Stocks to watch: OMCs, SBI Life, YES Bk, Adani Ports, Kansai Nerolac, HDFC

At 08:41 am, Nifty futures on the Singapore Exchange (SGX) were trading 0.30 points lower at 9,208.30, indicating a muted start for the Indian market on Wednesday. 

Here's a look at the stocks that may remain in focus today -

OMCs: Taking a cue from states, the Centre announced one of the steepest hikes in duties on petrol and diesel in the recent past, by raising it by Rs 10 and Rs 13 per litre, respectively, in a notification issued late on Tuesday. Oil marketing companies (OMCs) such as Indian Oil Corporation (IOCL), BPCL, and HPCL. 

SBI Life: SBI Life Insurance Company net profit rose 15.94% to Rs 530.67 crore in Q4 March 2020 as against Rs 457.68 crore in Q4 March 2019. Net premium earned increased by 4.67% to Rs 11,862.98 crore in Q4 March 2020 from Rs 11,333.02 crore in Q4 March 2019. Profit before Tax (PBT) jumped 8.22% to Rs 521.59 crore in Q4 March 2020 over Q4 March 2019.

Earnings today: Six companies including Adani Enterprises, Kansai Nerolac, and YES Bank are scheduled to release their March quarter results later in the day. 

Banks, NBFCs: State Bank of India (SBI) is planning to offer a three-month loan moratorium to non-banking financial companies (NBFCs) and microlenders, according to a news report by business daily Mint.

Adani Ports: Adani Ports and Special Economic Zone Limited (APSEZ) on Tuesday reported 74 per cent decline in consolidated net profit to Rs 340.21 crore for the fourth quarter ended March 31. Its consolidated total income marginally declined to Rs 3,360.17 crore for the fourth quarter as against Rs 3,492.72 crore in the year-ago period.

Persistent Systems: IT firm Persistent Systems on Thursday reported a 4.1 per cent fall in consolidated net profit to Rs 87.9 crore for December 2019 quarter. The company had posted a net profit of Rs 91.7 crore in the year-ago period, Persistent Systems said in a regulatory filing.

HDFC: As per news reports, the company plans to raise as much as Rs 8,000 crore to bolster its capital buffers and prepare for future uncertainties amid disruptions from the Covid-19 outbreak. 

Tata Coffee: Net profit of Tata Coffee declined 6.01% to Rs 9.86 crore in the quarter ended March 2020 as against Rs 10.49 crore during the previous quarter ended March 2019. Sales rose 12.21% to Rs 516.74 crore during the quarter under review. 

NIIT Tech: IT company NIIT Technologies on Tuesday reported a 11.4 per cent rise in consolidated net profit to Rs 113.6 crore for the March 2020 quarter, and said strong tech capabilities and sharp execution helped the company in winning large deals.

Wipro: IT services major Wipro on Tuesday said it will repurpose one of its offices in Pune into a 450-bed intermediary care Covid-19 hospital. The process will be completed in four weeks and the IT firm will hand over the facility to the Maharashtra government by May 30.

RIL: The company, in an exchange filing, said that it has elected to redeem, in whole, all outstanding Notes on the Redemption Date ( June 5, 2020) in an aggregate principal amount of US$200,000,000.

United Spirits: The Company has resumed operations at majority of its manufacturing facilities with reduced capacity.

Rallis India: Agriculture solutions firm Rallis India on Tuesday reported a decline of 49.62 per cent in its consolidated net profit at Rs 0.68 crore for the quarter ended March of 2019-20.