Stocks in focus: Nazara Tech, Adani Transmission, Manappuram Finance, Coal India, Dr Reddy’s

By: |
March 30, 2021 8:31 AM

Nifty futures were trading 46.50 points or 0.32 per cent higher at 14,797 on Singaporean Exchange, suggesting a gap-up opening of BSE Sensex and NSE's Nifty on Tuesday

sensex, niftyForeign investors have recently turned net sellers of domestic securities. (Image: REUTERS)

Nifty futures were trading 46.50 points or 0.32 per cent higher at 14,797 on Singaporean Exchange, suggesting a gap-up opening of BSE Sensex and NSE’s Nifty on Tuesday. Markets may remain volatile this week, with no major events. Investors would closely watch Brent crude oil movement, rupee trajectory and investment pattern of foreign institutional investors (FIIs). According to an analyst, markets should see some uptick from the first week of April. “If this does not materialize at the start of April then we could see Nifty-50 drifting towards 13,500-13,600 levels,” said Rusmik Oza, Executive Vice President, Head of Fundamental Research at Kotak Securities.

Stocks in focus today:

Nazara Technologies: Nazara Technologies shares will make their stock market debut on Tuesday. This will be the last public issue to be listed on bourses in the financial year 2021. Nazara Technologies is popularly known for its games on the World Cricket Championship, Chhota Bheem and Motu Patlu series.

Adani Transmission: Adani Transmission has signed definitive agreements with Essel Infraprojects Limited (EIL) on 26th March, 2021 for the acquisition of Warora-Kurnool Transmission Ltd. As per the agreement, WKTL will develop, operate, and maintain transmission lines aggregating to 1,750 ckt km.

Manappuram Finance: Manappuram Finance is toying with the idea of hiving off and taking its microfinance arm Asirwad Microfinance public within a year, a top company official said. “We are planning to hive off Asirvad within a year, and then take it public. We are looking at the right valuation. I am looking at a price to book value of 3-4 times, which is 2 times now,” founder and chief executive of Manappuram Finance Group, V P Nandakumar told PTI.

Coal India: Coal India is likely to post marginal contraction of its output for the year 2020-21 by 5-6 million tonne in 2020-21 as its production was well below the 600 million mark, PTI cited sources as saying. Till March 27, the production was 585 million tonne and 11 million tonne is expected to be added in the remaining days of the month.

Dr Reddy’s Laboratories: Dr Reddy’s Laboratories expects the Russian coronavirus vaccine Sputnik V to get approval from the Indian regulator in the next few weeks, PTI quoted a company official. “We expect to get the approval in the next few weeks. It is a two-dose vaccine. You take the first dose on day zero and the second one on day 21. The peak immunity develops somewhere between day 28 to day 42. So, it is a two-dose vaccine and we expect it to be available in the next few weeks,” Deepak Sapra, the company’s CEO, APIs and Services, said.

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