scorecardSensex, Nifty50 likely to open on a positive note amid volatility: Adani Enterprises, L&T, Eicher Motors among stocks in focus
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Sensex, Nifty50 likely to open on a positive note amid volatility: Adani Enterprises, L&T, Eicher Motors among stocks in focus

Sensex, Nifty50 likely to open on a positive note amid volatility: Adani Enterprises, L&T, Eicher Motors among stocks in focus
Stock Market2 min read
  • India’s equity markets are likely to open on a positive note on Thursday amid heightened volatility.
  • SGX Nifty, an early indicator of how the markets may perform, was up 0.24% or 44 points early in the morning today.
  • Adani Enterprises, L&T, Eicher Motors are amongst stocks in focus today.
India’s equity markets are likely to open on a positive note on Thursday amid heightened volatility. SGX Nifty, an early indicator of how the markets may perform, was up 0.24% or 44 points early in the morning today.

Earlier on Wednesday, Sensex and Nifty capped off a volatile day of trading with gains of 0.3%. While Sensex closed at 61,940 points, Nifty50 closed at 18,315 points.

Gold prices fell to ₹61,255 per 10 grams while silver stood at ₹76,690 per kilogram. Crude oil prices gained as well, with Brent crude prices hovering at $77per barrel.

Global markets mixed

Markets in the US closed on a mixed note on Wednesday, with Dow Jones falling 0.09% while S&P 500 gained 0.45%. On the other hand, the tech-heavy Nasdaq rallied 1.04%.

Asian markets were also mixed, with Nikkei 225 and Shanghai Composite trading on a flat note on Thursday morning. Hang Seng, on the other hand, was trading down at 0.15%, while Taiwan Weighted was down 0.4%. KOSPI was trading 0.43% in the green.

Stocks to watch

Earnings today: Eicher Motors, Asian Paints, Deepak Nitrite, Aditya Birla Capital, Balrampur Chini Mills, Ujjivan Small Finance Bank, Gujarat State Petronet, Dr Lal Pathlabs, Care Ratings, Siemens, Religare Enterprises among companies to report their quarterly earnings today.

Adani Group: The flagship company Adani Enterprises on Wednesday announced that it will hold a board meeting on May 13 to consider fund raise via issuance of equity. Adani Green Energy will consider fundraising as well on the same day.

L&T: The construction and engineering behemoth reported a 10% jump in net profit at ₹3,987 crore in March quarter, which missed analysts estimates of ₹4,339 crore. Revenues for the quarter rose over 10% on year to ₹58,335 crore, which is also below estimates of ₹59,256 crore.

Dr Reddy’s Laboratories: The pharma major reported a ten fold increase in net profit on year at ₹959 crore for March quarter while revenue jumped 16% to ₹6,296 crore during the same time.

Godrej Consumer Products: The company has reported a 24% rise in net profit at ₹452 crore from ₹363 crore last year while revenue rose 9.8% on year to ₹3,200 crore. It has also planned to raise ₹5,000 crore through the issuance of non-convertible debentures.

SEE ALSO:

L&T Q4 net profit rises 10% to ₹3,987 crore, cautiously optimistic about FY24

Mankind Pharma enters top 100 companies by market cap after a stellar listing

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