After ending flat in the previous session, BSE Sensex and Nifty 50 are looking to open in the negative territory on Tuesday.
After ending flat in the previous session, BSE Sensex and Nifty 50 are looking to open in the negative territory on Tuesday. In the previous session, S&P BSE Sensex ended 63 points lower at 48,718 while the Nifty 50 index closed at 14,634. Trends on SGX Nifty were hinting at a gap-down start for the domestic market indices. Technical analysts believe that if Nifty 50 gets past 14,700 level and stay above it, it may move towards the target of 15,100. “If we break 14400, we could slip further to 14100,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
Stocks in focus today
IDBI Bank: The net profit of IDBI Bank for the quarter ended March rose 278% year-on-year (y-o-y) to Rs 512.2 crore on the back of a rise in the net interest income (NII) and a one-time gain of Rs 299.52 crore on account of tax refunds for the assessment years FY1998-1999 to FY2000-2001.
JSW Energy: JSW Energy said on Monday that its subsidiary JSW Renew Energy has signed a power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) for 540 megawatt (MW) of wind-based electricity.
Kotak Mahindra Bank: Kotak Mahindra Bank’s MD and CEO Uday Kotak on Monday said he would be with the bank at least till his term ends. On his succession plans, Kotak said the bank’s board would act in a manner which is appropriate and responsible. Kotak Mahindra Bank on Monday reported a 33% year-on-year (y-o-y) jump in its net profit to Rs 1,682 crore for the quarter ended March because of higher net interest income (NII).
Adani Ports, L&T Infotech: As many as 20 BSE-listed firms including Adani Ports and Special Economic Zone, Alembic Pharmaceuticals, Apollo Pipes, Adani Total Gas, DCM Shriram, EIH Associated Hotels, Greaves Cotton, IIFL Securities, Larsen & Toubro Infotech, Morepen Laboratories, Procter & Gamble Hygiene & Health Care, RBL Bank, Skipper, Suven Life Sciences, and Vikas WSP will release their quarterly earnings on May 4.
Tata Chemicals: Tata Chemicals posted a consolidated profit of Rs 29.26 crore in Jan-Mar quarter of FY21 against Rs 197.56 crore in the corresponding period of the previous year, revenue increased to Rs 2,636.21 crore from Rs 2,378.09 crore on-year.
ICICI Bank: The Reserve Bank of India (RBI) on Monday, imposed a monetary penalty of Rs 3 crore on ICICI Bank. This penalty has been imposed under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) of the Banking Regulation Act, 1949 for shifting certain investments from HTM category to AFS category in May 2017.
L&T Technology Services: L&T Technology Services reported a net profit of Rs 194.5 crore, down 5 per cent from Rs 204.8 crore in the same quarter last year. The revenue from operations stood at Rs 1,440.5 crore as compared to Rs 1,400.7 crore in December quarter.
PowerGrid InvIT IPO: PowerGrid InvIT IPO was subscribed 4.8 times on the final day of bidding. The issue received bids for 205 crore units against 42 crore units on offer for subscription.