Kotak Mahindra Bank, Tata Steel, Adani Power, Tata Steel, Dabur, TVS Motor stocks in focus on F&O expiry

BSE Sensex and Nifty 50 were staring at a gap-up start on Thursday, a day of weekly F&O expiry.

Stocks in focus,
The Reserve Bank has created a stir in the Indian markets by suddenly increasing interest rates. Image: Pixabay

BSE Sensex and Nifty 50 were staring at a gap-up start on Thursday, a day of weekly F&O expiry. Nifty futures were ruling 156.50 points or 0.94 per cent up at 16845.50 on Singaporean Exchange. In the previous session, benchmark indices tanked over 2 per cent after Reserve Bank of India (RBI) hiked repo rate, CRR. BSE Sensex was down 1,306.96 points or 2.29% at 55,669.03, and the NSE Nifty 50 was down 391.50 points or 2.29% at 16,677.60. The Reserve Bank has created a stir in the Indian markets by suddenly increasing interest rates. “The market closed below the crucial level of 16800 on the back of a negative result, which would push the market further down to 16400/16200 in the near term. On the upside, 16800/16900 would act as the biggest hurdle. Reducing weak long positions is advisable near the 16800 levels and contra buying is recommended only around 16200 and below,” Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities, said.

Stocks to watch

Tata Steel: Rising steel prices and firm demand may prompt Tata Steel to advance its stated capacity expansion target by a few years, CEO and managing director TV Narendran told FE on Wednesday.

Tata Consumer Products: Tata Consumer Products (TCPL) on Wednesday reported an over three-fold jump in its consolidated net profit at Rs 239.05 crore for the quarter ended March 31, 2022.

Kotak Mahindra Bank: Kotak Mahindra Bank reported a net profit of Rs 2,767 crore in the March quarter of FY22, up 64.5% year-on-year (y-o-y), on the back of strong growth in loans and net interest income (NII), and provision write-backs.

Adani Total Gas: Adani Total Gas reported a 47.5 per cent drop in its fourth-quarter net profit after it used expensive imported LNG to meet a spurt in demand for CNG and piped cooking gas.

Adani Power, Dabur India, TVS Motor Company: BSE-listed companies such as Adani Power, Adani Transmission, Dabur India, Marico, Exide Industries, Happiest Minds Technologies, Indus Towers, TVS Motor Company, Voltas, AAVAS Financiers, Blue Star, Aptus Value Housing Finance India, Blue Dart Express, Borosil Renewables, Computer Age Management Services, CEAT, Cholamandalam Investment and Finance Company, DCM Shriram, Firstsource Solutions, Intellect Design Arena, Jindal Stainless (Hisar), MMTC, Punjab Alkalies & Chemicals, Procter & Gamble Health, PNB Gilts, Quick Heal Technologies, Sona BLW Precision Forgings, and Tribhovandas Bhimji Zaveri will release quarterly earnings on May 5.

Tata Power: The state-run SJVN awarded the contract to build a 1,000 MW solar power project in Bikaner, Rajasthan, to Tata Power Solar Systems.

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