Sensex, Nifty end mildly higher; SBI, DRL top gainers

The 30-share BSE Sensex was up 35.11 points at 34,651.24 and the 50-share NSE Nifty gained 20 points at 10,536.70. About 1,442 shares advanced against 1,169 declining shares on the BSE.

Nifty Midcap was up 48 points.

Bajaj Finance, Bajaj Finserv and Berger Paints hit new highs intraday.

Ashok Leyland, Havells India, Strides Shasun, Jet Aiways, Just Dial, Motilal Oswal and Endurance Technologies gained up to 15 percent.

Adani Power and GVK Power were down up to 3 percent.

Beer Price Increase: United Breweries has increased Kingfisher Beer prices by 2-3 percent in Mumbai, reports CNBC-TV18 quoting Cogencis.

Results reaction: Dr Reddy's Laboratories shares price increased by 8 percent despite decline in net profit for the quarter ended March 2018.

The company Q4FY18 net profit declined by 3.3 percent year-on-year to Rs 302.2 crore in the fourth quarter ended March 31 due to continuing headwinds in the US and steep sales drop in Russia.

The company reported a net profit of Rs 337.6 crore during the same period last year.

Revenue during the quarter grew 1 percent to Rs 3,534.9 crore compared to Rs 3,498.5 crore a year ago. 

Results: Jamna Auto Industries has reported 33.5 percent jump in its Q4FY18 net profit at Rs 46.7 crore against Rs 35 crore, in a year ago period.

Revenue increased by 55.9 percent at Rs 596.7 crore versus Rs 382.8 crore.

EBITDA or operating profit was up 49.6 percent at Rs 89.4 crore and margin was at 15 percent.

The board recommended final dividend of 55 paise per equity shares of Re 1 each.  

Beer Price Increase: United Breweries has increased Kingfisher Beer prices by 2-3 percent in Mumbai, reports CNBC-TV18 quoting Cogencis.

Is the midcap party which started during Modi regime ending?

Elara Capital The bull market in midcaps started after 2014 . Since then, we saw massive inflows into local mutual fund (MF) portfolios. Most funds were diverted into mid and smallcaps due to lack of largecap options.

Market Update: The market continued to be rangebound as investors closely monitor earnings season, and the movement in oil prices and rupee.

The 30-share BSE Sensex was up 29.44 points at 34,645.57 and the 50-share NSE Nifty rose 15.30 points to 10,532.

Tata Motors gained 4 percent ahead of March quarter earnings due tomorrow. Reuters poll estimates expect strong earnings growth on sequential basis.

SBI was also up 4 percent even as it posted net loss of Rs 7,718 crore for the March quarter on sharp spike in provisions while IOC declined 1.5 percent after Q4 profit dropped 34 percent QoQ.

Earnings Reaction: Symphony share price fell 6 percent intraday after the company reported a 4.5 percent decline YoY in profit at Rs 41.9 crore compared to Rs 43.9 crore in March quarter 2017.

Revenue from operations during the quarter fell 14 percent to Rs 155.4 crore and operating income was down 0.1 percent to Rs 49.5 crore, but operating profit margin jumped 450 basis points to 31.9 percent compared to year-ago period.

Results: Bosch's March quarter profit fell 1.5 percent year-on-year to Rs 433.8 crore on weak operational performance.

Profit in the year-ago quarter stood at Rs 440.5 crore.

Revenue from operations in Q4 grew by 22.7 percent to Rs 3,158 crore from Rs 2,574.6 crore in same period last year.

Operating income declined 1.8 percent year-on-year to Rs 691.4 crore and margin contracted 540 basis points to 21.9 percent in Q4.

Bosch said the board of directors has announced final dividend of Rs 100 per share. 

ED seizes Rs 20.87cr assets of Dabur's Burman: The ED said it has seized assets worth Rs 20.87 crore of Dabur group Director Pradip Burman in connection with its FEMA probe in the HSBC bank black money list unearthed few years ago.

The Enforcement Directorate (ED) initiated the action under the provisions of the Foreign Exchange Management Act (FEMA) and the seized assets include 50,000 tax -free government bonds of HUDCO and IRFC.

