Stocks To Watch: Axis Bank, Cipla, Bajaj Finance, Nippon Life
Trends on SGX Nifty also indicated a subdued opening for the markets back home.
New Delhi: The domestic stock markets are expected to trade cautiously on Wednesday, taking cues from the global markets. Asian stocks plunged as Japan's Nikkei fell 0.55 per cent, Hong Kong's Hang Seng index declined 1.46 per cent, South Korea's KOSPI was down 0.76 per cent and Shanghai Composite index declined 0.7 per cent. Trends on SGX Nifty also indicated a subdued opening for the markets back home. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures fell 0.25 per cent or 46 points to 18,287
The benchmark BSE Sensex had ended 383.21 points or 0.63 per cent higher at 61,350.26 on Tuesday. The broader NSE Nifty had advanced 143 points or 0.79 per cent to settle at 18,268.40.
Here Are Stocks To Watch During Today's Session:
Axis Bank: The private lender will be in focus after it reported its highest-ever quarterly profit at ₹ 3,133 crore on a standalone basis, compared to ₹ 1,682.67 crore in the corresponding period last year, marking a growth of 86 per cent year-on-year.
Cipla: The company reported higher profit at Rs 712 crore in the second quarter of the financial year 2021-22 (Q2 FY22) against Rs 661.8 crore in Q2 FY21.
Nippon Life India Asset Management: The company's profit grew by 47 per cent to Rs 214 crore in Q2 FY22 (year-on-year) and assets under management market share grew by 7.33 per cent.
Bajaj Finance: The company's profit jumped to Rs 1,481 crore in Q2 FY22 against Rs 964.9 crore in Q2 FY21. Bajaj Finance's revenue increased to Rs 5,335 crore from Rs 4,165 crore (year-on-year).
Cadila Heathcare: The government has negotiated the pricing of Zydus Cadila's Covid-19 vaccine ZyCoV-D and is set to roll it out in the public immunisation programme within weeks.
Meanwhile, ITC, Bajaj Auto, Larsen & Toubro, Aarti Drugs, SBI Life, Adani Ports, Adani Enterprises, Lupin and Maruti Suzuki will be on investors' radar as they will report their September quarter earnings later in the day.