The domestic stock markets are likely to have a gap-up opening due to favourable global cues. Trends on SGX Nifty indicate a gap-up opening for the index in India, with a 107-points gain. At 7:30 am, the Nifty futures were trading at 14,975 on the Singapore Stock Exchange.
On Friday, the BSE Sensex climbed 256.71 points to 49,206.47 and the Nifty was up 98.40 points at 14,823.20.
Stocks to watch in trade in today’s session
Hero MotoCorp, India’s largest motorbike maker, extended a shutdown at its manufacturing facilities across the country till May 16. Hero MotoCorp had suspended its manufacturing operations in April.
Maruti Suzuki has extended the shutdown at its plant till May 16, 2021 due to the current pandemic situation.
UltraTech Cement reported a 45.2 per cent YoY decline in consolidated net profit to Rs 1,774.13 crore for the fourth quarter ended March 2021 on account of reversal of deferred tax liabilities.
IDFC First Bank
IDFC First Bank reported a 78 per cent YoY jump in net profit at Rs 128 crore for the fourth quarter ended March 2021 as against a profit of Rs 72 crore during the corresponding quarter a year ago.
Bandhan Bank reported an 80 per cent YoY dip in its March quarter net profit at Rs 103 crore, as it wrote off a huge portfolio of loans in the flagship microlending business by recognising stress upfront.