The agency took over the case on the basis of a charge sheet filed by the Income Tax Department (ITD) against Burman as part of its probe in the leaked HSBC list of Indians.

The trial in this ITD case is still to commence, reports PTI.

China to cut import duty on cars to 15% from 25%: Report

The report said China's cabinet has decided to cut the levy without elaborating further. Bloomberg previously reported Beijing was considering cutting the tariff rate to as low as 10 percent.  

Dr Reddy's Q4 net profit drops 3.3% as sales slump in Russia, headwinds in US

Dr Reddy's Laboratories said its net profit declined by 3.3 percent year-on-year to Rs 302.2 crore in the fourth quarter ended March 31 due to continuing headwinds in the US and steep sales drop in Russia.

Earnings: State-owned Indian Oil Corporation has reported profit at Rs 5,218 crore crore on revenue of Rs 1,17,368 crore for the quarter ended March 2018.

Calculated gross refining margin came in at $9.15 a barrel for the quarter.

Operating profit for the quarter stood at Rs 11,021 crore and margin at 9.4 percent for the quarter ended March 2018.

Experts' Take on SBI Earnings: “Looking at other banks’ results, analysts were expecting State Bank of India to post a huge loss as well, the expectations could have been around Rs 2,000-odd crore. While all PSU banks have been writing off (their books) aggressively, in SBI’s case too it was anticipated. With such results, the stock could have probably fallen, but has actually managed to be steady. So, the worst was probably being priced in by investors in case of this stock,” AK Prabhakar, Head of Research at IDBI Capital told Moneycontrol.

SBI Earnings: Net interest income, the difference between interest earned and interest expended, fell by 5.2 percent to Rs 19,974 crore from Rs 21,065 crore YoY

Fresh slippages were very high at Rs 33,670 crore for the quarter ended March 2018, against Rs 25,836 crore reported in previous quarter.

Provisions and contingencies for the quarter ended at Rs 28,096 crore, an increase of 48.84 percent sequentially and 139.3 percent YoY.

SBI said watchlist in current financial year would be Rs 25,802 crore.

Earnings: State Bank of India share price gained nearly 2 percent despite reporting a big loss of Rs 7,718 crore for the quarter ended March 2018.

Asset quality weakened further as gross non-performing assets were higher at 10.91 percent from 10.35 percent QoQ and net NPA rose 5.73 percent against 5.61 percent QoQ.

Earnings Reaction: VIP Industries share price gained nearly 5 percent after consolidated net profit in Q4FY18 grew by 83.3 percent year-on-year to Rs 35 crore from Rs 19.1 crore YoY.

Revenue from operations increased 19.6 percent to Rs 362.6 crore compared to Rs 303 crore in year-ago.

Operating profit during the quarter jumped 83.2 percent YoY to Rs 54.3 crore and margin expanded by 520 basis points to 15 percent YoY.

Tax expenses nearly doubled to Rs 16.8 crore from Rs 8.9 crore YoY.

Market Update: The market is trading mildly higher amid consolidation as investors await SBI earnings due later in the day. Investors also closely monitor the movement in rupee and crude oil prices.

Tata Motors is the biggest gainer among Nifty50 stocks, rising 5 percent ahead of March quarter earnings. Reuters poll estimates expect strong earnings growth on sequential basis.

Bajaj Finance and Bajaj Finserv are back in action again after a day of break, rising 3 percent and 4 percent, respectively.

The Sensex is up 56.37 points at 34,672.50 and the Nifty gained 19.30 points at 10,536.

Earnings Estimates: Tata Motors share price rallied 4.4 percent intraday ahead of January-March quarter earnings due tomorrow.

The owner of luxury car brand Jaguar and Land Rover is expected to report good set of earnings on sequential basis due to favourable base but year-on-year numbers are expected to be weak.

Profit for the quarter is likely to be at Rs 4,041.5 crore, a 6.8 percent decline compared to Rs 4,336.4 crore reported in corresponding period last fiscal, according to Reuters poll estimates. Sequential increase in profit is likely to be 257 percent.

Revenue from operations is seen rising 15.9 percent year-on-year (up 21 percent QoQ) to Rs 89,507.7 crore from Rs 77,217.19 crore on volume growth.

