RIL, Shyam Metalics, Sona BLW, Infosys, Jaypee Infratech, ONGC, PNB, Piramal Enterprises stocks in focus

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June 24, 2021 8:01 AM

Nifty futures were trading 19.50 points or 0.12 per cent up at 15,715 on Singaporean Exchange, suggesting a gap-up start for BSE Sensex and Nifty 50 on Thursday, a day of weekly futures & option (F&O) expiry.

RIL, Shyam Metalics, Sona BLW, Infosys, Jaypee Infratech, ONGC, PNB, Piramal Enterprises stocks in focusAnalysts expect high volatility in domestc markets on the back of scheduled monthly expiry of the June month contracts and RIL AGM.

Nifty futures were trading 19.50 points or 0.12 per cent up at 15,715 on Singaporean Exchange, suggesting a gap-up start for BSE Sensex and Nifty 50 on Thursday, a day of weekly futures & option (F&O) expiry. In the previous session, Sensex ended in red at 52,306 while the 50-stock NSE Nifty settled at 15,686. Today, the major trigger for markets is annual general meeting of Reliance Industries Ltd (RIL). Analysts expect high volatility in domestic markets on the back of scheduled monthly expiry of the June month contracts and RIL AGM. “We’re currently seeing a time-wise correction in the market and it’s likely to end soon. We reiterate our advice to continue with the “buy on dips” approach until we see some sign of exhaustion or trend reversal,” Ajit Mishra, VP – Research, Religare Broking Ltd, said.

Stocks in focus

Reliance Industries Ltd: On Thursday, RIL will hold its 44th AGM virtually at 2 PM through Video Conferencing (VC) / Other Audio-Visual Means (OAVM). Mukesh Ambani-led oil-to-telecom conglomerate said it will send its annual report FY21, notice of the AGM and the standalone and consolidated audited financial statements for FY21, along with the Board’s report, auditors’ report and other documents in electronic mode to the members of the company. RIL share price is expected to see major movement. Last year, on AGM day RIL stock fell 3.71 per cent while in 2019, it soared 9.72 per cent.

Jaypee Infratech: Mumbai-based Suraksha Group on Wednesday received the approval of the committee of creditors (CoC) to take over bankrupt real estate firm Jaypee Infratech (JIL), with more than 98% of votes in favour of its resolution plan. The other contender, state-owned NBCC, lost the race by 0.12% votes.

Punjab National Bank: The Enforcement Directorate (ED) on Wednesday said it had transferred to public-sector banks and the Central government assets worth `9,371 crore belonging to fugitive economic offenders Vijay Mallya, Nirav Modi and Mehul Choksi. Meanwhile, Nirav Modi has lost the first stage of his extradition appeal in the London high court, just over two months after his extradition to India was ordered by UK home secretary Priti Patel in the PNB scam case.

Piramal Enterprises: Piramal Enterprises on Wednesday said its subsidiary, Piramal Pharma, has completed the acquisition of Hemmo Pharmaceuticals. “Piramal Pharma Ltd has completed the acquisition of Hemmo,” Piramal Enterprises said in a regulatory filing.

Shyam Metalics, Sona BLW: Shyam Metalics and Energy, and Sona BLW Precision Forgings (Sona Comstar) will make stock market debut on June 24. Analysts expect Shyam Metalics to open with strong listing gains as its IPO gained strong response from the investors. While Sona Comstar may see moderate gains over the IPO price.

Infosys: Infosys’ Rs 9,200-crore buyback plan is scheduled to begin from June 25,2021. The IT bellwether has proposed to buy back shares at a maximum price of Rs 1,750 apiece. The Board approval for the buyback was granted on April 14, 2021, and the shareholders’ nod was received on June 19, 2021, at the company’s 40th annual general meeting.

ONGC, MIDHANI: BSE-listed companies such as Oil and Natural Gas Corporation, Ashok Leyland, Mishra Dhatu Nigam, PTC India, Nirlon, West Coast Paper Mills, Bodal Chemicals, Everest Kanto Cylinders, Take Solutions, Nath Bio-Genes (India) and Arman Financial Services, among others are scheduled to announce their January-March quarter results on June 24.

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