RIL, HDFC Bank, Bharti Airtel, Reliance Home, Coal India, Godrej Prop, Vedanta stocks in focus

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June 21, 2021 8:00 AM

Domestic stock market indices, BSE Sensex and Nifty were staring at a negative start on Monday, as suggested by trends on SGX Nifty in early trade.

RIL, HDFC Bank, Bharti Airtel, Reliance Home, Coal India, Godrej Prop, Vedanta stocks in focusChart patterns suggest indecisiveness between bulls and bears.

Domestic stock market indices, BSE Sensex and Nifty were staring at a negative start on Monday, as suggested by trends on SGX Nifty in early trade. Nifty futures were trading 175.50 points or 1.11 per cent lower at 15,574.50 on Singaporean Exchange. In the previous session, BSE Sensex ended flat at 52,344.45, while the Nifty 50 index settled down at 15,683. Chart patterns suggest indecisiveness between bulls and bears. However, technical analysts believe that in the medium term the texture of the benchmark indices is still bullish and likely to continue in the short run. “The texture of the chart suggests 15400/51800 should be the sacrosanct level for the bulls and as long as its trading above the same, uptrend is likely to continue up to 15800-15900/52600-52850 levels,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.

Stocks in focus

Reliance Industries Ltd: Saudi Aramco chairman and Governor of the Kingdom’s wealth fund Public Investment Fund, Yasir Al-Rumayyan, may be inducted on the board of Reliance Industries Ltd, a precursor to a $15 billion deal, PTI cited reports as saying.

HDFC Bank: HDFC Bank on Saturday said its board has given its approval to buy more than 3.55 crore shares in group firm HDFC ERGO General Insurance Company for over Rs 1,906 crore from the parent company Housing Development Finance Corporation (HDFC). HDFC is the promoter and related party of the bank.

Bharti Airtel, Vodafone Idea: Reliance Jio gained over 79 lakh mobile users in March, Bharti Airtel added 40 lakh subscribers, followed by Vodafone Idea with 11 lakh users and Bharat Sanchar Nigam Ltd with 1.94 lakh.

Reliance Home Finance: Mumbai-based NBFC Authum Investment and Infrastructure has emerged as the highest bidder (H1) for Reliance Home Finance. In a stock exchange filing on Sunday, Authum Investment and Infrastructure confirmed that it has received a letter of intent from lenders for acquiring the troubled home finance company.

Coal India: The resurgence of the Covid-19 pandemic hit demand and production of coal in the month of April 2021, though production grew by 7.8 per cent on-year, mainly due to a low-base effect. When compared with April 2019, coal production fell by 7.9 per cent in April 2021.

Godrej Properties: Godrej Properties has become the country’s largest listed real estate developer in terms of sales bookings during the last fiscal year as it clocked a record pre-sales of Rs 6,725 crore despite the COVID pandemic.

Bank of Maharashtra: State-owned Bank of Maharashtra (BoM) has become top performer among public sector lenders in terms of retail and MSME loan growth during 2020-21.

Vedanta: Vedanta has emerged as successful bidder for a coal block in Odisha which was put for re-bid in the second attempt of auction of blocks for commercial mining.

Info Edge, Oil India: Companies such as Info Edge (India), Oil India, Bharat Dynamics, TCNS Clothing, Jaiprakash Associates, VST Tillers Tractors, MM Holdings, Pearl Global Industries and Rana Sugars, among others will announce their January-March quarter results on June 21.

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