Nifty futures have been trading 145 points or .95 per cent larger at 15,335 on Singaporean Exchange, suggesting a powerful opening for BSE Sensex and Nifty 50 on Tuesday. Market participants will take cues from last leg of quarter earnings, scheduled F&O expiry, trends in COVID-19 circumstances, vaccination drive and other worldwide development. Besides, oil costs and rupee movement against US dollar will also be monitored by the participants. “The nifty index breached the prior resistance of 15044 levels and sustained above the Falling Trendline as well as the Ichimoku Cloud formation that suggests a bullish strength in the counter. An oscillator Stochastic & MACD also suggested positive crossover on the daily time frame which further added strength in the counter. At present, the Nifty seems to have an immediate resistance at 15,340 and major resistance is intact at 15,450 levels while support is placed at around 15,000,” mentioned Sumeet Bagadia, Executive Director, Choice Broking.
Stocks in focus
Alkem Laboratories, VIP Industries: BSE listed businesses such as Alkem Laboratories, Bayer CropScience, Emami, AIA Engineering, Thermax, Bajaj Electricals, Computer Age Management Services, TTK Prestige, AstraZeneca Pharma India, Vardhman Textiles, Laxmi Organics Industries, LUX Industries, VIP Industries, Transport Corporation of India, Stove Kraft, Ramco Systems, GATI, TVS Srichakra, amongst other individuals will report their quarterly outcomes on May 25.
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Reliance Home Finance: RHFL has defaulted on payment of Rs 31.32-crore interest to 27 lenders on April 30, the mortgage lender disclosed to stock exchanges on Monday. The list of lenders involves Bank of Baroda, Punjab National Bank, ICICI Bank, HDFC Bank, Canara Bank, Bank of India and Indian Bank, amongst other individuals.
Alembic Pharmaceuticals: Alembic Pharmaceuticals is all set to manufacture Amphotericin-B, a drug used to treat mucormycosis patients, soon after getting a licence to do so from the Food & Drug Control Authority (FDCA), Gujarat.
Manappuram Finance: Manappuram Finance, has announced the closing of a US$15 million (Rs 111.15 crore), seven-year industrial loan from US-based WorldBusiness Capital (WBC). The loan availed below India’s ECB norms will allow Asirvad to expand its enterprise of offering smaller loans to low-revenue ladies enterprise owners in rural places to commence and expand their companies, sources mentioned.
India Cements: India Cements reported a standalone net profit of Rs 71.63 crore for the fourth quarter of FY21, bouncing back from a net loss of Rs 111.07 crore in the corresponding quarter of last fiscal. The organization has posted revenue of Rs 1,461.44 crore as against Rs 1,169.92 crore.
Bharti Airtel: Bharti Airtel on Monday mentioned its network is totally prepared for 5G and also announced the deployment of further spectrum in Karnataka and Tamil Nadu to increase network high-quality. The organization has deployed 11.2 Megahertz (Mhz) further spectrum in Karnataka and 5 Mhz in Tamil Nadu, each in 1800 Mhz band, popularly recognized as 2G spectrum.
Cadila Healthcare: India’s Cadila Healthcare (CADI.NS) is aiming to triple month-to-month production of a COVID-19 vaccine candidate to as numerous as 30 million doses, Reuters cited the company’s managing director as saying, as the nation battles a enormous wave of infections.
Cipla: Roche India and Cipla announced that the very first batch of the Antibody Cocktail (Casirivimab and Imdevimab) is now accessible in India although a second batch will be made accessible by mid-June. In total they can potentially advantage 2 lakh patients as every single of the one hundred,000 packs that will be accessible in India presents remedy for two patients.
Panacea Biotec: The Russian Direct Investment Fund (RDIF) and Panacea Biotec announced the launch of production of the Russian Sputnik V vaccine against coronavirus. The very first batch developed at Panacea Biotec’s facilities at Baddi will be shipped to the Gamaleya Center for high-quality manage.