Indices in India ended on a positive note on Wednesday and SGX Nifty trend which traded higher by 1.02 percent at around 6:19 am Indian time, signals a gap-up opening. US markets in overnight trade ended with gains of up to 0.6 percent on NASDAQ.
Asian markets meanwhile both Kospi and Nikkei are trading lower. Investors are awaiting the release of Chinese industrial data.
Here are some of the Indian stocks that shall gain traction in today's trade on stock-specific news:
Divestment-bound oil marketing company posted good quarterly numbers with net profit for the Q4FY21 period coming in at Rs. 11948 crore. The increase in net profit for the period under review is owing to exceptional item income of Rs. 6993 crore. In Q4Fy20, the company posted loss of Rs. 1629 crore.
Also, the company announced a final dividend of Rs. 58 per share for the FY21.
2. PSU Banks:
PSU Banks, which a day before were weighed down given the news around Mehul Choksi, fugitive offender in PNB scam case, may trade higher as there are reports that suggest Mehul Choksi has been found. As per a business daily report the offender has been captured in Dominica after an Interpol yellow notice was issued against him.
3. Burger King:
The newly listed QSR company shall be in focus after it posted its Q4FY21 results with a net loss at Rs. 26 crore. Total income at the company during the period under review was at Rs. 199 crore. For the same period last year, the company posted a net loss of Rs. 37.41 crore.
Container Corporation of India can be in news following clarity with regard to payment of land license fee to Indian Railways. The Union government plans to sell 30 percent stake in the logistics firm. The process is expected to expedite the privatization of Concor and may even support the company's stock price in the short term.
5. Karnataka Bank:
For the Q4Fy21 period, the bank posted income of Rs. 1791 crore as against Rs. 1869 in the previous December ended quarter. Total expenses at the lender have been at Rs. 791 crore. PAT figure has narrowed down from Rs. 31.36 crore in Q4 versus Rs. 135 crore in the previous quarter ended December. The lowered profit for the quarter under review is owing to increase in other adjustment.