Nifty futures have been trading 77.50 points or .50 per cent larger at 15,707.50 on Singaporean Exchange, indicating a gap-up opening for BSE Sensex and Nifty 50 on Thursday. In the preceding session, BSE Sensex settled in red whilst Nifty 50 managed to recover all the intraday losses and ended in the green. Markets could stay volatile on Thursday due to weekly expiry of F&O contracts. Investors will also retain tabs on COVID-associated newsflow, Brent crude price tag, services PMI information, corporate earnings and other worldwide developments. Chartists say tha the Nifty appears to have an instant resistance at 15650 levels whilst help is placed at about 15400 levels.
Stocks in focus
RIL: In the company’s most recent annual report, Mukesh Ambani mentioned Reliance Industries Ltd now has a sturdy balance-sheet with higher liquidity that will help development plans for its 3 hyper-development engines – telecom arm Jio, retail and oil-to-chemical substances company. The firm sold minority stakes in Jio Platforms and retail arm for virtually Rs 2 lakh crore, 49 per cent in fuel retailing venture for Rs 7,629 crore and raised a different Rs 53,124 crore by way of rights problem.
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General Insurance, APL Apollo Tubes: A total of 29 BSE-listed organizations which includes General Insurance Corporation of India, APL Apollo Tubes, Gujarat State Petronet Ltd, Quess Corp, Nucleus Software Exports, Arvind Fashions, Kovai Medical Center & Hospitals, GTL Infrastructure, TGV SRACC Ltd, Roto Pump, and Cupid Ltd will announce their quarterly benefits on June 3.
Wipro: Wipro and Finastra announced a partnership to assist corporate banks across AsiaPacific accelerate their digital transformation. The organizations will produce a exclusive supplying that combines Wipro’s extensive services catalogue with Finastra’s front-to-back trade finance
and money-management options.
Tata Power: Tata Power Solar mentioned on Wednesday it has received a letter of award for an engineering, procurement and building (EPC) contract to construct 210 mega-watt (MW) solar projects for TPC. The total order worth of the projects is about Rs 686 crore and the commissioning date for NTPC is set for November 2022.
Steel stocks: Domestic wholesale steel costs have seen a hike of 4.5-6.2% from the starting of the existing month. The costs doubled in the last one year. Industry sources mentioned, with impact from June 1, steelmakers have raised the wholesale price tag of hot-rolled coils (HRC) by up to Rs 3,000 per tonne taking it to Rs 69,000/tonne in the wholesale Mumbai marketplace.
Muthoot Finance: Muthoot Finance on Wednesday reported a 22.5 per cent on-year (y-o-y) boost in its fourth quarter consolidated net profit to Rs 1,023.76 crore, largely due to very good efficiency of the gold loan division.