Indian markets are expected to open in the green on Friday as Nifty futures were trading 191.50 points or 1.32 percent higher at 14,699 on Singaporean Exchange. Currently, Sensex sits at 48,691, while the broader Nifty 50 index is at 14,699 levels. Key support levels for the Nifty are placed at 14,622.8, followed by 14,549.1. If the index moves up, the key resistance levels to watch out for are 14,797.1 and 14,897.7.
Top stock to look for the day
UPL: The company reported a higher consolidated profit at Rs 1,361 crore in Q4FY21 against Rs 784 crore in the corresponding period last year. Revenue increased to Rs 12,796 crore from Rs 11,141 crore YoY.
Apollo Tyres: The company reported higher consolidated profit at Rs 287.3 crore in Q4FY21 against Rs 77.86 crore in the same quarter last fiscal. Their revenue rose to Rs 5,025.7 crore from Rs 3,615.57 crore YoY.
Jindal Steel & Power: The company reported a consolidated profit of Rs 2,139.28 crore for Q4FY21 against Rs 305.62 crore in Q4FY20. Its revenue increased to Rs 11,880.61 crore from Rs 6,795.18 crore YoY.
Pidilite Industries: The Indian adhesives major reported a higher consolidated profit at Rs 307.44 crore in Q4FY21 against Rs 156.51 crore in Q4FY20. Its revenue jumped to Rs 2,235.52 crore from Rs 1,544.68 crore YoY.
KCP: The company’s long-term credit rating was upgraded by CRISIL to A/Stable, from A-/Stable, while short-term credit rating to A1 from A2+
Tata Power Company: The company’s net profit fell 32.6 percent to Rs 570 in Q4FY21 crore from Rs 846.5 crore in Q4FY21. While revenue rose 53 percent to Rs 10,127.4 crore from Rs 6,620 crore, YoY.
Shipping Corporation of India: The state owned corporation’s Q4FY21 net profit fell 23 percent to Rs 85.76 crore from Rs 111 crore. While income fell to Rs 900.73 from 1,391.85 crore, YoY.
Vedanta: The company reported a consolidated profit of Rs 6,432 crore for March quarter of 2020-21 as against a loss of Rs 12,521 crore in the same period a year-ago. Revenue rose to Rs 29,065 crore from Rs 20,382 crore, YoY.
Hindalco Industries: Its subsidiary Novelis’ Q4FY21 net income from continuing operations jumped to 186 percent YoY to USD 180 million. Income from net sales yielded USD 3.6 billion in Q4FY21, an increase of 33 percent.
List of companies which are going to declare their quarterly results:
Aditya Birla Capital, Dr Reddy’s Laboratories, Automotive Axles, Asian Star Company, Cipla, Escorts, Larsen & Toubro, Macrotech Developers, BCPL Railway Infrastructure, The Anup Engineering, Deccan Gold Mines, Balkrishna Industries, Bharat Seats, Cholamandalam Financial Holdings, DRC Systems India, Jindal Stainless, Gokaldas Exports, Greenpanel Industries, Hi-Klass Trading and Investment, HIL, Indigo Paints, Just Dial, Kesoram Industries, Kartik Investments Trust, Mindspace Business Parks REIT, Menon Bearings, Monte Carlo Fashions, Oberoi Realty, Onward Technologies, Octal Credit Capital, Privi Speciality Chemicals, QGO Finance, Rossari Biotech, Reliance Infrastructure, Saint-Gobain Sekurit India, Sagarsoft (India), Surbhi Industries, SKF India, Texmaco Infrastructure, Vimta Labs, and Welspun India will release their quarterly results on May 14.