Tata Motors' standalone sales volumes in March quarter grew by 35 percent YoY and 19.1 percent QoQ while JLR showed volume growth of 15.7 percent QoQ and degrowth of 2.6 percent YoY.

NCLAT issues notice to Bhushan Steel RP: The National Company Law Appellate Tribunal issued notice to the resolution professional (RP) and Committee of Creditors (CoC) of Bhushan Steel over the plea filed by its operational creditor L&T.

NCLAT also impleaded Tata Steel, whose bid for the debt ridden firm has been approved, as party over L&T plea seeking to recover Rs 900 crore.

"Let notice be issued to CoC and RP. File their replies by May 28," said the NCLAT bench headed by Chairman Justice S J Mukhopadhaya.

The bench has directed that the matter be listed on May 30 for next hearing. It has also directed the engineering and construction major to file certified copy of NCLT order.

On May 15, the National Company Law Tribunal (NCLT) had  approved the resolution plan submitted by the RP of Bhushan Steel, which has found Tata Steel as the highest bidder. The CoC had approved Rs 32,500 crore deal along with 12.27 per cent equity in the company offered by Tata Steel, reports PTI.

Earnings: Pharma major Dr Reddy's Laboratories has reported profit at Rs 302 crore on revenue at Rs 3,535 crore for the quarter ended March 2018.

Operating profit for the quarter stood at Rs 577.7 crore and margin at 16.3 percent.

Buzzing: Shares of TTK Prestige touched 52-week low of Rs 5,612, losing 2 percent intraday as company reported 32 percent fall in its Q4 (Jan-March) net profit at Rs 37.44 crore against Rs 55.3 crore in the same quarter last fiscal.

Revenue from operation rose 11 percent at Rs 465.94 crore versus Rs 418.92 crore.

The board recommended a dividend of Rs 30 per equity share for the year.

Credit Suisse has upgraded the stock to neutral from underperform rating and also raised target to Rs 6,300 from Rs 5,900 per share.

According to Credit Suisse, a strong quarter for growth amidst reasonable valuations. Meanwhile, growth was consistent across both South and non-South markets.   

Market Update: The market continued to consolidate after witnessing losses in previous five consecutive sessions, as investors closely monitor corporate earnings, and the movement in rupee & crude oil prices.

Bharat Forge share price fell 2 percent after the country's largest forging company reported more than 50 percent decline YoY in profit on one-time loss due to impairment investment.

The 30-share BSE Sensex was up 60.85 points at 34,676.98 and the 50-share NSE Nifty gained 21.70 points at 10,538.40. About five shares advanced for every four shares falling on the BSE.  

NSE drags Singapore Exchange to court: Leading bourse NSE has dragged the Singapore Exchange (SGX) to court over the overseas bourse's plans to launch Nifty-based derivative products.

SGX has, however, reiterated its plan to list the new Indian derivatives in June.

"SGX has been notified by the National Stock Exchange of India (NSE) of an application made in the Bombay High Court for an interim injunction on our new products," the overseas exchange said in a statement issued today.

"We have full confidence in our legal position and will vigorously defend this action," it added.

SGX also said that it has informed NSE that India needs to maintain liquidity in its offshore equity derivatives market.

Defending its move, SGX said that its new India futures and options, which have received the relevant regulatory approvals, will list in June 2018 and allow its clients to seamlessly transition their India risk management exposures. "Our new India equity derivative products are essential to enable institutional investors to maintain their current portfolio risk exposure to the Indian capital markets," said Michael Syn, Head of Derivatives at SGX, reports PTI.

Bharat Forge's B N Kalyani says: Looking ahead into FY19, the company expects continued strong performance across sectors primarily driven by combination of continued growth in end market demand and new product ramp up.

In FY18, the company has secured long term orders of Rs 700 crore across various segments and geographies.

Over the past two years, new business wins of Rs 1,500 crore have been secured, 90 percent of wins being from passenger vehicles and industrial segment. "This coupled with the ongoing work on new product development, is creating a robust product pipeline and will enable further de-risking of revenue stream in the coming years."

