Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at a flat start on Friday, as suggested by trends on SGX Nifty. Nifty futures were trading 13.50 points or 0.09 per cent down at 14932.50 on Singaporean Exchange. In the previous session, the 30-share Sensex gained 84 points while Nifty added 56 points. According to analysts, Indian markets are likely to track global cues along with the earnings season which would kick start from next week and would keep markets volatile. “We expect Q4 to be another strong quarter, aided by a deflated base of 4QFY20 and healthy demand recovery for the large part of 4QFY21 – as attested by high-frequency indicators,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd said.
Stocks in focus today:
Vodafone Idea: Vodafone Idea’s enterprise arm Vi Business has launched Integrated IoT (internet of things) solutions for enterprises. The telecom company will offer end-to-end IoT solution comprising connectivity, hardware, network, application, analytics, security and support.
Bharti Airtel: The Department of Telecom moved the Supreme Court seeking to recover Videocon Telecommunications’ adjusted gross revenue (AGR) dues of Rs 1,376 crore from Bharti Airtel. The DoT told the apex court that it had raised the demand as per the SC’s September 1, judgment.
Dhanlaxmi Bank: The bank said its advances increased 4.75 per cent on-year during the fourth quarter of the previous fiscal, while deposits increased by 7.29 per cent during the same period. The lender’s gross advances touched Rs 7,121.94 crore as on March 31, 2021, against Rs 6,798.89 crore as of March 31, 2020.
Tata Power: Tata Power said its total outstanding borrowing stood at Rs 16,504.41 crore at the end of March 31. Tata Power, together with its subsidiaries and joint entities, has a generation capacity of 12,792 megawatts. Of this, 30 per cent comes from clean energy sources.
NBCC (India) Ltd: NBCC has submitted the fresh resolution plan for Jaypee Infratech Limited (JIL) on Wednesday with respect to the Corporate Insolvency Resolution Process (CIRP) of JIL.
Muthoot Finance: Muthoot Finance’s 25th public issue of secured redeemable non-convertible debentures (NCDs) of Rs 1,700 crore which opened Thursday, got oversubscribed on first day. As per the data available on the BSE, against issue size of Rs 1,700 crore, bids were made for Rs 2,337 crore.