Nifty futures were trading 32 points or 0.22 per cent up at 14,391 on Singaporean Exchange on Tuesday, suggesting a gap-up opening for BSE Sensex and Nifty 50.
Nifty futures were trading 32 points or 0.22 per cent up at 14,391 on Singaporean Exchange on Tuesday, suggesting a gap-up opening for BSE Sensex and Nifty 50. In the bloodbath on D-Street in the previous session, investors lost Rs 8 lakh crore. Markets will first react to TCS results and macroeconomic data i.e. IIP and CPI inflation in early trade on Tuesday. Analysts suggest maintaining a cautious stance in the near term. “Besides, stock-specific volatility will remain high, with the start of Q4FY21 earnings and investors should focus on sectors such as IT, FMCG and Pharma as they are expected to post strong numbers,” said Ajit Mishra, VP – Research, Religare Broking Ltd. He added that Nifty has the next critical support at 14,100 levels. In case of a rebound, the 14,500-14,650 zone would act as a hurdle.
Stocks in focus today:
TCS: Tata Consultancy Services on Monday reported a strong set of numbers for the March quarter announcing order wins worth a stupendous $9.2 billion. It posted a 14.9 per cent rise in consolidated net profit to Rs 9,246 crore for the March 2021 quarter. The revenue of the IT major grew 9.4 per cent in the quarter under review to Rs 43,705 crore from Rs 39,946 crore a year ago, it added.
Yes Bank: Markets regulator Sebi on Monday imposed a penalty of Rs 25 crore on Yes Bank in the matter of misselling the lender’s AT-1 bonds few years ago. Besides, the watchdog has imposed a fine of Rs 1 crore on Vivek Kanwar, who was the head of the private wealth management team, and Rs 50 lakh each on Ashish Nasa and Jasjit Singh Banga, according to PTI.
BPCL: Bharat Petroleum Corporation plans to further reduce its dependence on crude oil from West Asia to 50% from 65% at present as the company plans to increase sourcing from countries in West Africa, Far East and Latin America.
Coforge: Coforge picked up a controlling stake in SLK Global Solutions, a business process transformation services provider primarily to the financial services industry, for a reported enterprise value of USD 195 million.
Prabhat Dairy: Prabhat Dairy will be delisted from BSE and NSE on April 30, while trading in its equity shares will be discontinued from April 23, the exchanges said. This comes after the company complied with the formalities for voluntary delisting of equity shares.
Bandhan Bank: Bandhan Bank said that its loans and advances grew 21 per cent on-year to Rs 87,054 crore in the quarter ended March 31, 2021, against Rs 71,846 crore posted in corresponding period of the previous quarter. Total deposits grew 37 per cent to Rs 77,972 crore against Rs 57,082 crore. The bank’s current and savings account (CASA) deposits jumped 61 per cent on-year.
Adani Ports: Flipkart announced a strategic and commercial partnership with the Adani Group. In this two-pronged partnership, Flipkart will work with Adani Logistics Limited, a wholly owned subsidiary of Adani Ports & Special Economic Zone Limited, to strengthen Flipkart’s supply chain infrastructure and further enhance its ability to serve its rapidly growing base of customers