Kalyani said the company is undertaking an expansion of its forging and machining capacity at Baramati facility by investing Rs 400 crore. "This will cater to the requirements of automotive and industrial markets globally. This investment along with the greenfield at Nellore puts us on a strong organic growth trajectory."

SBI likely to report loss in Q4FY18 on rise in provisions, NPAs

Gross NPAs may jump to 11.5 percent (from 10.35 percent in Q3FY18), while net NPAs are likely to rise to 6.1 percent (5.61 percent in Q3FY18) of total loans.

Earnings: Bharat Forge has reported a 51.7 percent decline YoY in profit at Rs 100.3 crore against Rs 207.5 crore, due to one-time loss of Rs 133.2 crore on impairment of investment.

Revenue from operations in Q4 grew by 30.3 percent to Rs 1,466.6 crore compared to Rs 1,125.7 crore in year-ago.

Operating profit grew by 30.6 percent to Rs 417.7 crore from Rs 320 crore YoY. Operating profit margin improved by 10 basis points to 28.5 percent from 28.4 percent YoY.

Order Win: Steel Strips Wheels has bagged another exports order from US Truck & Trailer aftermarket for its new truck steel wheels plant in Chennai.

Order comprises of 17,000 truck Wheels to be shipped from it's Chennai Truck plant in next 3 months. Total order value is close to USD 700,000.

SSWL is in discussions with other large truck & trailer makers in USA and expects to get more orders in this segment in near future.

SSWL expects to increase its presence in high potential and high value Truck & Trailer wheels market in US & EU in the coming months.

RCom's appeal before NCLAT: Share price of Reliance Communications added 7.5 percent intraday Tuesday after the company appealed before NCLAT against NCLT order.

The company with its two subsidiaries Reliance Telecom and Reliance Infratel today filed appeals before the NCLAT (Hon’ble National Company Law Appellate Tribunal) challenging and praying to stay the order of the NCLT (Hon’ble National Company Law Tribunal), whereby Ericsson applications had been allowed to be admitted for debt resolution under the NCLT Insolvency and Bankruptcy Code (IBC) process.

Last week NCLT had admitted the petition filed by Ericsson.

Ericsson is looking to recover dues of around Rs 1,150 crore from Reliance Communications and two of its subsidiaries.

Buzzing: Share price of Suven Life Sciences rose 2.5 percent intraday as company secured product patents in New Zealand and Norway.

The company has been granted 1 product patent from New Zealand and 1 product patent from Norway corresponding to the new chemical entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases.

These patents are valid through 2034 and 2027.

The granted claims of the patents include the class of selective 5HT 6 compounds and are being developed as therapeutic agents for major depressive disorders and for the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer’s disease, Attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinson and Schizophrenia respectively.

Market Update: The market continued to consolidate as investors monitor corporate earnings, and the movement in crude oil prices and rupee.

SBI is down around a percent ahead of March quarter earnings later in the day. Reuters poll estimates say the bank is likely to report a loss of Rs 1,270 crore on higher provisions towards bad loans

IOC and HPCL are under pressure as Brent crude futures trade higher at around $76.5 a barrel on worries over Venezuelan supply.

The 30-share BSE Sensex was down 0.62 points at 34,615.51 and the 50-share NSE Nifty gained 4.10 points at 10,520.80.

Buzzing: Shares of Future Lifestyle Fashions gained over 3 percent intraday as investors took note of a block deal in the stock.

Bennett Coleman & Co is said to have bought 34 lakh shares of the firm, aggregating to an equity of 1.8 percent for a price of Rs 438 per share.

The company was in the news recently after it also announced that L Catterton Asia, will acquire approximately 10 percent stake in Future Lifestyle through a mix of preferential allotment and secondary purchase of shares.

“L Catterton Asia’s significant investment in FLFL will enable FLFL’s retail formats, Central and Brand Factory, and own brands to leverage the global fashion and retail expertise of L Catterton to further strengthen and expand the business,” the company had said in a statement.

Mahanagar Gas shed almost 8 percent in the morning trade even as the firm posted a 5 percent rise in its March quarter net profit. 

The stock touched an intraday high of Rs 824.55 and an intraday low of Rs 774.00, which was also its 52-week low.

