Investors await Infosys Q4 earnings due later in the day.

9:40 am Company Outlook: Titan told CNBC-TV18 that jewellery business will see 2.5x growth in revenue from FY17 level, by FY23 against FY22 earlier.

The company is also targetted achieving uniform customer price revenue of Rs 50,000 crore by FY23 and Rs 40,000 crore for jewellery business by FY23 with 10 percent market share.

9:32 am Market Outlook: Saion Mukherjee of Nomura said current forecasts for their coverage universe translate into an earnings cut of 6.5 percent to FY18 forecast, implying earnings growth of 3 percent (excluding financials), and flat for the overall universe.

December 2018 Nifty target of 11,380 implies a 9 percent potential upside from current levels.

9:26 am China Trade Surplus: China’s trade surplus with the United States surged 19.4 percent on-year in the first quarter, data showed today, as trade tensions between the world’s two largest economies simmer.

The surplus reached USD 58 billion in January-March, customs bureau spokesman Huang Songping said at a briefing in Beijing. Exports to the US rose 14.8 percent year-on-year, while imports grew 8.9 percent, reports PTI.

9:22 am Acquisition: Reliance Industries said it executed definitive agreements to acquire majority shareholding constituting 72.69 percent (on fully diluted basis) from existing investors of Indiavidual Learning Pvt Ltd (Embibe), a leading AI-based education platform leveraging data analytics to deliver personalized learning outcomes to each student.

9:18 am Sectoral Performance: All sectoral indices are in the green, with the Nifty IT, Metal, Auto, Pharma, Bank and Realty gaining up to 0.7 percent.

9:15 am Market Check: Benchmark indices extended previous day’s gains, following positive lead from Wall Street and macro data, as investors await Infosys Q4 earnings due later in the day.

The 30-share BSE Sensex rose 107.15 points to 34,208.28 and the 50-share NSE Nifty gained 27.70 points at 10,486.40.

Vedanta, Hindalco, Dr Reddy’s Labs, IOC, Kotak Mahindra Bank, TCS, Infosys, HCL Technologies and Axis Bank gained up to 2 percent.

Sun Pharma, IndusInd Bank, HUL and Tata Motors were under pressure.

Opening bell: Asian markets open higher; Infosys result, HUL in focus

source: moneycontrol.com