As many as 43 companies are scheduled to declare their June quarter results today.
Analysts expect Tata Motors' revenue and bottom-line to be hit by the decrease in volume across all segments and see a 28-30 per cent year-on-year (y-o-y) fall in net profit and 13-16 per cent dip in revenue for the period under review.
On the other hand, Bank of Baroda is expected to post stronger numbers on standalone basis while analysts would eye results for the merged entity.
You can read more on what analysts expect from both the results on our website Business Standard.com
Now, let's see how the global markets have fared overnight and they mean for Sensex and Nifty.
US stocks pushed higher overnight after a series of weaker-than-expected purchasing manager index readings in the United States and Europe on Wednesday bolstered hopes of a Fed rate cut. Although the Dow fell 0.29 per cent to 27,270, the S&P 500 gained 0.47 per cent to 3,020 and the Nasdaq Composite added 0.85 per cent to 8,321.
Asian shares, however, were cautious. Japan’s Nikkei gained 0.5 per cent, Australia’s benchmark index hit a new 12-year top, while MSCI’s broadest index of Asia-Pacific shares outside Japan were unchanged.
SGX Nifty is indicating a positive start for the domestic indices.
Next, let's see what today's top headlines are --
IndiGo's warring promoters Rahul Bhatia and Rakesh Gangwal have agreed on a board structure that gives higher representation to Bhatia’s InterGlobe Enterprises (IGE). However, the board has agreed to strengthen the policy on related-party transactions, as demanded by Gangwal.
The Union Government has approved Trai's to levy a total penalty of Rs 3,050 crore on Bharti Airtel and Vodafone Idea for refusing to provide points of interconnection to Reliance Jio.
DHFL has defaulted on bond repayments worth Rs 8.07 crore on July 23, as per an exchange filing.
Credit rating agency Icra has downgraded ratings on Yes Bank’s bonds worth ₹32,911.7 crore, citing an increase in stressed assets and lack of debt resolutions.
And finally, most mid-tier IT companies have put up a dismal performance in the first quarter of the financial year 2019-20 (Q1FY20), nudging brokerages to not only slash target prices for stocks, but also downgrade their ratings. We have a special story exploring the road ahead for these companies, and what you, the investor, should do about these stocks. For this article, more news and market updates, log on to Business-Standard.com