Pre-Market: Stocks to watch in trade on Tuesday

Here are a few stocks that are likely to be in focus today:

Cairn India may be in focus as the company has reportedly demanded a change in the pricing formula for crude oil from its prolific Rajasthan block.

Suzlon may see action on reports that it will supply 47 turbines, each of 2.1 MW capacity, for Mytrah Energy's 98.7 MW wind project in Telangana.

Bharti Airtel may be on the trader's radar as it is in advanced talks to buy out Augere Wireless Broadband India for about Rs 150 crore to consolidate its 4G high-speed broadband footprint ahead of Reliance Jio Infocomm's launch, according to reports.

According to media reports, private equity majors Bain Capital and Baring Asia are vying for a sizable minority stake in L&T Finance Holdings as the listed financial services arm of L&T aims to raise up to $500 million (Rs 3,200 crore).

GlaxoSmithKline Pharmaceuticals reported a 6.5% increase in standalone net profit at Rs 102.85 crore for the quarter ended March 31, 2015.

JBM Auto reported a 15.23% decline in net profit at Rs 17.58 crore for the fourth quarter ended March 31.

Indo Rama Synthetics reported over 2.5 times jump in its standalone net profit at Rs 42.36 crore for the quarter ended March 31 on increased margins due to falling crude oil prices.

MARKET COMMENTARY

The markets are likely to open flat on Tuesday following mixed trend across other Asian markets.

The Sensex had soared by 363 points or 1.3% at 27,687 and the Nifty had zoomed by 111 points to settle above the crucial 8,350 mark at 8,373 in the previous session on anticipation that RBI may slash the key policy rate in the upcoming monetary policy review on June 2, 2015 and the possibility of a normal monsoon.

One would have to see if the Nifty retests the crucial psychological level of 8,350 in early trade. The market participants would also keep an eye on the progress of the monsoons as according to the private weather forecasting agency Skymet, the southwest monsoon arrived over the Andaman and Nicobar Islands on Saturday, almost four days before its scheduled arrival date of May 20, and might hit the Kerala coast in the next 8-10 days.

In corporate results, Tata Power and Colgate Palmolive are set to declare their March quarter numbers during the day.

GLOBAL MARKETS

Asian stocks are trading mixed today. The key indices in South Korea, Japan, Indonesia and Taiwan have edged higher by 0.2% to 0.8%, while the Chinese, Hong Kong and Singaporean markets are trading marginally in the red.

Wall Street had closed mostly higher overnight, with the S&P 500 index setting a record for the second straight session. The Dow rose 26.32 points, or 0.1% to end at 18,298 and the S&P 500 rose 6.47 points to end at 2,129.