BSE Sensex snapped a two-day losing streak on Friday as the benchmark index gained marginally, although Nifty ended with flat to adverse bias. Monday could begin on a positive note for domestic indices with the SGX Nifty gaining 58 points or .39 per cent on Singaporean Exchange in the course of the early hours of trade. According to analysts the brief term trend of Nifty is choppy with weak bias. “The present market action signal chances of an upside bounce in the coming sessions. The confirmation of higher bottom at 14591 (Friday’s Low) is expected to pull the market on upside. The next upper levels to be watched around 14900-15000 in the next one week. Immediate support is placed at 14590,” stated Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Stocks in focus today
Bharti Airtel, Federal Bank: BSE-listed businesses such as Bharti Airtel, Colgate-Palmolive (India), Federal Bank, Gland Pharma, Gujarat Narmada Valley Fertilisers Chemicals (GNFC), Indo Count Industries, Manglore Refinery Petrochemicals (MRPL), Orient Cement, Shakti Pumps, Sun Pharma Advance and Wabco India, will announce their January-March quarter benefits on May 17.
Granules India: The enterprise has earmarked a capex of about Rs 1,000 crore which it aims to invest more than the next 3 economic years on expansion of operations, according to a top rated enterprise official.
State Bank of India: SBI will sell 3 undesirable accounts to asset reconstruction businesses or other economic institutions next month to recover dues of more than Rs 235 crore, according to a sales notice.
Larsen & Toubro: Larsen and Toubro (L&T) on Friday reported a 3 per cent on-year boost in the net profit to Rs 3,293 crore in the course of the January-March quarter of FY21. The company’s consolidated income was up 9 per cent on-year at Rs 48,088 crore.
Vedanta: Vedanta-owned Sterlite Copper has temporarily paused production at its oxygen plant in Tuticorin due to a technical snag in the cold box. The enterprise not too long ago reopened the plant to generate healthcare oxygen, and the very first set of tankers was dispatched to beneficiaries on Thursday.
Tata Motors: Moody’s Investors Service on Friday changed the outlook on Tata Motors to steady from adverse. At the exact same time, it affirmed TML’s B1 corporate family rating (CFR) and B1 senior unsecured ratings.
Cipla: Drug main Cipla posted 73 per cent rise in consolidated net profit at Rs 412 crore for the fourth quarter ended March 31, 2021 on the back of robust sales across markets. The Mumbai-based firm had reported a net profit of Rs 238 crore in January-March 2019-20.
Jindal Stainless: JSL on Friday reported a consolidated net profit of Rs 292.61 crore for the fourth quarter ended March 2021. The enterprise had registered a net loss of Rs 66.20 crore in the year-ago period, JSL stated in a BSE filing.