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Hindalco, BPCL, Future Retail, Infosys, Hindustan Zinc stocks in focus on monthly F&O expiry

Indian equity markets are likely to open gap-up on Thursday, a day of monthly F&O expiry’ amid positive global cues. Nifty futures were trading 77 points, or 0.48% higher at 16,099.50 on the Singapore Exchange signaling that benchmark indices BSE Sensex and NSE Nifty 50 were headed for a positive start.

stocks to watch, stocks in focus, hindalco, bpcl
Hindalco, BPCL, Future Retail, Infosys, Hindustan Zinc stocks in focus today on monthly F&O expiry

Indian equity markets are likely to open gap-up on Thursday, a day of monthly F&O expiry, amid positive global cues. Nifty futures were trading 77 points, or 0.48% higher at 16,099.50 on the Singapore Exchange signaling that benchmark indices BSE Sensex and NSE Nifty 50 were headed for a positive start. “We’re just replicating global sentiments which are not showing any sign of improvement. Besides, we don’t expect any relief on the volatility front due to the scheduled expiry of May month derivatives contracts,” said Ajit Mishra, VP – Research, Religare Broking. In the previous session, Indian stock markets ended lower for the third consecutive day, pulled down by a selloff in information technology, metal and realty names.

Stocks in focus on 26 May, Thursday

Infosys: Infosys has announced a collaboration with global cybersecurity company Palo Alto Networks to elevate the security maturity of large enterprises with mission-critical digital landscapes and to help prevent the threat of cyberattacks. Infosys and Palo Alto Networks will accelerate the creation of network security solutions that will be delivered through the Infosys global network of security operations centers, according to an exchange filing. The companies will enhance these security solutions for their worldwide customers like Mercedes-Benz, the filing added.

BPCL: Bharat Petroleum Corporation on Wednesday posted a net profit of Rs 2,130.5 crore in the fourth quarter of financial year 2021-22, which was 82% lower as compared to the profit of Rs 11,904.13 crore recorded in the corresponding period of the past fiscal. Revenue from operations rose 25% to Rs 1.23 lakh crore on higher oil prices but losses on petrol, diesel and domestic LPG sales dented the financials. The slide in net profit, despite the surge in revenue, is being attributed to the firm’s decision to hold the fuel prices despite the risk in input cost. BPCL and other public sector oil companies held petrol and diesel prices for a record duration despite a surge in the cost of crude oil to a 14-year high.

Future Retail: Future Retail (FRL) has denied all accusations made against its independent directors by Amazon, stating that the US e-commerce major has been making “baseless and irrelevant allegations”. FRL also alleged that Amazon has been writing to various regulators on “one or the other point”. As is evident, Amazon is changing its goal post every now and then with respect to various matters concerning the company, FRL said, replying to a clarification sought by the regulator. The information, which has been provided only by one party with “mala fide intent”, should not have any material impact on the company, it added.

Hindustan Zinc: With the government finances coming under stress due to the latest excise duty cut on petrol and diesel, the Cabinet on Tuesday approved the sale of the Centre’s residual 29.54% stake in Hindustan Zinc (HZL) worth about Rs 38,000 crore at the current market prices, to boost non-tax receipts. With the privatisation of BPCL now on the back burner, the sale of the HZL stake offers the government a large revenue potential in terms of value. As per the Supreme Court order dated November 18, 2021, the Centre can sell its residual stake in HZL in the open market in accordance with the Sebi rules.

Q4 Results today: Hindalco, Motherson Sumi, Muthoot Finance, Zee Entertainment Enterprises, Aarti Surfactants, Oberoi Realty, Aban Offshore, AllCargo Logistics, Ansal API, Astra Zeneca, Berger Paints, Colgate Palmolive India, Cummins India, Good Year India, Gujarat State Fertilizers Corporation, India Glycols, Jet Airways, Kirloskar Industries, MRO-Tek, NMDC, Page Industries, Prestige Estate Projects, Quess Corp, Shalimar Paints, Sudarshan Chemicals.

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