India Pesticides, ONGC, JK Cement, Vodafone Idea, Bharti Airtel, NTPC, RIL stocks in focus

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July 05, 2021 7:55 AM

Nifty futures were trading 100.50 points or 0.64 per cent higher at 15,848.50 on Singaporean Exchange, suggesting a positive start for BSE Sensex and Nifty 50.

India Pesticides, ONGC, JK Cement, Vodafone Idea, Airtel, NTPC, RIL stocks in focusConfirmation of bullish reversal by the way of follow-through upmove is likely to open further upside towards 15900 levels again in the near term, said an analyst.

Nifty futures were trading 100.50 points or 0.64 per cent higher at 15,848.50 on Singaporean Exchange, suggesting a positive start for BSE Sensex and Nifty 50. In the previous session, headline indices halted the four-day losing streak to end higher. BSE Sensex closed up at 52,484 while the 50-stock NSE Nifty close at 15,722. Analysts say the bulls seems to have come back gradually from the lower support on Friday. “Confirmation of bullish reversal by the way of follow-through upmove is likely to open further upside towards 15900 levels again in the near term. Immediate support is placed at 15650 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

Stocks in focus

India Pesticides: Agrochemical firm India Pesticides is all set to make stock market debut on Monday. The Rs 800-crore IPO was subscribed over 29 times. It was opened for subscription between 23-25 June 2021.

ONGC: Oil and Natural Gas Corporation (ONGC) on Sunday said it will procure equipment and services worth over Rs 30,000 crore to support its oil and gas exploration and production operations, which will provide local entities business and support ‘Aatmanirbhar Bharat’ initiative.

JK Cement: JK Cement Ltd, part of J.K. Organisation, targets up to 10 per cent growth in its revenue this fiscal, helped by the government’s push for infrastructure, a good monsoon and pent-up demand for the sector, PTI quoted a top company official as saying.

Vodafone Idea: Vodafone Idea can raise funds through equity sale or promoters can infuse capital which can be used for clearing dues, non-profit entity Telecom Watchdog said in a letter to telecom minister while demanding rejection of the debt-ridden company’s request seeking more time to pay dues of Rs 8,292 crore.

Bharti Airtel: In an interaction with FE, Bharti Group chairman Sunil Mittal said such spectrum has not been auctioned anywhere in the world as it is required only at select places unlike terrestrial airwaves which are needed everywhere. Although Jio and Vodafone Idea have batted for auction of this spectrum, in their response to a consultation paper floated by Trai, Bharti had maintained silence on the subject.

NTPC: State-run NTPC is planning to float the initial public offering (IPO) of its recently-formed renewable energy subsidiary in “one-and-a-half to two years”, a senior company executive said. The company is considering to spin off the subsidiary, which will raise funds to execute a plan to create 60 giga-watt (GW) green capacity, double the level planned earlier, by 2032.

Reliance Industries Ltd: Mukesh Ambani’s Reliance Jio has launched ‘Emergency Data Loan’ facility offering its phone users instant-data on loan, which they can pay later. Jio, India’s youngest but largest telecom operator, understands that not every user is in a position to instantly purchase a data top up due to various reasons, PTI quoted sources as saying.

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