Indian markets are expected to open lower in trade on Thursday. On Wednesday, the last one hour of trade saw a sharp fall in stocks. The SGX Nifty was pointing to a cut of around 37 points. The Dow Jones on the other and ended with marginal losses, recovering almost 500 points from the day's low.
Here are stocks to watch in trade today:
1) HCL Technologies
The company reported a drop in net profits by almost 13 percent to Rs 2,220 crore versus Rs 2,568 crore. The company has maintained FY 2019-20 constant currency revenue growth guidance at 14-16 percent.
There may not be pressure on the stock, given the constant currency guidance of the company which is good.
HCL Technologies had declared its numbers after market hours on Wednesday.
2) Tata Steel
Tata Steel shares may react negatively in trade today, given the sharp fall in net profits.
The consolidated net profit at the steel major for the June quarter fell 64.5 per cent to Rs 683.13 crore from 1,922.85 crore a year ago, due to higher expenses.
The oil refining major also aw its net profits fall to Rs 810 crores, from a huge Rs 3,000 crores. The stock was under pressure on Wednesday and it may see some downward momentum on Thursday as well.
4) Aurobindo Pharma
The company has seen a near 40 per cent jump in net profits. This might also bring some cheer to the other pharma stocks, which have been seen their margins erode from the US business.
5) Godrej Properties
The company is set to declare results today. Numbers might be tepid, given the conditions in the real estate business. Watch for volatility in the stock ahead of results.
6) Stocks where results are to be announced today
Among the results that are to be announced today include capital good major Thermax, real estate major Godrej Properties, , Kirloskar Industries, Revathi Equipment, Texmaco Rail, Igarashi Motors India, Kesoram Industries, City Union Bank, Clariant Chemicals, Hotel Rugby, Dynamatic Technologies, Nava Bharat Ventures, Kopran, Mukand, Religare Enterprises etc.