Nifty futures were trading flat at 15,305 in early trade on Singaporean Exchange, suggesting a cautious opening for BSE Sensex and Nifty 50 on Thursday. Market participants may witness volatility on a day of futures and options expiry of the May series. Besides, investors will take cues from COVID-19 cases, ongoing vaccination drive, oil prices, rupee movement and other global cues. In the previous session, Nifty closed at the highest since February 16, 2021. It also closed at almost the day’s high accompanied by a strongly positive advance-decline ratio. “15336-15432 is the next resistance band for the Nifty while 15211-15256 is the support band for the near term,” said Deepak Jasani, Head of Retail Research, HDFC Securities.
Stocks in focus today
Eicher Motors, Sun Pharma: Cadila Healthcare, Eicher Motors, Sun Pharmaceutical Industries, IRB Infrastructure Developers, Everest Industries, Fine Organic Industries, India Grid Trust, Infibeam Avenues, India Infrastructure Trust, Kalyan Jewellers, Metropolis Healthcare, PC Jeweller, The Phoenix Mills, Rashtriya Chemicals & Fertilizers, Redington (India), Suryoday Small Finance Bank, and UCO Bank among other will announce their January-March quarter earnings on May 27.
Bharat Petroleum: BPCL on Wednesday reported a net profit of Rs 17,319.8 crore on a consolidated basis for the fiscal ended March 31, 372.5% higher than the profit posted a year ago. This is the highest annual profit reported by the oil refining and marketing company.
PNB Housing Finance: The board of PNB Housing Finance will meet on May 31 to consider fund-raising. The fund-raising by the non-bank lender was long pending after it had announced to raise Rs 1,800 crore through a preferential or rights issue in November 2020.
Manappuram Finance: Manappuram Finance reported a 17.62 per cent on-year rise in its consolidated net profit to Rs 468.35 crore for the fourth quarter of FY21. The company had reported a standalone net profit of Rs 457.95 crore for the fourth quarter of last fiscal.
Tata Consultancy Services: TCS announced that it has partnered with LACChain, an initiative led by IDB Lab, the innovation laboratory of the Inter-American Development Bank Group, to drive the development of a blockchain ecosystem across Latin America and the Caribbean.
Burger King India: Burger King India reported loss at Rs 25.94 crore in Q4FY21 against Rs 37.41 crore in Q4FY20. Its total income during January-March 2021 stood at Rs 199.45 crore, against Rs 192.95 crore in the year-ago period.
Pfizer: The company reported revenue from operations for the quarter ended March 31, 2021 at Rs 535 crore as compared to Rs 502 crore in the same period last year, a growth of 6.5 per cent. Revenue from operations for the year ended March 31, 2021 is Rs 2,239 crore as compared to Rs 2,152 crore in the same period last year, showing a 4 per cent growth