Domestic equity market place indices BSE Sensex and Nifty 50 had been probably to open flat on Wednesday, as recommended by trends on SGX Nifty in the early trade. In the preceding session, Sensex closed flat at 52,275, even though the Nifty 40 index ended 11.55 points reduce at 15,740. Analysts say that the advance-decline ratio although in positive is falling and therefore displaying indicators of profit-taking across the markets. “Sector rotation continues as does some specific stock rotation based on news and developments. 15630-15840 remains the band for the Nifty for the near term,” Deepak Jasani, Head of Retail Research, HDFC Securities, mentioned.
Stocks in focus
GAIL, Bajaj Healthcare: BSE-listed corporations which includes GAIL India, Bata India, Bajaj Healthcare, BCL Industries, Dynamic Cables, Gayatri Highways, GSS Infotech, Indian Metals & Ferro Alloys, Indraprastha Medical Corporation, Munjal Auto Industries, Shivam Autotech, Star Cement, Taneja Aerospace, and TeamLease Services, are scheduled to announce January-March quarter earnings on June 9.
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Infosys, DHFL, Coal India, UCO Bank, PNB, Bank of India, Tata Steel, IOCL, hospital stocks in focus
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PNB, MRF, Mrs Bectors Food, HDFC, Emami, InterGlobe Aviation, Union Bank of India stocks in focus
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RIL, Punjab National Bank, Bharat Forge, M&M, Britannia, Bank of India, price sensitive stocks in focus
DHFL: Though the National Company Law Tribunal (NCLT) has authorized the resolution strategy of Piramal Capital and Housing Finance (PCHFL) for Dewan Housing Finance (DHFL), some stakeholders are preparing to move larger courts to challenge the order. 63 Moons Technologies on Tuesday mentioned it is going to challenge NCLT’s approval of the DHFL resolution strategy.
PNB Housing Finance: Proxy advisory firm Stakeholders Empowerment Services (SES) mentioned on Tuesday that the proposed preferential situation by PNB Housing Finance is against the interest of public shareholders, PNB shareholders and the government.
Bandhan Bank: The Reserve Bank of India has granted approval for re-appointment of Chandra Shekhar Ghosh, MD and CEO of Bandhan Bank, for a period of 3 years. The RBI vide its communication dated June 8 has granted approval for re-appointment of Ghosh for a period of 3 years, with impact from July 10, 2021.
Tata Motors: The firm mentioned that it has incorporated a new subsidiary named TML CV Mobility Solutions Limited to provide finish-to-finish services of operating, repair, annual upkeep contracts (AMC) and fleet management services (FMS) for its solution variety, which includes electric cars.
Adani Enterprises: Adani Enterprises Ltd has incorporated a wholly-owned subsidiary namely, Mundra Windtech Limited for manufacturing wind turbine generators and other auxiliaries.