RIL, Infosys, TCS, GAIL, Alok Industries, ZEEL, Adani Green, Federal Bank, Srei Infra Finance stocks in focus

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October 05, 2021 8:46 AM

Domestic cues remain positive as economic activities gain further momentum, but the elevated valuations along with multiple global concerns would keep markets volatile, said an analyst.

Sensex, Nifty, bse, nseRBI monetary policy and TCS third quarter results due on 8th October (Friday) are the two key events which will be widely tracked.

Nifty futures were trading 115 points or 0.65 per cent down at 17,595.50 on Singaporean Exchange, indicating a sell-off in BSE Sensex and Nifty 50 on Tuesday. Domestic cues remain positive as economic activities gain further momentum, but the elevated valuations along with multiple global concerns would keep markets volatile, said an analyst. RBI monetary policy and TCS second-quarter results due on 8th October (Friday) are the two key events which will be widely tracked. “RBI is expected to maintain its policy rates but it may lay the roadmap for stimulus tapering in line with other central banks. TCS would mark the start of Q3FY22 earnings season which is expected to continue the strong earnings momentum,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, said.

Stocks to watch

GAIL, Alok Industries, RIL: The National Company Law Appellate Tribunal (NCLAT) on Monday dismissed GAIL India’s plea challenging the NCLT’s March 8, 2019 order that approved the insolvency resolution plan of Alok Industries, which has now been taken over by a consortium of Reliance Industries and JM Financial Asset Reconstruction.

ZEEL: Invesco Developing Markets Funds on Monday reiterated its demand before the Mumbai bench of the National Company Law Tribunal that Zee Entertainment Enterprises (ZEEL) should convene an extraordinary general meeting (EGM), which should be chaired by a retired high court judge.

Srei Infrastructure Finance, Srei Equipment Finance: The Reserve Bank of India (RBI) on Monday said that it has superseded the boards of Kolkata-based non-banking financial companies (NBFCs) Srei Infrastructure Finance and Srei Equipment Finance. The two companies will now be referred for insolvency proceedings in the second such instance after Dewan Housing Finance (DHFL).

Adani Green Energy: AGEL, the renewable energy arm of the Adani Group, said on Monday that it has completed the acquisition of SB Energy India, which houses 4,954 megawatt (MW) of renewable energy projects across the country for around Rs 26,000 crore ($3.5 billion).

Federal Bank: Federal Bank’s deposits and advances grew by 10 % year-on-year (y-o-y) during the second quarter of the current fiscal, the bank said in a regulatory filing.

Infosys: The IT bellwether, Infosys, will announce its second-quarter earnings for FY22, which ended September 2021 on October 13.

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