According to average of estimates of analysts polled by CNBC-TV18, net profit is seen rising 0.6 percent sequentially to Rs 894 crore and revenue may increase 1.7 percent to Rs 6,262 crore in the quarter ended June.
It was a strong start to the new financial year 2015-16 on Wednesday as the market rallied more than 1 percent led by banking & financials, ahead of RBI policy (scheduled to be held on April 7). The broader markets continued to outperform benchmarks.
The market gained some strength amid consolidation in afternoon trade. The Sensex climbed 88.75 points to 28046.24 and the Nifty reclaimed 8500, up 21.90 points at 8512.90.
The market remained in a consolidation more on Wednesday ahead of expiry of derivative contracts of March series. The broader markets too were rangebound but lost ground in last hour of trade.
The market continued to be choppy ahead of expiry of March derivative contracts (on Thursday). The Sensex gained 12.16 points at 28173.88 while the Nifty fell 1.15 points to 8541.80.
The market remained rangebound with the Nifty hovering around 8540-8600 levels. Private banking & financials, FMCG and healthcare stocks supported the market whereas oil & gas, capital goods, metals and power stocks were under pressure.
Jindal Steel tanked 13 percent as sources told CNBC-TV18 that government rejected company's bids for coal blocks.
Metals, power, infra, auto and FMCG stocks saw strong buying action. Sesa Sterlite, NTPC, Hindalco, Sun Pharma and BHEL were top gainers in the Sensex. Losers include Dr Reddy's Labs, M&M, Coal India, Bajaj Auto and HUL.
Sun Pharma gained more than 2 percent and Ranbaxy jumped over 3.5 percent to hit record highs. Jet Airways and SpiceJet rallied more than 4 percent.
HDFC, Wipro and Reliance were up 2 percent followed by ONGC and Maruti. Among the losers were Bharti, Sesa, Tata Motors, L&T and Tata Steel.
With the cloud of uncertainty vanishing from over the deal, traders can look to exploit an arbitrage opportunity between Sun and Ranbaxy shares.
Shares in homegrown pharmaceuticals firm Ranbaxy Labs rose 1.8 percent in early Mumbai trading after a US federal court ruled in its favour in a landmark “pay-to-delay†case.
Sun Pharma and Ranbaxy Labs gained 3-3.5 percent after sources said Drug Controller General Of India (DCGI) reinstated European Union export licence to Ranbaxy's Toansa unit. DCGI had suspended supply from that unit to EU in May.
According to Satish Gupta of astrostocktips.in, banking stocks like Allahabad Bank, Punjab National Bank and Axis Bank and leather stocks like Relaxo Footwears, Bata India, Liberty Shoes and Mirza International will get astrological support.
GV Prasad Reddy and Satish Reddy of Dr Reddy's Labs have a big task at hand - large business restructuring process, reorientation of operations and increasing focus on global markets.
SP Tulsian of sptulsian.com advises going long on Ranbaxy Laboratories with a target of Rs 465-466 and stoploss at Rs 458.
Abhishek Karande of SBICAP Securities is bullish on Maruti Suzuki India and feels that it may test Rs 2200.
According to Ajay Jain, CEO of astromoneyguru.com, pharma, oil & gas and banking stocks may lead the market. Gati and Ranbaxy Laboratories are looking positive for short term trading, he adds.
Leather stocks like Bata India, Liberty Shoes and Mirza International will be getting astrological support, says Satish Gupta of Astrostocktips.
As per astro economics year 2014 is expected to know for year for gram, turmeric, soybean, guar seeds and mustered in agro commodity. Great upward move is expected in these commodities.
Here are 8 stocks that caused heartburn to some of the reputed investors in 2013.
According to Sudarshan Sukhani of s2analytics.com, one may stay away from pharma space.
The Indian pharma sector, estimated to be around Rs 1.5 lakh crore, recorded single digit growth for the first time in several years on account of deeper price cuts under pricing policy and selective boycott of companies by the retailers.
But the issues were not just restricted to compliance. As 2013 progressed, it unraveled a lot more dirt on corporate governance and oversight and forced the industry to do some serious soul searching.
Ashish Chaturmohta of Fortune Equity Brokers feels that Ranbaxy Laboratories and Lupin are looking good for 8-10 percent upside from current levels.