Nifty futures were trading 51 points or 0.32 per cent up at 15,821 on Singaporean Exchange, suggesting a positive opening for BSE Sensex and Nifty 50 on Wednesday
Nifty futures were trading 51 points or 0.32 per cent up at 15,821 on Singaporean Exchange, suggesting a positive opening for BSE Sensex and Nifty 50 on Wednesday. In the previous session, S&P BSE Sensex closed at 52,588 while the Nifty 50 index ended at 15,772. Market participants will track monsoon, graded opening up of the economy and the pick up in COVID-19 vaccination pace. Analysts believe Nifty is still in positive territory. “It’s difficult to make any sustainable move without banking, which is still trading sluggish. We may see further choppiness ahead due to scheduled derivatives expiry and mixed global cues,” Ajit Mishra, VP – Research, Religare Broking Ltd, said.
Stocks in focus
HDFC Bank: HDFC Bank on Tuesday offloaded 19.8 lakh shares of Central Depository Services at average price of Rs 936.4 apiece through a bulk deal on NSE.
Apollo Hospitals Enterprise, HCC: BSE-listed companies such as Asian Hotels (East), Allcargo Logistics, Apollo Hospitals Enterprise, Andrew Yule & Company, Deepak Spinners, Empire Industries, HCC, MBL Infrastructures, Mcleod Russel India, Mercator, Munjal Showa, Precision Wires India, Schneider Electric Infrastructure, Sharon Bio-Medicine, Speciality Restaurants, Technofab Engineering, and V2 Retail will release their January-March quarter earnings on June 23.
IDBI Bank: The department of investment and public asset management (DIPAM) in the finance ministry on Tuesday floated a Request For Proposal (RFP), inviting transaction and legal advisers for strategic disinvestment of IDBI Bank. As per the plan, the government will exit the bank by divesting its entire 45.48% stake worth about Rs 19,000 crore at the current market prices and promoter Life Insurance Corporation will offer to sell a portion of its 49.24% stake with an intent to relinquish management control.
Jaypee Infratech: Jaypee Infratech Ltd posted a consolidated net loss of Rs 491.60 crore for the quarter ended March 2021. The company had reported a net loss of Rs 940.53 crore in the year-ago period, it said in a regulatory filing.
GE Power India: GE Power India on Tuesday posted a nearly 8 per cent increase in consolidated net profit to Rs 16.02 crore for the quarter ended March 2021. The consolidated net profit of the company stood at Rs 14.87 crore in the same quarter of the previous fiscal.
Vodafone Idea: Vodafone Idea on Tuesday said it is offering voice and data benefits for low-income group users to reconnect back, as they resume work amid lockdown relaxation. With the commencement of gradual state-wise unlocking efforts, India’s migrant working population has started returning from their home towns to their work locations, PTI cited company’s statement.
NMDC: NMDC’s PAT for the quarter ended March 31 was 708 per cent higher at Rs 2,838 crore compared to Rs 351 crore during the same period last fiscal. During the fourth quarter of the last fiscal, turnover stood at Rs 6,848 crore compared to Rs 3,187 crore in the same quarter in FY20.
Sobha: Sobha Ltd reported a 65 per cent decline in its consolidated net profit at Rs 17.9 crore for the quarter ended March. Its net profit stood at Rs 50.7 crore in the year-ago period.
Minda Industries: Minda Industries limited announced that it has won bid to acquire of 51% stake in automotive lighting manufacture UZ Chasys LLC (UZ Chasys) in Uzbekistan. Uzbekistan government is moving toward liberalization of the economy and divesting their stake in some of the government-controlled entities. As part of this process, Uzbekistan Government is divesting their 51% stake in UZ Chasys through auction process.