Nifty futures have been trading in red at 15,617 on Singaporean Exchange. On Wednesday, BSE Sensex and Nifty 50 could commence in the unfavorable territory amid mixed worldwide cues. Technical analysts say that Nifty’s pattern on a weekly time-frame suggests additional upside movement in the counter. “The index has been trading above all the moving average in daily time frame, which points out strength in the counter. In addition, an indicator MACD & Stochastic witnessed positive crossover. At present, the nifty seems to have resistance at 15700 levels while immediate support shifted to around 15450 levels,” stated Sumeet Bagadia, Executive Director, Choice Broking
Stocks to watch
Motherson Sumi, PVR: Motherson Sumi Systems, Muthoot Finance, Ranami Metals & Tubes, PVR, MTAR Technologies, Panacea Biotec, NRB Bearings, Dhunseri Ventures, amongst BSE-listed providers that are scheduled to announce their quarterly earnings on June 2.
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Infosys: On Tuesday, Infosys was informed of an interim ex-parte SEBI Order exactly where two of its personnel, amongst other third parties have been named, in an ongoing insider trading investigation. Infosys stated that it has a nicely-defined Code of Conduct covering all its personnel and an Insider Trading Policy that governs dealing with unpublished price tag sensitive data.
ITC: ITC on Tuesday reproted 1.28 per cent on-year fall in its standalone net profit to Rs 3,748.41 crore for the fourth quarter ended March 31, as its gross income from sale rose 24.10 per cent on-year. The company’s board has advisable a final dividend of Rs 5.75 per share, such as interim dividend of Rs 5 per share. The total dividend for FY21 stands at Rs 10.75 per share.
Reliance Industries Ltd: Reliance BP Mobility Ltd, the Indian fuels and mobility joint venture amongst RIL and bp that operates beneath the “Jio-bp” brand has began a system in collaboration with Reliance Foundation to provide fuel free of charge of charge to COVID emergency services cars across the nation.
Route Mobile: Route Mobile announced an agreement with Emirates Integrated Telecommunications Company (EITC) – du, UAE’s second Integrated Telecom Service Provider, by providing a turnkey resolution applying Route Mobile’s Smart Messaging Hub which enables du to launch a very scalable income-creating messaging platform to allow A2P wholesale transit business enterprise.
Manappuram Finance: Gold loan business enterprise is anticipated to collect pace in the second quarter of the fiscal with the gradual unlocking of the economy, according to major gold loan lender Manappuram Finance. The NBFC expects development to be in the variety of 10-15% for the full fiscal, with fewer loan defaults compared to FY21.