ITC, HDFC, L&T, Jet Airways and Vodafone Idea among top stocks to track

At 08:28 am, Nifty futures on the Singapore Exchange (SGX) were trading 33 points or 0.29 per cent lower at 11,250.50, indicating a negative start for the Nifty50 index back home. 

Here's a look at the top stocks that may remain in focus today - 

ITC: The board of tobacco-to-hotels major, ITC, will meet for the first time since the demise of its chairman and non-executive director, Y C Deveshwar, on Monday. The company is slated to announce March quarter results today. This apart, it is most likely that the issue of succession would come up for discussion at the meeting.

Jet Airways: The State Bank of India-led consortium of lenders to Jet Airways Friday said it has received bids from Etihad Airways and from a few unsolicited parties to acquire stake in the grounded airline. Etihad's bid for Jet will open today. 

Oberoi Realty: Oberoi Realty on Friday reported 9 per cent increase in its consolidated net profit at Rs 155.76 crore for the quarter ended March 31.Total income rose to Rs 597.30 crore in the fourth quarter of last fiscal from Rs 352.84 crore in the corresponding period preceding year.

Syndicate Bank: The lender on Friday reported a profit of Rs 128.02 crore for the March quarter of 2018-19 financial year on a modest rise in core income and slight improvement in bad loan ratio.

Cadila: CLSA has downgraded the stock to sell citing concerns over Moraiya plant. US FDA recently inspected Cadila's Moraiya facility and issued a Form 483 with 14 observations. 

Tata Steel: According to a report by The Economic Times, the steel giant may sell assets as the plan to merge with German company Thyssenkrupp’s steel unit gets cancelled. 

L&T, Mindtree: All eyes will be on L&T's open offer for Mindtree. Market regulator Sebi is yet to give its nod to the open offer that was set to commence on May 14. If it doesn't give its approval to the company, the open offer cannot start.

L&T: Engineering and construction major Larsen & Toubro (L&T) reported on Friday its net profit rose 8 per cent to Rs 3,418 crore in the March quarter (Q4) of FY2018-19 year-on-year, according to a filing with the Bombay Stock Exchange (BSE).

Earnings today: As many as 68 companies are slated to release their March quarter earnings today including names such as ITC, Vodafone Idea, HDFC, Andhra Bank, Borosil, United Bank, SRF, Muthoot Finance, Oriental Bank of Commerce and Justdial.

NBFCs: There is an "imminent crisis" in the non-banking financial companies (NBFCs) sector as misadventures by some large entities and credit squeeze present a perfect recipe for disaster, Corporate Affairs Secretary Injeti Srinivas has said.

IDFC First Bank: IDFC First Bank Friday reported a loss of Rs 218.03 crore for the quarter ended March 2019 against a profit of Rs 41.93 crore in the corresponding period of the last fiscal on account of higher provisioning.

Torrent Pharma: Drug firm Torrent Pharma Inc is recalling over 8.82 lakh bottles of Losartan Potassium tablets, used for treatment of hypertension, from the US and Puerto Rico markets on account of deviations from the current good manufacturing norms, said a PTI report. 

Eicher Motors:  Eicher Motors on Friday registered a 18.05 per cent rise in consolidated net profit after tax to Rs 544.84 crore for March 2019 quarter. Total revenue for 2018-19 was Rs 9,797.06 crore as against Rs 9,219.26 crore a year ago.

GlaxoSmithkline (GSK) Consumer Healthcare May 10 reported 34.60 per cent increase in standalone net profit at Rs 285.11 crore for the fourth quarter ended March 31, 2019. The company clocked a profit of Rs 211.81 crore in the January-March quarter a year ago, it said in a BSE filing.

Strides Pharma Science: Drug firm Strides Pharma Science May 10 reported a consolidated profit after tax of Rs 43.81 crore from operations for the March 2019 quarter. The company had posted a loss of Rs 3.39 crore in the year-ago period. 

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