Nifty Likely to Open in Red, L&T to be in Focus

The 50-share Nifty is likely to open in the negative territory in trades on Monday tracking subdued trading of Nifty on the Singapore Stock Exchange.

The Nifty which is traded on the Singapore Stock Exchange or commonly known as the SGX Nifty was down 0.35 per cent or 30 points at 8,449.

On Friday the government released the gross domestic product figures. March quarter gross domestic product or GDP data showed that India is the fastest-growing major economy in the world. 

India's gross domestic product grew by 7.5 per cent in the fiscal fourth quarter, beating estimates. A Reuters poll of economists had expected GDP to grow by 7.3 per cent in the January-March quarter.

According to Goldman Sachs, Q4 GDP numbers were disappointing.

Meanwhile, these shares will be in focus today:

Larsen & Toubro: Larsen & Toubro announced its fourth quarter numbers on Saturday, The company's standalone net sales came in lower than expected at Rs 18,967 crore. Domestic revenues slipped 21 per cent year on year and hydrocarbon business also witnessed loss of Rs 150 crore.

Sun Pharma: Sun Pharma came out with its fourth quarter numbers post the market hours on Friday. The company's net sales came in at Rs 6,144 crore against Rs 4,043 crore during the same period last year. The results were below estimates as the adjusted margins in Q4 came in at 24.5 per cent versus estimated of 31 per cent. Sun Pharma's US sales fell 10 per cent quarter on quarter.

Cipla: Cipla which came out with its numbers post the market hours on Friday posted a dismal set of fourth quarter numbers. The company reported net profit of Rs 259 crore whereas the analysts were expecting the company to post profit of Rs 346 crore. 

Power Grid: Power Grid's net profit jumped 20 per cent to Rs 1,412 crore. The company's sales came in at Rs 4,703 crore versus Rs 1,175 crore year on year. Analysts said that the results posted by Power Grid were better than expected.

Sun TV: Sun TV also reported its number over the weekend; It reported poor set of fourth quarter numbers. The company's sales came in at Rs 548 crore compared to Rs 520 crore during the same quarter last year. 

Reliance Communication: RCom reported 46 per cent rise in its fourth quarter net profit which came in at Rs 228 crore. Its EBITDA came in higher than expectations at Rs 1,976 crore compared to Rs 1,851 crore during the previous quarter.