MARKETS LIVE: All eyes on RBI MPC meet outcome

All eyes are set on the outcome of the Reserve Bank of India’s (RBI) bi-monthly monetary policy meeting, which is slated to be unveiled at 11:45 am today. A rate cut looks dicey but the central bank is expected to change its stance from calibrated tightening to neutral, according to experts.

STOCKS IN FOCUS

Vodafone Idea: In its second quarterly results after the merger, Vodafone Idea (VIL) posted a net loss of Rs 5,004 crore, which was higher than Street estimates. The telco lost 35 million customers during the quarter. The average revenue per user (Arpu), however, improved.

ADAG stocks: In a fresh contempt plea moved before the Supreme Court, Ericsson India has alleged that the insolvency route taken by Anil Ambani-led Reliance Communications (RCom) has “dishonest intention” intended to frustrate the orders of the court.

Lupin: The drug major reported a surprise loss of Rs 152 crore in December quarter on litigation over blood pressure drug. 

Allahabad Bank: The state-run lender posted a net loss of Rs 733 crore for the third quarter of the present financial year, against a net loss of Rs 1,264 crore in the same period of the last financial year.

IT stocks: IT services major Cognizant gave a muted revenue guidance for 2019. It posted $16.13 billion of revenue, up 8.9 per cent year-on-year (YoY) in dollar terms and 8.5 per cent in constant currency terms for the 2018 fiscal year. 

NEW KID ON THE BLOCK

Chalet Hotels is slated to list its shares on the bourses today. The company’s Rs 1,641 crore initial public offering (IPO) was subscribed 1.57 times last week.

RESULTS TODAY

Over 200 companies are scheduled to release their December quarter earnings later in the day. Some of the notable names include Britannia Industries, Abbott India, Suzlon Energy, Tata Motors, SAIL, MRF, HCC, Cadila Healthcare, Coffee Day Enterprises, Adani Enterprises and Adani Green Energy. 

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