Stocks in focus: RIL, Bharti Airtel, Maruti Suzuki, Coal India to remain in action today

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Published: May 18, 2020 8:55 AM

GSK Pharma, Delta Corp, Bharti Airtel, Gujarat Themis Biosyn, Dr Lal PathLabs, Torrent Pharma are among 14 companies which are scheduled to announce their March quarter results later in the day today

RIL, Bharat Airtel, maruti suzuki, stocks in focusFIIs sold shares worth Rs 2,388.04 crore, while DIIs too, sold shares of worth Rs 1,225.53 crore on Friday

The Nifty futures were trading at 9,090 on the Singaporean Exchange, suggesting a tepid start for the Sensex and Nifty on Monday. The fourth phase of lockdown has kicked in from today with more relaxation to facilitate economic activity. Foreign institutional investors (FIIs) sold shares worth Rs 2,388.04 crore, while domestic institutional investors (DIIs), too, sold shares of worth Rs 1,225.53 crore on Friday, according to the provisional data available on the NSE. “Indications are pointing towards consolidation in the Nifty index wherein 8950 would act as a crucial support and 9300-9500 zone as hurdles. Amid all, we advise continuing with the stock-specific trading approach and suggest maintaining positions on both sides,” said Ajit Mishra, VP – Research, Religare Broking Ltd.

These stocks to remain in news

Bharti Airtel, Torrent Pharma: GlaxoSmithKline Pharmaceuticals (GSK Pharma), Delta Corp, Bharti Airtel, Gujarat Themis Biosyn, Dr Lal PathLabs, Torrent Pharma are among 14 companies which are scheduled to announce their March quarter results later in the day today.

Reliance Industries: General Atlantic (GA) will invest Rs 6,598.38 crore in Reliance Industries and Jio Platforms in exchange for a 1.34 per cent stake in the company on a fully diluted basis. GA’s round values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, the company said on Sunday in a statement.

Maruti Suzuki: Maruti Suzuki is set to resume operations at its manufacturing facility at Gurugrama plant today. “Maruti Suzuki would restart production of vehicles at Gurugram plant on 18th May. All activities will be carried out strictly in accordance with the government regulations and guidelines”, the company said in a BSE filing.

Coal India: Finance Minister in her fourth tranche of announcements of Rs 20 lakh crore special economic package announced to end the government’s monopoly on coal by allowing commercial mining. FM Sitharaman removed the regime of fixed rupee/tonne pricing of coal and has offered to immediately auction nearly 50 blocks.

Defence sector stocks: Larsen & Toubro, Bharat Forge and Bharat Electronics will remain in focus as Finance Minister Nirmala Sitharaman announced to raise the Foreign Direct Investment (FDI) limit in the defence sector under the automatic route from 49 per cent to 74 per cent. This is likely to lead to an uptick in stock prices of some companies.

Banking stocks: FM Sitharaman announced to extend the initiation period of fresh insolvency proceedings against MSMEs by six months to up to one year depending upon the COVID-19 situation. Coronavirus related debt would be excluded from the ‘default’ category under the Code to further enhance ease of doing business. The minister added that the minimum threshold to initiate insolvency proceedings against MSMEs has been raised from Rs 1 lakh to Rs 1 crore.

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