SBI's profit can increase three times by FY18,BofAML has maintained buy on SBI

The Nifty opened higher on Wednesday. Nifty fell for more than 2 per cent on Tuesday after hitting 7,800 mark early in the morning. However the silver lining is that foreign investors still remain net buyers of Indian shares as they bought shares worth Rs 423 crore on Tuesday.

Here are the stocks to track in trade today:

1. IndusInd Bank will announce its financial result for the first quarter of fiscal year 2014-15 today. As per analysts polled by NDTV it is expected to report net profit of Rs 415 crore compared to Rs 396.1 crore in the same quarter previous fiscal.

2. Multi Commodity Exchange of India(MCX): Billionaire investor Rakesh Jhunjhunwala bought 10 lakh shares in MCX at Rs 664 per share from its promoter Financial Technologies(India).

3. Tata Motors: Jaguar Land Rover's UK sales increased 8 per cent year-on-year to 5,819 units. Tata Motors gets most of its revenue from JLR.

4. GMR Infrastructure has raised Rs. 1,477 crore through issuing shares at Rs 31.50 per share to qualified institutional investors.

5. Natco Pharma: Delhi High Court did not stop Natco from exporting Copaxone Generic.The Delhi High Court was hearing a petition filed by Teva, which has alleged patent infringement by Natco. Copaxone is Teva's blockbuster drug with sales in the US pegged at $3 billion.

6. Reliance Communications: Kotak has maintained sell on the stock with a target price at Rs 95 per share. The brokerage says there is twin risk to wireless revenue base. The stock continues to discount potential positives, added Kotak.

7. State Bank of India: Bank of America Merrill Lynch (BofAML) has maintained buy on SBI with a target price of Rs 3,450 per share. The brokerage says sweet spot in credit cycle round the corner and SBI is key beneficiary of the credit cycle. The brokerage believes SBI's profit can increase three times by FY18.

8. Dish TV India: Macquarie has maintained outperform on the stock with a target price at Rs 78 per share. The brokerage says price hike will increase the ARPU(Average Revenue Per User) of the company and negative surprise on content cost escalation is behind us.

9. Jaiprakash Associates(JPA): Citi has maintained neutral on the stock with a target price of Rs 81 per share. Citi says JPA's stock rally bakes in a lot of hope and it expects continued weakness in earnings going ahead.

10. Aban Offshore: Macquarie has maintained outperform on the stock with a target price of Rs 1,090 per share. The brokerage says Aban is India's largest offshore drilling firm and the stock is still trading at a cheap valuation of 7.1 times its FY15 earnings per share.