Infosys and TCS Q4 Result Announcement, Oil Prices and Top Stocks to Watch Out Today

Fri, 12 Apr Pre-Open

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On Thursday, the Indian share markets ended flat after a rangebound session. Gains were largely seen in the energy sector and telecom sector, while metal stocks and IT stocks witnessed selling pressure.

At the closing bell, the BSE Sensex stood higher by 22 points (up 0.1%) and the NSE Nifty closed up by 12 points (up 0.1%). The BSE Mid Cap index closed up by 0.1%, while the BSE Small Cap index ended the day flat.

Top Stocks in Focus

Lupin share price will hog limelight as it has received approval for Testosterone Gel from the USFDA to market a generic version of AbbVie, Inc's AndroGel.

Infosys and TCS will be in focus today as they are set to announce the results for its fourth quarter and year ended 31 March 2019.

Capacite Infraprojects has bagged orders worth around Rs 4 billion in Mumbai from two real estate developers, Oberoi Realty and K Raheja Corp.

NMDC is ramping up its iron ore mining capacity and is planning to set up a new integrated steel manufacturing plant at a cost of US$2.2 billion (about Rs 153.4 billion).

Bharti Airtel has made a payment of over Rs 27.5 billion to the Department of Telecom (DoT) towards its spectrum dues. Earlier, the company had made deferred payment of over Rs 19.2 billion to the department of Telecom in March. The deferred payment is for the installment for spectrum bought in auctions.

Meanwhile, Vodafone Idea has made a payment of over Rs 62.8 billion to the DoT towards its spectrum dues.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

Global Stock Market Drivers

On Thursday, the lackluster week for global markets dragged on, with European stocks and US equity futures drifting after central bankers warned of threats to the global economy. Treasuries edged down while the dollar was steady.

In Asia earlier, Chinese shares led a decline across the region's markets. The pound fluctuated after the European Union agreed to give Britain until the end of October to avoid a chaotic Brexit.

Here are some notable events coming up:

• US banks begin reporting first-quarter earnings, led by JPMorgan and Wells Fargo.
• Singapore decides on monetary policy and releases GDP data today.

Oil Prices Slip

Rising US crude stocks dragged oil lower on Thursday, but prices continued to find a floor as OPEC-led cuts and freefalling Venezuelan output tightened global supplies.

International benchmark Brent futures were at US$71.43 a barrel, down 30 cents from their last close.

US West Texas Intermediate (WTI) crude oil futures were down 35 cents at US$64.26 per barrel.

US crude inventories surged by 7 million barrels to a 17-month high of 456.6 million barrels last week, the Energy Information Administration said on Wednesday.

US crude oil production remained at a record 12.2 million barrels per day (bpd), making the United States the world's biggest oil producer ahead of Russia and Saudi Arabia.

From the IPO space...

Bajaj Energy along with Lalitpur Power Generation Company, filed for an initial public offering (IPO) with the market regulator with a plan to raise Rs 54.5 billion through offer.

The offer comprises fresh issue of share up to Rs 51.5 billion by the company and an offer-for-sale of equity shares by Bajaj Power Ventures aggregating up to Rs 3 billion.

With IPOs hitting the markets again, we at Equitymaster believe a merit-based selection, primarily including valuation, business, and management quality, is the logical way to go about investing in IPOs.

If it means going against the herd, so be it. And going by recent past, this strategy has been proven to be successful more often.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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Indian Share Market Update: Top Gainers and Losers