Bharti Airtel, SBI, Coal India, Aurobindo Pharma, Glenmark Pharma, BoB stocks in focus

Trends on SGX Nifty suggest a gap-down start for the BSE Sensex and Nifty 50 with drop of 56 points or 0.36 per cent.

Bharti Airtel, SBI, Coal India, Aurobindo Pharma, Glenmark Pharma, BoB stocks in focus
The three accounts frozen by the NSDL included Albula Investment Fund, Cresta Fund, and APMS Investment Fund.

Trends on SGX Nifty suggest a gap-down start for the BSE Sensex and Nifty 50 with drop of 56 points or 0.36 per cent. The Nifty futures were trading at 15,436.50 on the Singaporean Exchange. Today, all eyes eyes would be on GDP growth data for January-March quarter of FY21. Besides, movement of the rupee against US dollar, brent crude oil prices and foreign institutional investors investment trends would also be looked at by market investors for further direction. According to technical analysts, the short term trend of Nifty continues to be positive. “Having, moved above the resistance at 15430, one may expect further upside in the coming sessions. The next upside targets to be watched around 15800 (pattern target of broader high low range breakout at 15000-14200 levels and this could be achieved in the next one week. Immediate support is now placed at 15350-15300 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

Stocks in focus

Aurobindo Pharma, Honeywell Automation India: BSE-listed companies such as Chemcon Speciality Chemicals, Aurobindo Pharma, Honeywell Automation India, Jamna Auto Industries, JBF Industries, Kolte-Patil Developers, Lloyds Steels Industries, Magma Fincorp, Man Industries, Marksans Pharma, Narayana Hrudayalaya, Prakash Industries, Rupa & Company, Shilpa Medicare, Uttam Galva Steels, Vascon Engineers, and Venus Remedies, among others will release their Jan-Mar quarter earnings on May 31.

State Bank of India: SBI’s chairman Dinesh Kumar Khara on Sunday said that as per preliminary assessment, the bank should be able to build a book of Rs 2,000 crore through expanded emergency credit line guarantee scheme (ECLGS). Khara made this comment at a joint press conference of SBI and Indian Bank’s Association (IBA) to launch standardised Covid loan products by public sector banks.

Bharti Airtel: Bharti Airtel on Sunday said it has upgraded its mobile network in North East by adding 10 Mhz spectrum in the 2300 Mhz band for offering the best experience to its customers. The new addition will enable improved network availability and data speed as more and more people access high speed data services from their smart devices, the company said in a statement.

Coal India: Coal India is likely to report dry fuel production of around 41.7 million tonnes and offtake of nearly 55 million tonnes this month as against production of 41.43 million tonnes and sales of 40 million tonnes in the corresponding period last year, the official said.

Glenmark Pharmaceuticals: Glenmark Pharma has reported a 6.15 per cent rise in its consolidated net profit to Rs 233.87 crore for the quarter ended March 2021 on account of higher sales.The company had posted a net profit of Rs 220.30 crore in the corresponding period of the previous fiscal.

Bank of Baroda: Bank of Baroda reported a net loss of Rs 1,047 crore in the March quarter (Q4FY21) due to one-time hit of Rs 3,837 crore taken by the lender on account of deferred tax asset (DTA) reversal.

Macrotech Developers: The realty firm has formed two joint ventures to build projects with sales value of Rs 1,500 crore and is looking for more such partnerships to grow business. Macrotech Developer, earlier known as Lodha Developers, got listed on the stock exchange last month after successful launch of its Rs 2,500-crore initial public offering (IPO).

Dhanlaxmi Bank: Dhanlaxmi Bank on Saturday reported that bad loans have increased significantly in the fourth quarter of FY21, with gross NPA ratio touching 9.23% as against 5.90% in the year-ago period.

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