Indian equity indices snapped a three-session rally as euphoria around exit polls that predicted Prime Minister Narendra Modi’s re-election ebbed and investors exercised caution ahead of the Lok Sabha election results on May 23.

The S&P BSE Sensex dropped 1 percent or 323 points to 38,969 at close, after rising to a record high earlier in the day. The NSE Nifty 50 Index too closed 1 percent lower, just above the 11,700-mark.

Here are the stocks to watch in trade today:

• Bharti Infratel-Indus Towers Merger: Shareholders of Bharti and Vodafone Group appoint Bimal Dayal as CEO and Hemant Ruia as CFO of the merged entity, respectively. The press release also stated that the merger process is at an advanced stage of completion.
• Vedanta declared as preferred bidder for two copper blocks with a combined area of 1585 HA area in Maharashtra.
• Edelweiss Financial Services: US based insurance firm Arthur J. Gallaghar & Co. to acquire minority stake in company’s arm Edelweiss Insurance Brokers.
• Hindustan Unilever: Shareholders to meet on June 29 to approve amalgamation with GSK Consumer Healthcare.
• IDFC First Bank: ICRA downgrades long term rating of the Bank to AA from AA+. The rating downgrade considers IDFC First Bank Limited’s weak earnings profile, given the elevated cost-to-income ratio because of the ongoing branch expansion, which has been pressurizing the operating profitability, and an increase in credit provisions on account of unanticipated fresh stressed exposures identified by the bank in Q4 FY2019.
• Asian Granito to sell its 50 percent stake in its JV with Italian based Panaria Group and exit the agreement. The joint venture between both the companies was entered in February 2012. The company says in in last couple of years Indian Market dynamics have changed dramatically in terms of Advanced Production technology and it has upgraded to cater all types of market requirements for domestic as well as in export. The agreement ends with effect from May 21.
• FDC: Board to consider share buyback on May 24
• Vedanta and its Zambian unit Konkola Copper Mines reiterate request for “an immediate and urgent meeting” with President Edgar Lungu, companies say in emailed statement. Company seeks to meet the government “as a matter of urgency to discuss the future of the mines and the impact that the current
• onerous situation is having on the company, the people of the Copper belt and the Zambian people as a whole”.
• Future Supply Chain Solutions executes its agreement to acquire 77.15 percent stake in Leanbox for Rs 9.4 crore.
• UFO Moviez: Board approves dissolution of the company’s Sri Lankan arm, due to non-operations seen in it.

Pledge Share Detail

• Bombay Burmah Trading Corporation promoter Bombay Dyeing & Manufacturing Co created pledge of 1 lakh shares on May 16
• JSW Steel promoter groups created pledge of 14.5 lakh shares on May 16
• Delta Corp promoter Aryanish Finance and Investments created pledge of 10.5 lakh shares and revoked pledge of 50,000 shares from May 16-17
• Kesoram Industries promoter Manav Investment and Trading Co created pledge of 1.02 crore shares on May 17
• JSW Energy promoter group Indusglobe Multiventures created pledge of 41.5 lakh shares on May 16

Corporate Actions

• Indiabulls Venture, DCM Shriram, Eveready Industries to move into short ASM Framework
• Neogen Chemicals, Vikas Multicorp price band revised to 20 percent

Insider Trading

• Mindtree: L&T acquires 71,800 shares on May 21
• Cyient promoter BVR Mohan Reddy acquired 10,000 shares on May 16
• Tanla Solutions promoter D.Tanuja Reddy acquired 34,000 shares on May 20
• LT Foods promoter group Rahuvesh Holdings acquired 33,000 shares on May 20

Active Stock Future

Futures –May series

Nifty

• Nifty futures closed trading at 11,715, premium of 6 points versus 31 points
• Nifty open interest down 2 percent, sheds 4.1 lakh shares in open interest

Bank Nifty

• Bank Nifty futures closed trading at 30,388.9, premium of 80 points versus 56 points
• Bank Nifty open interest down 5 percent sheds 71,000 shares in open interest

Options

• Nifty PCR at 1.19 versus 1.28 (across all series)

Nifty Weekly Expiry May 23

• Max open interest on call side at 12,000 (14.4 lakh shares)
• Max open interest at Put side at 11,500 (8.8 lakh shares)
• Max open interest addition seen at 12,200 (+4.9 lakh shares), 12,500C (+4.4 lakh shares), 12,000C (+3.8 lakh shares)

Nifty Monthly Expiry May 30

• Max open interest on call side at 12,000 (36 lakh shares)
• Max open interest on Put side at 11,000 (35.9 lakh shares)
• Max open interest addition seen at 12,400C (+6.6 lakh shares), 12,200C (+3.4 lakh shares)

Stocks In Ban

• Adani Power
• IDBI Bank
• Jet Airways
• Reliance Capital

Results Announced

Tech Mahindra (Q4, QoQ)

