Trends on SGX Nifty recommend a gap-up commence for BSE Sensex and Nifty 50 with a rise of 46 points on Monday. The Nifty futures have been trading at 15,745.80 on the Singaporean Exchange. In the earlier session, the 30-share Sensex ended 132 points down at 52,one hundred, even though the Nifty 50 index ended 20 points down at 15,670. Investors will continue to focus on the trajectory of everyday COVID-19 situations and vaccination drive in the nation. Besides, the trend in Brent crude oil, movement in rupee against US dollar and foreign institutional investors inflows would also continue to guide markets. After witnessing late intra-day recovery from losses in the earlier session, Nifty appears to keep its momentum in upward path. “Higher levels to look out shall be 15,800 and 16,000. Key support levels for the near term remain at 15,500 and 15,300,” stated Mohit Nigam, Head, PMS – Hem Securities.
Stocks in focus
MRF, Mrs Bectors Food: BSE-listed corporations such as Union Bank of India, Central Bank of India, Mrs Bectors Food Specialities, Dynamatic Technologies, MRF, New India Assurance Company, Shree Pushkar Chemicals & Fertilisers, SMC Global Securities, SMS Lifesciences India, Tower Infrastructure Trust, Victoria Mills, and Yuken India, amongst other folks are scheduled to announce their January-March quarter earnings on June 7.
Punjab National Bank: PNB expects to triple its net profit for the duration of the existing monetary year to Rs 6,000 crore, compared to Rs 2,022 crore for the duration of FY21, MD and CEO SS Mallikarjuna Rao stated on Saturday. The lender also expects to develop its loan book by 8% for the duration of FY22, in spite of Covid-associated impacts.
HDFC: As portion of its corporate social duty (CSR) initiative, Housing Development Finance Corporation has committed an initial quantity of Rs 40 crore this year for COVID-19 assistance and pledged to enhance this commitment more than the next two quarters based on have to have. The COVID-19 initiatives are getting undertaken via its philanthropic arm the HT Parekh Foundation, HDFC Ltd stated in a statement.
Emami: Emami Ltd has raised item costs on an typical by 4 per cent in the existing fiscal to offset the present input expense stress that will assistance the organization to retain a gross margin of 66-67 per cent, a senior organization official stated on Sunday. The company’s extended-awaited project Khoj that aims deeper rural attain to retain profitability momentum, has been launched in Uttar Pradesh with the relaxation of lockdown.
InterGlobe Aviation: IndiGo on Saturday reported a consolidated net loss of Rs 1,147.2 crore in the 3 months ended March, mainly due to a sharp decline in revenues amid the coronavirus pandemic.