Nifty futures have been trading 203 points or 1.39 per cent decrease at 14.457.20 on Singaporean Exchange, suggesting a weak opening for BSE Sensex and Nifty 50 on the initial day of the week. In the prior session, the 30-share Sensex ended at 48,782, even though the broader Nifty 50 index settled at 14,631. Analysts anticipate markets to stay variety bound as the worry of the continuous rise in covid caseload and extended lockdowns in a variety of states, might cap the upside. “We expect Nifty to trade in the range of 14200-15000 zone,” stated Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd. This week, investors would keenly track the state elections outcome and Auto month-to-month sales information which would retain the market place on the edge, even though on the international front, crucial macro-financial information like US Non-Payroll Farms information, US PMI information and BoE monetary policy would be kept an eye on, Khemka added.
Stocks in concentrate today May 3, 2021
RIL: Mukesh Ambani-led Reliance Industries Ltd on Friday posted a net profit rose 108.36 per cent on-year to Rs 13,277 crore in January-March quarter of FY21. According to the corporation, the profit of Rs 13,227 crore was attributable to owners of the corporation, even though the total profit of Rs 14,995 crore in the fourth quarter rose 129.1 per cent on-year.
Kotak Mahindra Bank, IDBI Bank: A total of 21 BSE-listed providers like Apollo Tricoat, Godrej Properties, IDBI Bank, Kotak Mahindra Bank, SBI Life Insurance, L&T Technology Services, Tata Chemicals, and Varun Beverages, will announce their January-March quarter earnings on May 3.
Yes Bank: Yes Bank on Friday reported a net loss of Rs 3,787.75 crore for the March quarter of FY21, against a profit of Rs 2,629 crore a year ago, which had arisen out of the writedown of its extra tier-I bonds. Effectively, the bank had posted a net loss of Rs 3,668 crore in Q4FY20, which widened in Q4FY21 owing to a 22.5% year-on-year (y-o-y) drop in net interest earnings (NII) and a 7.6% rise in provisions.
IndusInd Bank: IndusInd Bank on Friday reported a 190% year-on-year (y-o-y) jump in its net profit to Rs 876 crore for the quarter ended March 2021 due to the fact of healthier interest earnings and decreased provisioning. Provisions declined 24% y-o-y to Rs 1,866 crore.
TCS: Tata Consultancy Services stated on Friday that Samir Seksaria will take more than as the company’s chief economic officer on May 1. He replaces V Ramakrishnan, who retired from the services of the corporation successful Friday.
Persistent Systems: Persistent Systems reported a 64.35% year-on-year development in profit just after tax to Rs 137 crore for the March quarter, with 20.2% development in income to Rs 1,113.36 crore. Revenue in dollar terms was up 20.3% to $152.82 million for the duration of Q4 FY21, with the corporation reporting development across all verticals.
Maruti Suzuki, Bajaj-Auto: Auto stocks will stay in concentrate as investors will react to auto sales numbers for the month of April which will be pouring in from today.
Adani group stocks: Adani Group on Friday stated it will commence a supportive care facility for Covid-19 positive patients. The Ahmedabad-based multinational conglomerate stated that Adani Vidya Mandir School situated in Ahmedabad and run by Adani Foundation will be converted into a supportive care centre for coronavirus patients.