The Sensex and Nifty are at a 28-month high as equities gained for the fourth consecutive week. The bull run has been on the back of a global rally that has sent U.S. indexes to record highs. Foreign investors have been net buyers for 15 consecutive sessions, bringing their total for the year to $12.73 billion. Investors are also betting the RBI will continue to cut rates after having lowered them by 75 basis points so far this year. Inflation data due this will be a key trigger for trade.
Here are the 10 stocks to track today.
- Reliance Communications: CLSA maintains sell call with a target of Rs 70 citing high valuations and large debt.
- Reliance Power: Q4 sales seen down 7.5 per cent quarter-on-quarter at Rs 285 crore.
- Sun Pharma: Morgan Stanley maintains overweight, while raising the target price from Rs 845 per share to Rs 1,159. The investment bank has added Sun Pharma to its Asia's Best Ideas list.
- DLF to offer 3.6 per cent or 8.1 crore shares in a price band of Rs 222-233 per share (at a discount) on May 14. This will bring down debt from Rs 21,000 crore (at the end of Q3) to Rs 19,000 crore and help meet the 25 per cent free float criteria.
- PVR: Axis Capital has initiated coverage on the stock with buy call and a target price of Rs 410. PVR is best placed to capitalize on rising footfalls, the brokerage says.
- Bank of Baroda will report Q4 number today: Net profit is seen falling 28 per cent to Rs 1,085 crore against Rs 1,518 crore year-on-year on account of a tax-write back. Slippages are likely to remain at the Q3 levels of Rs 2,000 crore.
- Bank of India likely to report 10.6 per cent dip in net profit at Rs 852 crore. Gross slippages are seen at Rs 1,200- Rs 1,400 crore.
- Essar Oil: Credit Suisse has downgraded the stock to underweight and cut its target price to Rs 65 per share. Reduction of interest cost is a dire need, the investment bank says.
- Nestle India: Net profit seen rising 10 per cent to Rs 317 crore. EBITDA margins are seen flat at 22.3 per cent.
- Eicher Motor: Net profit seen down 20 per cent to Rs 87.5 crore, while EBITDA margins are seen falling to 8 per cent from 10.6 per cent due to lower profits from commercial vehicles.