Nifty futures were trading 33.50 points or 0.21 per cent up at 15,821 on Singaporean Exchange, suggesting a gap-up opening for BSE Sensex and Nifty 50 on Wednesday. A host of factors such as Q4 results, stock-specific actions, crude oil prices, rupee movement against US dollar, foreign fund inflow and other global cues will set direction for markets today. Chartists say that the short-term trend of Nifty seems to be weak with choppy movement. “The absence of sharp selling interest from the new highs in the last couple of sessions could signal chances of halting of this decline and emergence of upside bounce in the next 1-2 sessions. Important supports to be watched around 15670-15600 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.
Stocks in focus
Vodafone Idea, SpiceJet: More than 900 BSE-listed companies including SpiceJet, Vodafone Idea, Binani Industries, Dish TV India, Emami Realty, IRCON International, Liberty Shoes, Sadbhav Engineering, Simbhaoli Sugars, Simplex Infrastructures, SREI Infrastructure Finance, and Zodiac Clothing, will announce January-March quarter earnings on June 30.
Reliance Industries Ltd: Mukesh Ambani-led RIL has announced a joint venture with Abu Dhabi National Oil Company (Adnoc) to build a petrochemical production facility in Abu Dhabi. The two companies will construct an integrated plant, with capacity to produce 940 thousand tonnes of chlor-alkali, 1.1 million tonnes of ethylene dichloride and 360 thousand tons of polyvinyl chloride (PVC) annually.
HDFC Life Insurance Company: Standard Life (Mauritius Holdings) sold 10.08 crore shares or a 4.99 per cent stake in HDFC Life Insurance Company on Tuesday via two bulk deals on BSE at Rs 673 apiece.
IRCTC: Indian Railway Catering and Tourism Corporation Ltd (IRCTC) on Tuesday reported a 23 per cent decline in its profit after tax to Rs 103.78 crore for the March 2021 quarter. The company had reported a profit after tax (PAT) from continuing operations of Rs 135.14 crore for the corresponding quarter a year ago.
Ruchi Soya: Baba Ramdev-led Ruchi Soya Industries Ltd on Tuesday reported a net profit of Rs 314.33 crore for the quarter ended March 2021. The company had posted a net loss of Rs 41.24 crore in the year-ago period.
GIC Re: General Insurance Corporation of India on Tuesday reported a consolidated net profit of Rs 1,991.59 crore for the financial year 2020-21. The state-owned reinsurer had posted a loss of Rs 186.46 crore in 2019-20.