Indian benchmark indices are set for a positive start on Tuesday as investors cheer India’s March trade data. Exports grew significantly by 11 percent to $32.55 billion in March on account of higher growth in various sectors. India’s trade deficit narrowed to $10.89 billion as compared to $13.51 billion in the corresponding period last year.
Shares ended higher on Monday, in line with global markets. The BSE Sensex ended at 38,906, up 139 points, while the broader NSE Nifty50 settled at 11,690, adding 47 points. The investors cheered when IMD forecasted a near-normal monsoon rains for India this year, easing concerns over farm output and economic growth.
Asian shares traded little changed after disappointing bank earnings in US dented Wall Street, though recent positive signs for the global economy likely to limit the losses. Here are the top stocks to watch out for in today’s trade:
Jet Airways: Even as the much-needed funding remains elusive for Jet Airways, merchant banker SBI Caps has started the process for sale of the financially troubled carrier for lenders.
Lakshmi Vilas Bank, Indiabulls Housing Finance: Lakshmi Vilas Bank (LVB) on Monday said it plans to allot nearly 5 percent equity shares on a preferential basis to Indiabulls Housing Finance Ltd.
Earnings today: Wipro, 5paisa Capital, Den Network, Mastek Ltd.
Cipla: Drug major Cipla on Monday said it has inked a pact with Pulmatrix Inc to co-develop a formulation for the treatment of allergic bronchopulmonary aspergillosis (ABPA) in patients with asthma.
Tata Metaliks Ltd: The pig iron manufacturer and supplier on Monday said its net profit rose by 17.74 percent to Rs 64.35 crore during the quarter ended March 31, 2019.
Infosys: Infosys will roll out an incentive scheme this year for employees equipped with digital skills and will aggressively re-deploy staff on projects offering opportunities to work on new technologies as it looks to stem rising attrition in the face of stricter visa rules, a top executive told PTI.
Sadbhav Infrastructure: The company on Monday said the toll collection by its special purpose vehicles (SPVs) has increased by 7.3 percent to Rs 281.09 crore in the fourth quarter of 2018-19.
Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL): The company on Monday said it has started commercial production of nitric acid at Dahej facility in Gujarat, which has been set up with an investment of about Rs 550 crore.
TCS: Zions Bancorporation unifies lending operations with TCS BaNCS.
Syndicate Bank: The bank cut its MCLR rate by 5 bps across all tenures.