Pre-Market: Bharti Airtel, Adani Enterprises, HDFC in focus

Markets are likely to start the session on a flat-to negative note mirroring mixed global cues. However, stock specific action is likely to be seen on the bourses as the earning’s season continues.

Meanwhile, movement of rupee and crude coupled with Parliament proceedings is likely to dictate the trend.

Markets snapped the 4-day winning streak yesterday on the back of RBI’s move to keep its repo rate unchanged at 7.25 per cent in its monetary policy review amid profit booking.

STOCKS IN LIMELIGHT

Bharti Airtel  posted a 40% rise in quarterly net profit at Rs 1,554 crore from Rs 1,108 crore a year ago. 

Torrent Power reported a consolidated net profit for the first quarter ended June 30, 2015-16 at Rs 173.48 crore. 

HDFCis likely to raise roughly Rs 5,000 crore through a structured quasi-debt offer to domestic institutions soon. 

JK Tyre may enter two- and three-wheeler segments in order to further consolidate its position in the tyre segment. It posted over twofold rise in its consolidated net profit at Rs 118 crore for the first quarter ended June 30, manufactures radial and bias tyres for truck, buses and passenger vehicles. 

Adani Enterprises is in talks with Foxconn to form a manufacturing joint venture (JV) but no agreement had been signed as yet. 

DLF is seeking shareholders' approval to create charge, lien or pledge on its over 50% shares in three subsidiaries, which holds rental commercial assets, for raising up to Rs 7,500 crore.

The government may sell 3% stake in state-owned gas utility GAIL India which could garner over Rs 1,300 crore to the exchequer.

Public sector bank Oriental Bank of Commerce (OBC) reduced deposit rates for select maturities.

Bata India, Emami, Canara Bank are likely to announce their quarterly results today.

GLOBAL MARKET

Asian markets are trading mixed mood on Wednesday as the mounting risks of a hike in US interest rates as early as next month lifted the dollar and bond yields, pressuring currencies across the region. Losses on Wall Street had been modest with the Dow .DJI ending 0.27% lower while the S&P 500 eased 0.22% and the Nasdaq lost 0.19%.