Trends on SGX Nifty recommend a gap-down start off for the BSE Sensex and Nifty 50 with drop of 56 points or .36 per cent. The Nifty futures have been trading at 15,436.50 on the Singaporean Exchange. Today, all eyes eyes would be on GDP development information for January-March quarter of FY21. Besides, movement of the rupee against US dollar, brent crude oil rates and foreign institutional investors investment trends would also be looked at by industry investors for additional path. According to technical analysts, the quick term trend of Nifty continues to be positive. “Having, moved above the resistance at 15430, one may expect further upside in the coming sessions. The next upside targets to be watched around 15800 (pattern target of broader high low range breakout at 15000-14200 levels and this could be achieved in the next one week. Immediate support is now placed at 15350-15300 levels,” stated Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Stocks in focus
Aurobindo Pharma, Honeywell Automation India: BSE-listed providers such as Chemcon Speciality Chemicals, Aurobindo Pharma, Honeywell Automation India, Jamna Auto Industries, JBF Industries, Kolte-Patil Developers, Lloyds Steels Industries, Magma Fincorp, Man Industries, Marksans Pharma, Narayana Hrudayalaya, Prakash Industries, Rupa & Company, Shilpa Medicare, Uttam Galva Steels, Vascon Engineers, and Venus Remedies, amongst other folks will release their Jan-Mar quarter earnings on May 31.
State Bank of India: SBI’s chairman Dinesh Kumar Khara on Sunday stated that as per preliminary assessment, the bank ought to be in a position to create a book of Rs 2,000 crore by means of expanded emergency credit line assure scheme (ECLGS). Khara made this comment at a joint press conference of SBI and Indian Bank’s Association (IBA) to launch standardised Covid loan goods by public sector banks.
Bharti Airtel: Bharti Airtel on Sunday stated it has upgraded its mobile network in North East by adding 10 Mhz spectrum in the 2300 Mhz band for providing the very best practical experience to its shoppers. The new addition will allow enhanced network availability and information speed as more and more persons access higher speed information services from their clever devices, the organization stated in a statement.
Coal India: Coal India is most likely to report dry fuel production of about 41.7 million tonnes and offtake of practically 55 million tonnes this month as against production of 41.43 million tonnes and sales of 40 million tonnes in the corresponding period last year, the official stated.
Glenmark Pharmaceuticals: Glenmark Pharma has reported a 6.15 per cent rise in its consolidated net profit to Rs 233.87 crore for the quarter ended March 2021 on account of greater sales.The organization had posted a net profit of Rs 220.30 crore in the corresponding period of the prior fiscal.
Bank of Baroda: Bank of Baroda reported a net loss of Rs 1,047 crore in the March quarter (Q4FY21) due to one-time hit of Rs 3,837 crore taken by the lender on account of deferred tax asset (DTA) reversal.
Macrotech Developers: The realty firm has formed two joint ventures to create projects with sales worth of Rs 1,500 crore and is seeking for more such partnerships to develop organization. Macrotech Developer, earlier identified as Lodha Developers, got listed on the stock exchange last month following prosperous launch of its Rs 2,500-crore initial public providing (IPO).
Dhanlaxmi Bank: Dhanlaxmi Bank on Saturday reported that poor loans have improved substantially in the fourth quarter of FY21, with gross NPA ratio touching 9.23% as against 5.90% in the year-ago period.