New Delhi, India (BBN)-The Nifty is likely to open with strong gains after days of selloff that has seen the bluechip index shed nearly 800 points in three weeks.
But investors would be closely tracking if the rebound would be sustained. A key number to watch would be foreign fund flows, reports NDTV.
FIIs have sold heavily in the cash market over the last many days, but with the government clarifying on Minimum Alternate Tax on capital gains, the selloff is expected to come to a halt.
1) Aditya Birla Nuvo has announced consolidation of its garments business into a single unit called Aditya Birla Fashion and Retail (ABFRL).
The garments business of AB Nuvo and Madura Garments Lifestyle Retail Co would be demerged into listed firm Pantaloons Fashion & Retail.
Shareholders of AB Nuvo will get 520 shares of the new entity for every 100 shares.
2) Auto firms led by Maruti Suzuki will react to monthly sales number.
3) IDFC will react to its Q4 earnings.
It had reported a net profit of Rs 382 crore on net interest income of RS 641 crore, which was in-line with expectations.
4) Grasim Industries reported lower-than-estimated earnings. Its net profit declined 76 per cent annually to Rs 31 crore on sales of Rs 1,701 crore in Q4.
5) Shriram Transport Finance reported a net profit of Rs 84 crore on net interest income of Rs 1,105 crore. Its earnings were lower than the Street estimates.
6) Adani Ports and Special Economic Zone reported ahead of estimates. Q4 net profit increased 34 per cent annually to Rs 103 crore on total income of Rs 345 crore.
7) BPCL/ HPCL/IOC: Oil marketing companies are likely to open higher tracking the hike in fuel prices.
8) SKS Microfinance, V-Guard Industries, Can Fin Homes, Mangalam Cement will report their earnings for the January-March quarter today.