Sensex and Nifty are expected to open in the red on Friday after staging a strong 700 point recovery the previous day.
Sensex and Nifty are expected to open in the red on Friday after staging a strong 700 point recovery the previous day. Global cues are mixed as stock markets across the globe dance between gains and losses. While TOPIX was down 0.34%, Nikkei 225 was seen gaining 0.14%. “We expect the markets to remain volatile as investors would track global cues and development around India-China border issues. Technically, an immediate support for Nifty is placed at 9950-9900 zones and we may see an up move towards the 10200 and 10300 zone,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services. Here are the stocks that are likely to remain in focus.
Reliance Industries Ltd – The Mukesh Ambani led oil-to-telecom conglomerate bagged yet another cheque since it began luring in investors in April this year. This time the investment comes from the Saudi wealth fund or the The Public Investment Fund (PIF). PIF will be picking up 2.32% equity stake in Jio Platforms for Rs 11,367 crore.
Tata Motors – Auto giant Tata Motors was downgraded by credit rating agency Moody’s Investors Service. Moody’s on Thursday changed Tata Motor’s corporate family rating and senior unsecured instruments rating to B1 from BA3. Outlook has also been changed to negative.
Cipla – The pharma company has expanded its partnership with Roche Pharmaceuticals to improve access to oncology medicine in the country.
MOIL – A sharp 90% fall in consolidated net profits of the firm is likely to keep investors on the edge on Friday. MOIL reported a net profit of Rs 13.47 crore in the January-March quarter as income dropped significantly.
Future Group – The Kishore Biyani led firm is said to be in talks with Reliance Industries to sell stakes in Future Retail and some other units. Kishore Biyani had defaulted on loan payments in March and any deal would come as a breather for him.