• Dollar revenues up 0.6 percent at $1268 million
• Revenues down 0.6 percent at Rs 8892 crore
• Net profit down 6.6 percent at Rs 1127 crore
• EBIT down 5 percent at Rs 1368 crore
• Margins at 15.4 percent vs 16.1 percent

Jindal Steel & Power (Q4, YoY)

• Revenues up 18.1 percent at Rs 10159 crore
• Net loss at Rs 2145.8 crore vs Net loss at Rs 308.1 crore
• EBITDA down 13.7 percent at Rs 1844.8 crore
• Margins at 18.2 percent vs 24.8 percent
• Exceptional loss of Rs 1733.9 crore in current quarter

Aarti Industries (Q4, YoY)

• Revenues up 17.7 percent at Rs 1211.4 crore
• Net profit up 47 percent at Rs 124.5 crore
• EBITDA up 31.4 percent at Rs 236.9 crore
• Margins at 19.6 percent vs 17.5 percent

Bharat Financial Inclusion (Q4, YoY)

• Net Revenue up 46.5 percent at Rs 670.1 crore
• Net profit up 50.5 percent at Rs 321.2 crore
• Loan Disbursements up 14 percent at Rs 6568 crore

Jamna Auto Industries (Q4, YoY)

• Revenues down 20.3 percent at Rs 542.8 crore
• Net profit down 28.5 percent at Rs 33.4 crore
• EBITDA down 22.8 percent at Rs 69 crore
• Margins at 12.7 percent vs 13.1 percent

Subros (Q4, YoY)

• Revenues down 6.2 percent at Rs 518.1 crore
• Net profit down 12.9 percent at Rs 16.2 crore
• EBITDA down 13.9 percent at Rs 54.9 crore
• Margins at 10.6 percent vs 11.6 percent

Eris Lifesciences (Q4, YoY)

• Revenues up 1.2 percent at Rs 214.8 crore
• Net profit down 3 percent at Rs 54.1 crore
• EBITDA down 13.5 percent at Rs 62.1 crore
• Margins at 28.9 percent vs 33.8 percent

Crompton Greaves Consumer Electricals (Q4, YoY)

• Revenues up 7.2 percent at Rs 1206.9 crore
• Net profit up 36.1 percent at Rs 140.5 crore
• EBITDA up 1.6 percent at Rs 167.1 crore
• Margins at 13.8 percent vs 14.6 percent

Prataap Snacks (Q4, YoY)

• Revenues up 11.8 percent at Rs 306.5 crore
• Net profit up 27.8 percent at Rs 13.8 crore
• EBITDA up 7.8 percent at Rs 22.2 crore
• Margins at 7.2 percent vs 7.5 percent

Somany Ceramics (Q4, YoY)

• Revenues down 4.1 percent at Rs 518.8 crore
• Net profit down 6.9 percent at Rs 24.1 crore
• EBITDA up 13.5 percent at Rs 70.5 crore
• Margins at 13.6 percent vs 11.5 percent

Cochin Shipyard (Q4, YoY)

• Revenues up 31.1 percent at Rs 787.6 crore
• Net profit up 6.4 percent at Rs 97.5 crore
• EBITDA down 4.5 percent at Rs 109.9 crore
• Margins at 14 percent vs 19.2 percent

KEI Industries (Q4, YoY)

• Revenues up 22.2 percent at Rs 1258.8 crore
• Net profit up 20.8 percent at Rs 59.9 crore
• EBITDA up 36.1 percent at Rs 137.5 crore
• Margins at 10.9 percent vs 9.8 percent

Nifty Results

• Cipla
• IndusInd Bank

Other Results

• Symphony
• Skipper
• Jindal Saw
• Bank of Baroda
• Canara Bank
• JK Lakshmi Cement
• Caplin Point Laboratories
• Central Bank of India
• ADF Foods
• Redington
• S H Kelkar and Company
• Sagar Cements
• Ramco Cements
• Allcargo Logistics
• Apex Frozen Foods
• Asahi India Glass
• Ashoka Buildcon
• Bajaj Electricals
• Thermax
• Balaji Telefilms
• Century Extrusions
• Cummins India
• Future Consumer
• GE T&D India
• Gujarat State Fertilizers & Chemicals
• Heritage Foods
• IG Petrochemicals
• Indo Count Industries
• ITD Cementation
• Man Infraconstruction
• MOIL
• Munjal Auto Industries
• Orient Bell
• Pennar Engineered Building Systems
• Power Mech Projects
• PPAP Automotive
• Quess Corp
• Ramco Systems
• Rane Brake Lining
• Sastasundar Ventures
• Schneider Electric Infrastructure
• T D Power Systems
• Veto Switchgears And Cables
• Vikas Proppant & Granite
• TCI Express
• Max Ventures and Industries
• India Nippon Electricals