With SGX Nifty down deep in the red on Monday morning, Sensex and Nifty look poised to open with losses once again on Monday.
Dalal Street has remained range-bound for the last few weeks now.
Dalal Street has remained range-bound for the last few weeks now. Nifty faces resistance in the range of 14,700 – 14,850 on the charts, according to technical analysts. Bulls will only be able to regain the momentum once this barrier is broken by the index. In such a scenario, analysts have been advising investors to be stock specific in their trades and avoid aggressive bets. With SGX Nifty down deep in the red on Monday morning, Sensex and Nifty look poised to open with losses once again on Monday.
HDFC Bank: The private lender announced its quarterly results on Saturday and it continues to grow its business and profits. HDFC Bank reported an 18.2% on-year jump in net profit to Rs 8,186 crore. Gross NPAs were 1.32% of gross advances, down from 1.38% reported in the previous quarter.
Macrotech Developers: Stock exchanges will today see the market debut of Macrotech Developers. The IPO of Macrotech Developers raised Rs 2,500 crore earlier this month and was subscribed 1.3 times by investors. This is the first IPO of the current financial year.
Mindtree: The Information Technology firm reported a strong jump in net profit during the January-March quarter of the previous fiscal year. Shares of IT companies have seen a mixed reaction on Dalal Street post their quarterly results so far.
ICICI Lombard: The company reported a 24% jump in net profit during the previous quarter. Investors will react to the firm’s quarterly results today.
Future Retail: Kishore Biyani’s Future Retail could see heightened activity today. Lenders of the company approved a restructuring of the debt of the company under RBI’s resolution framework. As part of the resolution plan, the debt raised through the non-convertible debentures issued by FRL is also part of the existing debt and is proposed to be restructured.
PVR: CRISIL has downgraded PVR’s Long-Term rating from AA to AA- and also the rating of its Non-Convertible Debentures. Amid the pandemic, PVR’s business has a taken a hit.