Stocks to watch: Insurance cos, Hero Moto, MGL, Airtel, Wipro, GCPL, Maruti

At 08:51 am, Nifty futures on the Singapore Exchange (SGX) were trading 77.50 points or 0.77 per cent higher at 10,085.50, indicating a positive start for the domestic market on Wednesday.  

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

General, life insurance stocks: IRDAI on Tuesday withdrew a circular, which asked general insurance companies to provide long-term package covers in the motor segment, offering third-party and own-damage insurance for three and five years to new two wheelers and four wheelers, with effect from August 1, 2020. Besides, for the second consecutive month in 2020-21 (FY21), new business premiums (NBP) of life insurance companies have recorded negative growth owing to Covid-related disruptions.

Hero MotoCorp: The country's largest two-wheeler maker Hero MotoCorp on Tuesday reported a 26.46 per cent decline in consolidated profit after tax (PAT) at Rs 613.81 crore for the fourth quarter ended March 31. Revenue from operations during the quarter under review stood at Rs 6,333.89 crore as against Rs 8,120.73 crore in the same quarter a year ago. 

Earnings today: A total of 24 companies, including Mahanagar Gas (MGL), Shriram Transport Finance, Tanla Solutions, Century Textiles, are scheduled to announce their March quarter numbers.

Bharti Airtel: The telecom major on Tuesday said its Singapore-based Bharti International has bought an additional 6.3 per cent stake in Bangladesh-based Robi Axiata Ltd.

"Bharti International (Singapore), a step-down subsidiary of the company, has acquired additional 6.3 per cent stake in Robi Axiata Limited (an entity in Bangladesh) from NTT DOCOMO and its group entities," Bharti Airtel said in a regulatory filing.

Maruti Suzuki India: The auto major on Tuesday said that owing to the lockdown it had to cut production by 97.54 per cent in May 2020 to 3,714 units. This is against an output of 151,188 cars in the same month last year.

Wipro: Wipro on Tuesday announced an expansion of its global strategic relationship with Amazon Web Services(AWS) in the area of DevOps.

Godrej Consumer Products Managing Director and CEO Vivek Gambhir has resigned from the company. GCPL Chairperson Nisaba Godrej will take up the additional role of MD, effective July 1.

F&O ban: Vodafone Idea, Jindal Steel, Just Dial and NCC, as per reports, are under the F&O ban from June 10.

Team Lease: Net loss of Team Lease Services came in at Rs 28.71 crore for the quarter ended March 2020 as against net profit of Rs 27.15 crore in the year-ago period. Sales rose 12.97 per cent to Rs 1,221.85 crore for the quarter under review. 

Bombay Dyeing on Tuesday reported a 96.1 per cent decline in consolidated net profit at Rs 48.63 crore for the fourth quarter ended March 2020. 

Gujarat Pipavav: Gujarat Pipavav Port (APM Terminals Pipavav) on Tuesday reported a 6.7 per cent decline in net profit at Rs 47.2 crore for the quarter ended March 31, 2020. The port had clocked a net profit of Rs 50.6 crore in the fourth quarter of fiscal 2018-19, it said in a regulatory filing to the BSE.