The company, which retails CNG in Mumbai and adjoining suburbs, reported a 5 percent rise in its March quarter net profit to Rs 104.76 crore. The company had a net profit of Rs 99.47 crore in the same period of the previous fiscal, it said in a regulatory filing.

Buzzing: Share price of AstraZeneca Pharma gained nearly 6 percent intraday as company turned profitable in the quarter ended March 2018.

The company has reported profit of Rs 3.2 crore in Q4FY18 against loss of Rs 9.6 crore in the same quarter last fiscal.

The company's revenue increased to Rs 150.72 crore from Rs 116.88 crore.

Buzzing Stocks: Dabur India lost a little over 1.5 percent in the morning trade on Tuesday after agencies reported seizure of assets worth Rs 21 crore from Pradip Burman, Director of the firm. 

The stock has touched an intraday high of Rs 372.55 and an intraday low of Rs 366.20.

News agency ANI reported that the Enforcement Directorate seized assets worth the amount in lieu of assets held abroad under Section 37A of Foreign Exchange Management Act, 199 (FEMA).

Market Check: Equity benchmarks have continued to maintain its lead from the first hour of trade, with the Sensex rising over 100 points, while the Nifty managed to trade above 10,500-mark. All sectoral indices except IT and PSU banks are trading in the green, with strength seen among pharmaceutical names. Midcaps, after a day of underperformance on Monday are mildly outperforming the Sensex and Nifty. Among stocks, Dabur India is buzzing in trade after ED is said to have attached assets worth Rs 21 crore that belong to Pradip Burman, Chairman of Dabur India. SBI is trading around a percent lower ahead of its Q4 earnings which will be declared later in the day.

Fuel Prices at Record High: Petrol & diesel prices in India are at record high levels as the government has consistently been raising fuel prices after Karnataka elections outcome.

Petrol price increased by 30 paise to Rs 84.70 per litre and diesel by 27 paise to Rs 72.48 per litre in Mumbai.

Brent crude futures, the international benchmark for oil prices, traded above $79 a barrel.

Rupee Update: The rupee recovered from its 16-month low to trade 12 paise higher at 67.99 against the US dollar in early session today, after opening 10 paise higher, on fresh selling of the dollar by exporters and banks.

Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies overseas supported the rupee.

Further, investor sentiment turned positive on easing trade woes between the US and China leading to a higher opening of the domestic equity market, boosting the domestic unit, they added.

Yesterday, the rupee had lost 12 paise to close at a fresh 16-month low of 68.12 against the US currency on sustained dollar demand from importers and corporates amid weak global cues, reports PTI.

Buzzing: Shares of Just Dial soared 8 percent as investors cheered strong growth in its net profit for the March quarter.

The listings portal posted 53 percent growth in its net profit for the March quarter to Rs 39 crore against Rs 25.4 crore posted for the corresponding quarter of last year.

Its revenues rose 10 percent at Rs 200.5 crore against Rs 181.7 crore year on year.

At an operating level, the earnings before interest, taxes, depreciation and amortisation (EBITDA) rose over 42 percent at Rs 45.8 crore against Rs 32.2 crore during the March quarter of FY17.

Meanwhile, the operating margin was reported at 22.9 percent, higher than 17.7 percent posted last year.

Traffic (unique visitors) for the quarter stood at 111.6 million, up 28.6 percent YoY and 3.7% QoQ. 70.8% traffic originated on mobile platforms, 21.5 percent on desktop/ PC and 7.7 percent on Voice platform, the company said in a statement.

Market Update: Benchmark indices gained strength after early consolidation, with the Sensex rising 121.28 points to 34,737.41.

The Nifty rose 39 points to 10,555.70, backed by HDFC twins and ICICI Bank.

The market breadth also improved as about 1,053 shares advanced against 785 declining shares on the BSE.

Earnings Reaction: Share price of Dhunseri Petrochem locked at 10 percent lower circuit on the back of poor March quarter numbers.

There were pending sell orders of 29,495 shares, with no buyers available.

The company has posted net loss at Rs 12.5 crore versus loss of Rs 69.6 crore. Revenue for the quarter stood at Rs 172.8 crore.

