Nifty futures have been trading 58.50 points or .37 per cent up at 15,787 on Singaporean Exchange, suggesting a positive start off for BSE Sensex and Nifty 50 on Tuesday. In the prior session, S&P BSE Sensex jumped 834 points from the day’s low to close at 52,574 though the 50-stock NSE Nifty index closed just shy of the intra-day higher of 15,765. Technical analysts stated that the marketplace after once again strongly resisted going beneath 15,500/51700. With 15500/51700 levels holding assistance for second day in a row, the marketplace saw a powerful brief-covering trend today. “After Friday’s indication, the market has formed a bullish continuation formation today and according to that 15800/52800 will be a big hurdle. However, if indices manage to close above 15800/52800, it could reach 16000/16050 (53400/53500) star. On Tuesday, 15800/52800 and 15650/52400 could be the trading range of the market,” Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities, stated.
Stocks in focus
Bharat Electronics, Jaypee Infratech: BSE-listed firms such as NMDC, Ashapura Minechem, Aster DM Healthcare, Bharat Electronics, BL Kashyap and Sons, Gandhi Special Tubes, GE Power India, ITI, Jaypee Infratech, Max India, Omax Autos, Peninsula Land, PNB Gilts, Religare Enterprises, and Sobha, are scheduled to announce their January-March quarter earnings on June 22.
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State Bank of India: The country’s biggest lender SBI on Monday stated its central board has authorized a proposal to raise up to Rs 14,000 crore by issuing Basel-III compliant bonds. The bonds are proposed to be raised in Indian or US currency. “The central board of the bank at its meeting held today on June 21, 2021, accorded approval for raising capital by way of issuance of Basel III compliant debt instruments in USD and/or INR during FY22,” SBI stated in a regulatory filing.
Bharti Airtel, TCS: Bharti Airtel announced a strategic partnership for implementing 5G networks options for India. Tata Group has created a ‘state of the art’ O-RAN based Radio & NSA/SA Core and has integrated a completely indigenous telecom stack, leveraging the Group capabilities and that of its partners. This will be obtainable for industrial development beginning Jan 2022.
Wipro: Wipro has also closed quite a few acquisitions in the second half of FY21 across important markets like the US and Europe, which has helped the Bengaluru-based organization strengthen its neighborhood presence and service offerings, Wipro CEO Theirry Delaporte stated in his note in the company’s FY2020-21 annual report.
Reliance Industries Ltd: With a possible for a 10x development in pre-tax profit from the small business more than the next decade, retail like e-commerce will be the next development engine for RIL, Goldman Sachs stated in a report. After expanding 5x more than FY16-FY20, RIL’s core retail income development has taken a pause in FY21 (April 2020 to March 2021) due to Covid associated macro headwinds like reduce footfalls.
NTPC: NTPC has doubled its renewable power target for 2032, and now desires to have 60,000 mega-watt (MW) of wind and solar capacity by the finish of the target period. Currently, the installed renewable power capacity of the organization is 1,350 MW and by FY24, it intends to add about yet another 13,000 MW of green energy generation base.
PNB Housing Finance: The Securities Appellate Tribunal (SAT) on Monday permitted PNB Housing Finance to go ahead with the extraordinary common meeting (EGM) scheduled for June 22. The EGM will see shareholders vote on the mortgage player’s Rs 4,000-crore preferential share allotment to private equity player Carlyle and other people, like General Atlantic and former HDFC Bank MD&CEO Aditya Puri’s family investment car