
ICICI Bank: Sandeep Batra of ICICI Prudential Life joined ICICI Bank as President-Corporate Centre. He will directly report to Sandeep Bakshi, COO of ICICI Bank. In a separate development, the bank will acquire Arthashastra Fintech for Rs 8.3 crore.
Symphony: Q1 profit fell 49 percent to Rs 20 crore versus Rs 39 crore; revenue slipped 23.2 percent to Rs 146 crore versus Rs 190 crore (YoY).
Lakshmi Vilas Bank: Brickwork Ratings India revised the rating from A- to BBB+ for unsecured redeemable non-convertible subordinated lower Tier II bonds - Series VII (Option B) of Rs 50.50 crore, Moneycontrol reported.
Jindal Steel & Power: CNBC-TV18 reported that the company was likely to get 20 percent of the 4.87 lakh tonne bid, being the lone bidder for global rail tender floated by Indian railways.
Oil India: The company has signed a joint venture agreement at Guwahati in connection with formation of a JV company for construction of north-east gas grid pipeline in the eight north-eastern states, viz. Assam, Arunachal Pradesh, Meghalaya, Manipur, Mizoram, Nagaland, Tripura and Sikkim. The proposed JV company will have equal equity contribution from all the five PSU JV partners.
Bharat Electronics: The government will divest 5 percent in the company out of its 66.79 percent shareholding.
Andhra Bank: The bank has received capital infusion of Rs 2,019 crore towards contribution of the central government in the preferential allotment of equity shares.
NTPC: CNBC-TV18 reported that the government is looking to sell its stake in NHPC to the company. The government currently holds around 73 percent stake in NHPC.
Asian Paints: Q1 consolidated profit rose 30 percent to Rs 571.3 crore versus Rs 440.7 crore; revenue jumped 15.1 percent to Rs 4,390 crore versus Rs 3,815.3 crore (YoY).
ICICI Prudential Life Insurance: Q1 profit fell 30.5 percent to Rs 282 crore versus Rs 406 crore; net premium income increased 12.8 percent to Rs 5,438 crore versus Rs 4,820 crore (YoY).
Hexaware: Q2 consolidated profit rose 14 percent to Rs 154 crore versus Rs 134.3 crore; revenue increased 8.4 percent to Rs 1,136.7 crore versus Rs 1,049 crore (QoQ).
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First Published: IST