Nifty futures have been trading 51 points or .32 per cent up at 15,821 on Singaporean Exchange, suggesting a positive opening for BSE Sensex and Nifty 50 on Wednesday. In the earlier session, S&P BSE Sensex closed at 52,588 even though the Nifty 50 index ended at 15,772. Market participants will track monsoon, graded opening up of the economy and the choose up in COVID-19 vaccination pace. Analysts think Nifty is nevertheless in positive territory. “It’s difficult to make any sustainable move without banking, which is still trading sluggish. We may see further choppiness ahead due to scheduled derivatives expiry and mixed global cues,” Ajit Mishra, VP – Research, Religare Broking Ltd, mentioned.
Stocks in focus
HDFC Bank: HDFC Bank on Tuesday offloaded 19.8 lakh shares of Central Depository Services at typical cost of Rs 936.4 apiece by means of a bulk deal on NSE.
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Apollo Hospitals Enterprise, HCC: BSE-listed organizations such as Asian Hotels (East), Allcargo Logistics, Apollo Hospitals Enterprise, Andrew Yule & Company, Deepak Spinners, Empire Industries, HCC, MBL Infrastructures, Mcleod Russel India, Mercator, Munjal Showa, Precision Wires India, Schneider Electric Infrastructure, Sharon Bio-Medicine, Speciality Restaurants, Technofab Engineering, and V2 Retail will release their January-March quarter earnings on June 23.
IDBI Bank: The division of investment and public asset management (DIPAM) in the finance ministry on Tuesday floated a Request For Proposal (RFP), inviting transaction and legal advisers for strategic disinvestment of IDBI Bank. As per the program, the government will exit the bank by divesting its whole 45.48% stake worth about Rs 19,000 crore at the existing marketplace costs and promoter Life Insurance Corporation will give to sell a portion of its 49.24% stake with an intent to relinquish management manage.
Jaypee Infratech: Jaypee Infratech Ltd posted a consolidated net loss of Rs 491.60 crore for the quarter ended March 2021. The corporation had reported a net loss of Rs 940.53 crore in the year-ago period, it mentioned in a regulatory filing.
GE Power India: GE Power India on Tuesday posted a practically 8 per cent raise in consolidated net profit to Rs 16.02 crore for the quarter ended March 2021. The consolidated net profit of the corporation stood at Rs 14.87 crore in the identical quarter of the earlier fiscal.
Vodafone Idea: Vodafone Idea on Tuesday mentioned it is providing voice and information advantages for low-revenue group customers to reconnect back, as they resume work amid lockdown relaxation. With the commencement of gradual state-sensible unlocking efforts, India’s migrant working population has began returning from their home towns to their work places, PTI cited company’s statement.
NMDC: NMDC’s PAT for the quarter ended March 31 was 708 per cent larger at Rs 2,838 crore compared to Rs 351 crore for the duration of the identical period last fiscal. During the fourth quarter of the last fiscal, turnover stood at Rs 6,848 crore compared to Rs 3,187 crore in the identical quarter in FY20.
Sobha: Sobha Ltd reported a 65 per cent decline in its consolidated net profit at Rs 17.9 crore for the quarter ended March. Its net profit stood at Rs 50.7 crore in the year-ago period.
Minda Industries: Minda Industries restricted announced that it has won bid to obtain of 51% stake in automotive lighting manufacture UZ Chasys LLC (UZ Chasys) in Uzbekistan. Uzbekistan government is moving toward liberalization of the economy and divesting their stake in some of the government-controlled entities. As portion of this approach, Uzbekistan Government is divesting their 51% stake in UZ Chasys by means of auction approach.