RIL, Bharti Airtel, TCS, Wipro, SBI, PNB Housing, Bharat Electronics, Jaypee Infratech stocks in focus

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June 22, 2021 8:23 AM

Nifty futures were trading 58.50 points or 0.37 per cent up at 15,787 on Singaporean Exchange, suggesting a positive start for BSE Sensex and Nifty 50 on Tuesday

RIL, Bharti Airtel, TCS, Wipro, SBI, PNB Housing, Bharat Electronics, Jaypee Infratech stocks in focusTechnical analysts said that the market once again strongly resisted going below 15,500/51700.

Nifty futures were trading 58.50 points or 0.37 per cent up at 15,787 on Singaporean Exchange, suggesting a positive start for BSE Sensex and Nifty 50 on Tuesday. In the previous session, S&P BSE Sensex jumped 834 points from the day’s low to close at 52,574 while the 50-stock NSE Nifty index closed just shy of the intra-day high of 15,765. Technical analysts said that the market once again strongly resisted going below 15,500/51700. With 15500/51700 levels holding support for second day in a row, the market saw a strong short-covering trend today. “After Friday’s indication, the market has formed a bullish continuation formation today and according to that 15800/52800 will be a big hurdle. However, if indices manage to close above 15800/52800, it could reach 16000/16050 (53400/53500) star. On Tuesday, 15800/52800 and 15650/52400 could be the trading range of the market,” Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities, said.

Stocks in focus

Bharat Electronics, Jaypee Infratech: BSE-listed companies such as NMDC, Ashapura Minechem, Aster DM Healthcare, Bharat Electronics, BL Kashyap and Sons, Gandhi Special Tubes, GE Power India, ITI, Jaypee Infratech, Max India, Omax Autos, Peninsula Land, PNB Gilts, Religare Enterprises, and Sobha, are scheduled to announce their January-March quarter earnings on June 22.

State Bank of India: The country’s largest lender SBI on Monday said its central board has approved a proposal to raise up to Rs 14,000 crore by issuing Basel-III compliant bonds. The bonds are proposed to be raised in Indian or US currency. “The central board of the bank at its meeting held today on June 21, 2021, accorded approval for raising capital by way of issuance of Basel III compliant debt instruments in USD and/or INR during FY22,” SBI said in a regulatory filing.

Bharti Airtel, TCS: Bharti Airtel announced a strategic partnership for implementing 5G networks solutions for India. Tata Group has developed a ‘state of the art’ O-RAN based Radio & NSA/SA Core and has integrated a totally indigenous telecom stack, leveraging the Group capabilities and that of its partners. This will be available for commercial development starting Jan 2022.

Wipro: Wipro has also closed several acquisitions in the second half of FY21 across key markets like the US and Europe, which has helped the Bengaluru-based company strengthen its local presence and service offerings, Wipro CEO Theirry Delaporte said in his note in the company’s FY2020-21 annual report.

Reliance Industries Ltd: With a potential for a 10x growth in pre-tax profit from the business over the next decade, retail including e-commerce will be the next growth engine for RIL, Goldman Sachs said in a report. After growing 5x over FY16-FY20, RIL’s core retail revenue growth has taken a pause in FY21 (April 2020 to March 2021) due to Covid related macro headwinds including lower footfalls.

NTPC: NTPC has doubled its renewable energy target for 2032, and now wants to have 60,000 mega-watt (MW) of wind and solar capacity by the end of the target period. Currently, the installed renewable energy capacity of the company is 1,350 MW and by FY24, it intends to add about another 13,000 MW of green power generation base.

PNB Housing Finance: The Securities Appellate Tribunal (SAT) on Monday allowed PNB Housing Finance to go ahead with the extraordinary general meeting (EGM) scheduled for June 22. The EGM will see shareholders vote on the mortgage player’s Rs 4,000-crore preferential share allotment to private equity player Carlyle and others, including General Atlantic and former HDFC Bank MD&CEO Aditya Puri’s family investment vehicle

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