A total of 115 companies including JK Cement, Shree Renuka Sugars, Sadbhav Infrastructure Project, Spandana Sphoorty Financial, among others are scheduled to announce their quarterly earnings today
Nifty futures were trading 74.90 points or 0.64 per cent up at 11,757 on Singaporean Exchange, indicating a higher opening for the BSE Sensex and Nifty 50 on Monday. A host of factors are set to drive markets this week, with GDP numbers in focus today, where industry experts and rating agencies are forecasting a contraction in GDP as the economy came under nationwide lockdown in the wake of the coronavirus pandemic during this April-June quarter. Besides, global cues, trends in COVID-19 cases, oil prices and rupee trajectory will continue to sway market sentiment. “Traders get caught on the wrong side even during a normal corrective phase when they don’t have an exit plan in place. We thus suggest keeping an extra focus on the selection of stocks and overnight risk management,” said Ajit Mishra, VP – Research, Religare Broking Ltd.
Stocks in focus today:
RIL, Future Retail: Mukesh Ambani-led Reliance Industries’ subsidiary Reliance Retail Ventures Limited (RRVL) announced to acquire the Retail & Wholesale Business and the Logistics & Warehousing Business from the Future Group in a mega transaction for Rs 24,713 crore. Through this deal, Future Enterprises will subsequently sell business such as Big Bazaar, fbb, Central and Brand Factory to Reliance Retail and Fashion Lifestyle Limited (RRFLL).
Nestle India: The COVID-19 pandemic has brought a major shift in consumption patterns among consumers as necessary purchases are taking precedence over luxury spending, Nestle India chairman Suresh Narayanan has said.
GAIL: GAIL is eyeing expansion in petrochemicals, speciality chemicals and renewables to supplement growth in its core business of natural gas marketing and transportation, its chairman Manoj Jain has said.
Jubilant FoodWorks: Jubilant FoodWorks, which operates Dunkin’ Donuts chain in India, has piloted a smaller sized kiosk model for the coffee and baked goods chain in the country and is evaluating opportunities to scale up through the new format.
JK Cement: A total of 115 companies including JK Cement, Shree Renuka Sugars, Sadbhav Infrastructure Project, Spandana Sphoorty Financial, among others are scheduled to announce their quarterly earnings today.