The company has entered into a share purchase agreement with Egyptian Petrochemicals Holding Company (ECHEM) for the purchase of its 23 percent stake in joint venture company - Egyptian Indian Polyester Company S.A.E (EIPET) in 7 tranches, as per company release.

Buzzing: ?Shares of Bajaj Auto gained around 2 percent during the morning trade as investors bet on ratings upgrade by Nomura.

Nomura upgraded the stock to ‘Buy’ from ‘Neutral’ and raised the target price to Rs 3,395 from Rs 3,252, implying a marginal upside of around 4 percent.

Analysts at the firm wrote in a note that export outlook for the company has improved and that markets such as that of Nigeria have also witnessed a recovery.

Going forward, it expects improvement in rural demand to boost domestic motorcycle sales. In terms of valuations, it said that the stock is trading at 14 times FY20 EPS, which is currently attractive.

CLSA, meanwhile, has maintained its outperform call on the stock, but cut its target to RS 3,060 from Rs 3,550 apiece. This implies a downside of 14 percent, which the firm said is on the back of expensive valuations. 

It observed that volume growth for the company had improved, led by a cyclical recovery in exports, while its domestic 2-wheeler market share is under pressure. The brokerage also sees margin headwinds from increasing commodity prices.  At a valuation of 18 times FY19 PE, the stock is not cheap despite a recent correction, it said, adding that it cut FY19-20 EPS By 4-5 percent.

Market Update: The market continued to consolidate as investors monitor corporate earnings, movement in crude oil prices and rupee.

The 30-share BSE Sensex was down 26.49 points at 34,589.64 and the 50-share NSE Nifty fell 11.50 points to 10,505.20. About three shares declined for every two shares rising on the BSE.

The Nifty Midcap index underperformed frontliners, falling half a percent while PSU Bank corrected a percent as traders prefer to book profit after more than 2.5 percent rally seen in previous session.

The Indian rupee appreciated 18 paise to trade at 67.94 against the US dollar while Brent crude futures, the international benchmark for oil prices, traded above $79 a barrel.

Buzzing: Shares of Future Retail declined nearly 7 percent on the back of weak set of numbers reported by the company in the quarter ended March 2018.

The company has reported net loss at Rs 463.6 crore in the quarter ended March 2018 against profit of Rs 123 crore in the same quarter last year.

The net loss of Rs 463.6 crore includes non-cash exceptional loss of Rs 604 crore post demerger of retail business undertaking of Hypercity Retail

Revenue of the company increased to Rs 4,574.65 crore from Rs 4,383.84 crore. The operating profit or EBITDA was up at Rs 201.9 crore and margin was at 4.4 percent.

Glenmark submits new drug to USFDA: Glenmark Pharmaceuticals has submitted a New Drug Application (NDA) to the US Food & Drug Administration (FDA) for its leading respiratory pipeline candidate Ryaltris, an investigational fixed-dose combination nasal spray of an antihistamine and a steroid, as a treatment for seasonal allergic rhinitis (SAR) in patients 12 years of age and older.

Ryaltris (olopatadine hydrochloride (665 mcg) and mometasone furoate (25 mcg)), formerly GSP 301 Nasal Spray, has been conditionally accepted by the FDA as the brand name, it said.

Glenmark expects the FDA will determine whether the NDA is complete for filing within 60 days. "If the NDA is accepted, the Prescription Drug User Fee Act (PDUFA) target action date will be assigned at that time. Glenmark has studied Ryaltris in seven clinical trials involving more than 4,000 patients."

Order Win: The Buildings & Factories business of L&T Construction has bagged orders worth Rs 4,033 crore.

Buildings & Factories IC has won a prestigious order from a reputed government client for the design & construction of 1,125 Nos of Residential towers of G+3 floors under PMAY Scheme at Visakhapatnam, Prakasam, Guntur, and Krishna Districts in Andhra Pradesh, to be completed within stringent timelines.

Another order has been secured from a leading cement manufacturer for the construction of cement plants in Odisha and Andhra Pradesh on the design and build model. The business has bagged another turnkey order from a government client in Patna (Bihar) to establish a cancer institute along with the supply, installation and commissioning of medical equipment.

Crude Update: Oil prices rose amid worries that Venezuela's crude output could drop further following a disputed presidential election in the country and with potential sanctions on the OPEC-member.

