Domestic equity market place benchmarks BSE Sensex and Nifty, immediately after increasing on the initially day of the week, are now searching to carry on the momentum additional. SGX Nifty was up 157.60 points or 1.05 per cent at 15,113 on Singaporean Exchange, hinting at Nifty 50’s get started above the critical 15,000-mark on Tuesday. The 30-stock BSE Sensex ended Monday’s trading session up 848 points to sit at 49,580.73, even though Nifty 50 ended at 14,923. “Nifty rose sharply and ended almost at the intraday high. The next stop on the upside is the 14966-15044 band. A breach of this band could lead to a challenge to the all-time highs of the Nifty (15432). On falls 14824-14850 band could provide support,” mentioned Deepak Jasani, Head of Retail Research, HDFC Securities.
Stocks in focus today
Bharti Airtel: Bharti Airtel on Monday reported a consolidated net profit of Rs 759 crore for the January-March quarter of FY21, and an annual turnover of more than Rs 1 lakh crore for the initially time. The firm had posted a loss of Rs 5,237 crore in the similar period a year ago.
Panacea Biotech: Serum Institute of India CEO Adar Poonawalla on Monday offloaded his complete stake in Panacea Biotec amounting to 5.15 per cent shareholding of the firm for Rs 118 crore, by means of an open market place transaction. The shares have been picked by Serum Institute of India (SII), according to PTI. As per BSE block deal information, Poonawalla sold 31.57 lakh scrips, he held in the firm at a price tag of Rs 373.85 per share, taking the total deal worth to Rs 118.02 crore.
Tata Motors, Canara Bank: BSE-listed providers such as Aarti Industries, Abbott India, Torrent Pharmaceuticals, Ujjivan Small Finance Bank, Tata Motors, Canara Bank, Brigade Enterprises, Chalet Hotels, Coromandel Engineering Company, Dolat Investments, GSK Pharma, Jindal Stainless (Hisar), JSL Industries, Jyothy Labs, Minda Corporation, PI Industries and Route Mobile will release quarterly earnings on May 18.
Reliance Industries Ltd: RIL’s subsidiary, Reliance Jio Infocomm Ltd is constructing the biggest international submarine cable program centered on India. Jio, in conjunction with numerous essential worldwide partners and world-class submarine cable supplier SubCom, is at the moment deploying two next generation cables to assistance the extraordinary development in information demand across the area.
Larsen and Toubro: L&T’s guidance on order inflows for FY22 appears aggressive to analysts tracking the firm, even though that on income and margins appears achievable. The firm on Friday mentioned it anticipated to exit FY22 with a development price that could variety anyplace up to low- to mid-teens in terms of order inflows and revenues.
Union Bank of India: Union Bank of India mentioned it has authorized raising of Rs 1,750 crore by means of certified institutional placement (QIP). The committee of the directors for raising capital funds at its meeting held on May 17, 2021, has authorized raising of funds for an quantity not exceeding Rs 1,750 crore by means of the concern of equity shares by means of QIP.