Stocks in focus: Future Retail, Muthoot FinCorp, Maruti Suzuki, AU Small Finance Bank, BPCL, banking stocks

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March 23, 2021 8:12 AM

Domestic equity market benchmarks BSE Sensex and Nifty were set to open in the positive territory on Tuesday, after ending flat in the previous session.

stocks in focus, BPCL, Maruti suzukiA sustainable move above the immediate resistance of 14800 levels is expected to pull Nifty towards the next hurdle of around 15050-15200 levels in the near term, said an analyst

Domestic equity market benchmarks BSE Sensex and Nifty were set to open in the positive territory on Tuesday, after ending flat in the previous session. The Sensex ended at 49,771.29, down 86.95 points, or 0.17 per cent. While the Nifty declined by 7.6 points (0.05 per cent) to close at 14,736.4. The Nifty bouncing back from a gap support 2nd Feb and a false downside violation of trend line support as per daily timeframe chart and a false downside breakout of weekly 10 period EMA at 14400-14600 levels of last week could signal a possibility of an upside bounce in the market, says Nagaraj Shetti, Technical Research Analyst, HDFC Securities. Shetti added that a sustainable move above the immediate resistance of 14800 levels is expected to pull Nifty towards the next hurdle of around 15050-15200 levels in the near term. Immediate support is placed at 14600.

Stocks in focus today:

Future Retail Ltd: Kishore Biyani and his company Future Retail on Monday got relief from the division bench of the Delhi High Court which stayed the last week’s order of its single-judge bench holding them guilty for going ahead with the Rs 24,713-crore deal with Reliance Retail.

Muthoot FinCorp: Gold loan NBFC Muthoot FinCorp on Monday said Crisil has upgraded its rating from ‘A’ (Stable) to ‘A+ (Stable)’. “The rating upgrade by Crisil is very significant in strengthening the confidence of our lenders and retail investors. The upgrade will also enable the company to widen its retail and corporate investor base,” said Thomas John Muthoot, chairman and managing director of Muthoot Pappachan Group.

Bank stocks: The Supreme Court will on Tuesday pronounce verdict on a batch of pleas by various trade associations, including from real estate and power sectors, seeking an extension of loan moratorium and other reliefs in view of the COVID-19 pandemic.

Maruti Suzuki: Maruti Suzuki India Ltd (MSIL) informed that over the past year the cost of company’s vehicles has been impacted adversely due to increase in various input costs. “Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price increase in April, 2021,” the company said in a BSE filing.

AU Small Finance Bank: Nomura India Investment Fund bought 7.5 lakh or 0.24 per cent additional stake in AU Small Finance Bank at Rs 1,214 apiece through a block deal on the BSE. In similar deals, Employees Provident Fund lapped up 2.5 lakh shares at Rs 1,214 per share. While Uttam Tibrewal and Shree Dham Mining Industries LLP offloaded 5 lakh shares, each, at Rs 1,214 apiece.

BPCL: The board of Bharat Petroleum Corporation Ltd (BPCL) has approved the scheme of amalgamation of Bharat Gas Resources Limited (Transferor Company) with the company and their respective shareholders.

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