Stocks to watch: Hero MotoCorp, IDBI Bank, Tata Steel, Coforge, Icra

Nifty futures on the Singapore Exchange traded 45 points higher at 14,738 around 8:15 am, indicating a firm start for the Indian markets on Thursday.

Here are the top stocks that are likely to sway the markets today:

Results today: A total of 25 firms are slated to post their March quarter numbers today, including Hero MotoCorp, Tata Consumer, Adani Power, Blue Star, Hikal, Icra and Raymond.

HeroMoto Corp, slated to report its March quarter results (Q4FY21) on May 6, is expected to post nearly 60 per cent year-on-year growth in earnings before interest, tax, depreciation, and amortization (Ebitda) aided by healthy sales volume and low base effect. However, price hikes taken due to BS-VI transition and to off-set increase in input costs may not be enough to cushion Ebitda margin hit, say analysts. READ MORE

Tata Steel reported a higher-than-expected consolidated net profit at Rs 6,644 crore in the March quarter (Q4) of FY21, against a net loss of Rs 1,481 crore in the corresponding period last year. The company’s performance was best-ever across metrics such as revenue, Ebitda and net profit (excluding exceptional items).

IDBI Bank: The Cabinet Committee on Economic Affairs has given its in-principle approval for strategic disinvestment along with transfer of management control in IDBI Bank Ltd, government said on Wednesday.

Adani Enterprises on Wednesday reported 282.2 per cent rise in consolidated net profit at Rs 233.95 crore for the quarter ended March 31, 2021. The consolidated income of the company during the quarter was at Rs 13,688.95 crore.

Tata Motors: The Competition Commission of India (CCI) has ordered a detailed probe against Tata Motors for alleged abuse of its dominant position with respect to dealership agreements.

Maruti Suzuki India, on Wednesday, said its total production in April 2021 stood at 159,955 units, down 7 per cent from March this year.

Maharashtra Seamless: ONGC has issued the letter of award to Jindal Drilling & Industries for deployment of Jack-up drilling rig 'Jindal Explorer' owned by Maharashtra Seamless on charter hire contract for a period of 3 years.

Praj Industries: HDFC Mutual Fund sold 434,583 equity shares (0.24 per cent) in Praj Industries via open market transaction on May 3, reducing shareholding to 6.51 per cent.

Adani Green Energy reported consolidated profit of Rs 104 crore for Q4FY21 against Rs 56 crore reported in Q4FY20.

Wipro partnered with Transcell Oncologics to transform vaccine safety assessment using augmented intelligence.

Cipla: Roche India, on May 5, said it received Emergency Use Authorisation (EUA) from the Central Drugs Standards Control Organisation (CDSCO) for the antibody cocktail Casirivimab and Imdevimab in India. Cipla will market and distribute the product in India.

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