Nifty futures were trading 18 points down at 15,836 on Singaporean Exchange, indicating a muted opening for BSE Sensex and Nifty 50 on Wednesday. The markets have been reaching new peaks for last few days. On technical charts, Nifty has been trading in an uptrend channel on the intraday chart and currently hovering around the upper band of the same. “We’re seeing an early sign of a rebound in the banking index which could trigger a further surge,” said Ajit Mishra, VP – Research, Religare Broking. He advised traders to continue their focus on the selection of stocks and avoid contrarian bets.
Stocks in focus
RITES, Nureca: BSE-listed companies such as RITES, Asahi India Glass, CESC, Commercial Syn Bags, DIC India, Kakatiya Cement Sugar, Manaksia Steels, Nureca, Pritika Auto Industries, Somany Ceramics, and Welspun Enterprises, will announce their January-March quarter earnings on June 16.
Wipro: Wipro announced that it has joined the World Economic Forum’s Partnership for New Work Standards initiative to establish a healthy, resilient and equitable future of work. This initiative aims to co-create new frameworks, shape forward-thinking people policies and utilize tools and technologies to collectively build human-first work standards, with people at the
heart of business.
Reliance Industries Ltd: RIL’s digital arm Reliance Jio will start Jiofiber post-paid broadband service from June 17 without charging installation fee on new connections, PTI cited a company source as saying. The company at present charges Rs 1,500 as an installation charge for new connections.
Dalmia Bharat: Dalmia Bharat Sugar and Industries on Tuesday said it will increase its ethanol manufacturing capacity to 15 crore litre per annum from the current 8 crore litre starting January 2022. The announcement closely follows the government’s decision to meet the target of 20% ethanol blending in petrol by 2025.
Reliance Home Finance: The timeline for voting on bids for Reliance Home Finance (RHF ) has been extended till June 19, as some lenders could not cast their vote till Tuesday evening, sources close to the development told FE.
Power Finance Corporation: Power Finance Corporation (PFC) has reported a net profit of Rs 8,444 crore for the fiscal ended March 2021 on a standalone basis, recording a 49% year-on-year rise from the year-ago period on the back of higher interest income and lower cost of funds.
Jagran Prakashan: In an NSE bulk deal on Tuesday, Franklin Templeton Mutual Fund sold 16.17 lakh equity shares of Jagran Prakashan at Rs 61.79 per share.