The Indian equity market is likely to open higher today as SGX Nifty rose 32 points to 15,875. Sensex rebounded by 180 points after a see-saw trade on Monday, breaking its six-day falling streak on the back of gains in banking, financials, power and auto counters. Sensex rose 180.22 points or 0.34 per cent to end at 52,973.84. During the day, it zoomed 634.66 points or 1.20 per cent to 53,428.28. Nifty gained 60.15 points or 0.38 per cent to settle at 15,842.30, logging its first gain in seven sessions. Top Sensex gainers were NTPC, Bajaj Finance, Maruti, State Bank of India, HDFC, Kotak Mahindra Bank, M&M, IndusInd Bank, Larsen & Toubro, Titan and HDFC Bank rising up to 3.05 percent.
Here are the stocks that are likely to remain in news today.
LIC: Shares of Life Insurance Corporation (LIC) will make their market market debut today amid high volatility in the market. Shares of the insurer have been priced at the upper end of the IPO price range. They were available in a price band of Rs 902 to Rs 949 per share.
LIC shares to list today: What should investors do?
Raymond: The firm reported an over four-fold jump in its consolidated net profit to Rs 264.97 crore for the fourth quarter ended in March 2022, helped by a buoyant demand and strong consumer sentiments during the period. The company had posted a net profit of Rs 58.36 crore during the January-March quarter of the previous fiscal.
Greenply Industries: The plyboard major reported a marginal rise in consolidated net profit of 1.2 per cent to Rs 29 crore for the fourth quarter ended March 2022 over the same quarter last year amid higher revenue. The company faced a squeeze in margin owing to inflationary pressure on the cost front that restricted profit amid a 13 per cent jump in revenue to Rs 448.6 crore during the quarter under review.
GlaxoSmithKline Pharmaceuticals: The firm reported a consolidated net profit of Rs 1219.05 crore for the fourth quarter ended March 2022. The company had posted a net profit of Rs 14.33 crore for the corresponding period of the previous fiscal.
IRB Infrastructure: The infra firm's toll collection in April rose to Rs 327 crore, compared to Rs 306.66 crore in March.
KEC International: The firm said it bagged orders worth Rs 1,150 crore across its various businesses.
VIP Industries: The firm logged a profit of Rs 12 crore in Q4FY22 against a loss of Rs 4 crore in Q4FY21.
Bharti Airtel: The telecom major will report its quarterly earnings today.