Nifty fututres had been trading one per cent or 147.5 points down at 14,783.50 on Singaporean Exchange, suggesting a unfavorable opening for BSE Sensex and Nifty 50 on Friday. Investors will continue to watch increasing COVID-19 instances, on-going vaccination drive, fresh restrictions and lockdown in some states, oil costs, rupee movement and other international cues. Analysts say Nifty has been forming greater highs – greater lows from the last 5 trading sessions but formed a Bearish candle on each day scale. “Now, it has to continue to hold above 14800 zones to witness an up move towards 15000 and 15150 zones while on the downside support exists at 14700 and 14600 zones. So far the positive global cues and strong quarterly earnings season has been supportive to the market. While the market undertone is positive, the extension of lockdowns and the continuous rise in cases could cap the upside,” mentioned Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
Stocks in concentrate today
RIL: Mukesh Ambani’s Reliance Industries Ltd is scheduled to announce it Januray-March quarter earnings on April 30. The business will also announce dividend for the shareholders. So far in April RIL stock is down 3 per cent even though it is flat on year-to-date (YTD) basis. Analysts anticipate RIL’s income to develop at least in double digits sequentially.
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Yes Bank, IndusInd Bank: A total of 25 BSE listed firms such as Reliance Industries Ltd, Yes Bank, IndusInd Bank, Marico, Indian Hotels, Ajanta Pharma, Trent, Can Finance Homes, Astec Lifesciences, Atul, Shriram City Union Finance, and RPG Life Sciences will announce their quarterly benefits today.
Equitas SFB: Equitas Small Finance Bank on Thursday reported a 162% jump in its profit immediately after tax (PAT) at Rs 113 crore for Q4Fy21, against Rs 43 crore in the corresponding quarter of the prior fiscal. Total earnings stood at Rs 997 crore as against Rs 799 crore in the year-ago preiod, registering about 25% development.
HUL: Hindustan Unilever (HUL) on Thursday reported a robust development in volumes of 16% year-on-year for the 3 months to March on the back of all round development. The FMCG big had reported a contraction of 7% in volume in Q4FY20 following the nationwide lockdown.
Embassy Office Parks REIT: Embassy Office Parks REIT has reported an improve of 12% year-on-year in net operating earnings, with operating margins of 86% for the fourth quarter of FY21.
Future Retail: Rating agency S&P has downgraded Future Retail’s lengthy-term rating issuer credit rating to ‘SD’ (selective default) from ‘CCC-’ . The rating action came immediately after Future Retail announced the implementation of a one-time restructuring program by lenders on debt aggregating about Rs 10,200 crore.
Vedanta: Vedanta on Thursday mentioned its Chairman Anil Agarwal has pledged Rs 150 crore to assist India in its fight against deadly COVID-19 second wave. The quantity is more than and above Rs 201 crore that was spent by Vedanta Group in 2020, it mentioned in a statement.