Brent crude futures were at $79.38 per barrel, up 0.20 percent, from their last close. Brent broke through $80 for the first time since November 2014 last week.

US West Texas Intermediate (WTI) crude futures were at $72.44 a barrel, up 0.28 percent from their previous settlement, reports CNBC.

Market Opening: Benchmark indices started off trade on a flat note, tracking mixed trend seen in Asian stocks.

The 30-share BSE Sensex was up 30.63 points at 34,646.76 and the 50-share NSE Nifty rose 15.30 points to 10,532.

Coal India, ONGC, NTPC and BPCL were early gainers while Bharti Airtel, Lupin, SBI, Bharti Infratel, Grasim, M&M and Hindalco Industries were under pressure.

Nifty Midcap index was down 9 points.

Just Dial, Motilal Oswal, Triveni Engineering, Intellect Design, ACE and Astrazeneca gained up to 5 percent.

Mahanagar Gas, Globus Spirits, Redington, DLF, Future Retail, Hatsun Agro, Jet Airways, Canara Bank, Bank of India, Bank of Baroda and IFCI were down up to 6 percent.

SGX says to list Indian derivatives despite legal move by Indian bourse

In April, SGX said it would list new Indian equity derivative products in June, a move which follows a decision by India's three main bourses to stop licensing their indexes to overseas exchanges.

Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which you can go short on

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 27 points, or 0.26 percent. Nifty futures were trading around 10,515 on the Singaporean Exchange.

Results Today: SBI, IOCL, HPCL, Cipla, Bharat Forge, Dr Reddy Labs, Symphony, Future Consumer, Bata India, Andhra Bank, VIP Industries, KIOCL, Bosch, L&T Technologies, Minda Industries, Sundaram-Clayton, GE-Power, APL Apollo Tubes, Ratnamani Metal, Jamna Auto, CARE rating, Sonata Software, Triveni Turbine, Igarashi Motor, TV Today Network, MBL, Allcargo Logistic, Dhanuka Agritech, Healthcare Global, National Standard, BLS International, Ballarpur Indus, Marathon Nextgen, Capital trust, Salasar Techno, TPL Platech and TVS Srichakra will announce quarterly earnings today.

Stocks in the news: SBI, Cipla, Just Dial, DHFL, Redington India, Future Retail, BoB

Here are the stocks which are in news today: Results Today: SBI, Cipla, Dr Reddy's Laboratories, HPCL, IOC, Sonata Software Dhunseri to buy Egyptian co in joint venture Balaji Telefilms

Earnings Poll: State Bank of India, country’s biggest bank, is likely to post a loss of Rs 1,270.5 crore for the January to March quarter in FY18, pinched by deterioration in asset quality and surge in provisions towards the same.

The loss is projected by a Reuters’ poll in comparison to a net profit of Rs 2,814.82 crore in the same quarter a year ago.

SBI's Q4 financial results for FY18 will be announced post 12 pm on Tuesday and Chairman Rajnish Kumar along with the bank's management will address the media around 2.15 pm.

In the December quarter, SBI had posted a surprise net loss of Rs 2,416 crore after its gross non-performing assets (NPAs) jumped to 10.35 percent of total loans, highest in over 15 years.

For the quarter under review, provisions towards likely losses in its bond portfolio due to rising government bond yields and further additions due to the Reserve Bank of India’s (RBI) revised bad loan framework may hit the lender’s bottomline.

Market Pre-Opening: Benchmark indices were flat in pre-opening, following muted trend seen in Asian stocks.

The 30-share BSE Sensex was up 27.59 points at 34,643.72 and the 50-share NSE Nifty fell 32.20 points to 10,484.50.

Just Dial gained 6 percent while Future Retail, DLF and Mahanagar Gas were under pressure.

US stocks rose on Monday and gains in industrials helped propel the Dow to a more than two-month closing high, after a truce between the United States and China calmed fears that a trade war might be imminent, said a Reuters report.

Asian markets were subdued, shrugging off gains seen on Wall Street as recent US-China trade tensions cooled. The Nikkei 225 tracked lower by 0.08 percent after starting the session with slight gains, it said.