Indian equity markets traded flat Thursday as global cues turned bearish again.
Tokyo's Nikkei 225 stock average slipped after the country — which for decades has blanketed the world with its exports — posted its biggest annual trade deficit ever. Spain's problems have added to ongoing worries about global economic growth because China's economy also is slowing.
Here are five stocks to track today.
1) Indraprastha Gas Limited: Tariff case in High Court today
The Petroleum and Natural Gas Regulatory Board issued an order last week determining network tariff and compression cost for IGL's city gas distribution network for Delhi region and asked it to refund the difference to its customers for the period from April 1, 2008. This order will wipe out all of IGL's future earnings.
IGL has challenged that directive in the Delhi High Court in a petition that comes up for hearing today. In its petition, IGL said that the regulatory authority had arbitrarily overstepped its jurisdiction. Today is the date for the final hearing on this case.
2) IndusInd Bank: Eye on results
The bank's core income, also called the net interest income, is seen rising 18.5% at Rs 460 crore against Rs 388.09 crore (YoY). Net profit is seen rising over 22% at Rs 210 crore against Rs 171.76 crore. Advances are seen growing at 30% (YoY) though deposit growth is seen moderating (on a higher base) at 25% (YoY).
Margins are expected to come down sequentially (QoQ). Fee income growth is expected to be strong.
3) Ambuja Cements: Q1 sales seen rising 23%
Sales are seen rising 23.4% at Rs 2,724 crore against Rs 2,207 crore (YoY) while net profit is expected to grow 9.4% at Rs 446 crore against Rs 407.5 crore (YoY).
Cement companies hiked prices by average Rs 10-25 per bag in the March quarter. Sales volume are seen up 8% YoY, 16% QoQ to 6.1 MT. Cement realization seen up 17% YoY and 3% QoQ to Rs 4,299 per tonne. Operating profit margins are likely to improve by 760 basis points (QoQ) to 25.7%.
4) ACC: Q1 profit expected to rise 16.5%
Sales are seen up 22.5% at Rs 2,938.62 crore against Rs 2,398.2 crore (YoY) while net profit is expected to rise 16.5% at Rs 408.81 crore against Rs 350.7 crore (YoY).
Dispatch growth seen at 5% YoY (3% QoQ) at 5.87 million tonne in the March quarter. Average realizations are likely to rise 6.7% QoQ (15.5% YoY) to Rs 4,032 per tonne. Ebitda margin to expand by 660 basis points QoQ (-90 basis points YoY) to 22.2%. Ebitda is likely to be driven by higher realizations, despite continuing cost push.
5) Hindustan Zinc: Q4 numbers today
Net sales are seen down 4.9% at Rs 3,075.8 crore against Rs 3,237.3 crore (YoY). PAT is seen down 16.62% at Rs 1,476.8 crore against Rs 1,771.2 crore (YoY). Ebitda margin is seen down 8.52% at 52.28% against 60.8% (YoY).
(With inputs from AP)
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
