Stocks in focus: RIL, IRCTC, Nestle India, Bandhan Bank among stocks to remain in action today

Foreign institutional investors (FIIs) bought shares worth Rs 534.87 crore, while domestic institutional investors (DIIs) sold shares worth Rs 821.6 crore on Tuesday

The Nifty futures were trading at 9,159.30 on the Singaporean Exchange, suggesting a cautious start for the BSE Sensex and Nifty 50 index on Monday. Foreign institutional investors (FIIs) bought shares worth Rs 534.87 crore, while domestic institutional investors (DIIs) sold shares worth Rs 821.6 crore on Tuesday, according to the data available on the NSE. “Today, Nifty will open with a cut of half per cent on the back of weak global cues. In the last couple of attempts, Nifty face resistance around 9400 now it is moving towards the lower side of the range 9100-9050. Banking and NBFC may face resistance on a consistent basis until their uncertainty persists in the economy,” Vishal Wagh, Head of Research, Bonanza Portfolio Ltd, said.

These stocks may remain in limelight in today’s trade

Reliance Industries: The Saudi sovereign wealth fund and General Atlantic are among firms exploring investments in billionaire Mukesh Ambani’s digital business, as Asia’s richest man seeks to expand his operations outside oil and petrochemicals, people with knowledge of the matter said. Saudi Arabia’s $320 billion Public Investment Fund is considering buying a minority stake in Reliance Industries Ltd.’s Jio Platforms unit, according to the people, who asked not to be identified as the information is private, Bloomberg reported.

IRCTC: Ministry of Railways announced that Indian Railways will gradually resume operations of passenger trains from May 12. Passenger train operations will resume initially with 15 pairs of trains. On Monday IRCTC site crashed due to heavy rush for ticket booking.

Wockhardt: Wockhardt on Monday reported a consolidated net profit of Rs 68.51 crore for the quarter ended on March 31, 2020. The company had posted a net loss of Rs 13.90 crore for the corresponding period of previous fiscal, Wockhardt said in a BSE filing.

InterGlobe Aviation: Company has clarified that it has not formulated any indicative proposal or shown interest in Virgin Australia. The Australian Financial Review on Monday reported that the company was putting together a proposal to bid for the bankrupt airline.

Bajaj Auto: Bajaj Auto said has started the reopening of dealerships and service centres in various parts of India following the relaxation in guidelines by the Central and State governments till May 17. The reopening began on May 4, 2020, with the dealerships taking permission from the respective local authorities.

Bandhan Bank, Nestle India: Havells, IndiaMart, Syngene, Bandhan Bank and Nestle India are among 11 companies which are scheduled to announce their March quarter earnings on Tuesday.