Nifty futures have been trading 70.50 points or .47 per cent down at 14,922 on Singaporean Exchange, suggesting a weak commence for BSE Sensex and Nifty 50 on Monday. In the earlier week, Indian stock markets have been closed on Monday (Holi) and Friday (Good Friday) for holidays. The 30-share index gained 1,021.33 points or 2 per cent through the week. After the fiscal year-finish investors are back into the market place with more action noticed in the mid and smaller cap space. “The Nifty-50 has once again bounced above the 50 DMA which is a good sign,” stated Rusmik Oza, Executive Vice President, Head of Fundamental Research at Kotak Securities. He added that there is a golden crossover in the Nifty Mid Cap one hundred Index wherein the 50 WMA has gone above the 200 WMA which signals extended term bullish trend. “The start of FY22 has been very good and April month could likely see more action with the start of the earnings season,” Oza stated.
Stocks in concentrate today:
Reliance Industries Ltd: Mukesh Ambani’s RIL stated it has secured approval of its shareholders and creditors for hiving off its oil-to-chemical (O2C) business enterprise into a separate unit. As per directions of the National Company Law Tribunal (NCLT), the enterprise convened meetings of equity shareholders, lenders and unsecured creditors for consideration of a resolution for transferring the O2C business enterprise to a separate subsidiary – Reliance O2C Limited.
SBI Cards: SBI Cards and Payment Services (SBI Card) has been seeing more than 50 per cent of its transactions by means of on the internet payments such as on groceries, utility bills, insurance coverage premium, and hopes the trend to go up additional as point of sale purchases are however to choose up, PTI quoted a major enterprise executive as saying.
Vedanta: Vedanta Resources has stated it contributed Rs 34,018 crore to the public exchequer in India through 2019-20 fiscal. Its general contributions to public exchequers of different nations stood at Rs 34,310 crore through the fiscal year, Vedanta Resources stated in its most recent report.
Adani Enterprises: The enterprise stated its wholly-owned subsidiary, Adani Road Transport Ltd (ARTL), has won a Rs 1,169.10 crore highway project in Odisha from the National Highways Authority of India (NHAI).
Future Retail: The enterprise has informed that Reliance Retail Ventures Limited (RRVL) has extended the timeline for Long Stop Date from March 31, 2021, to September 30, 2021, to full its Rs 24,713 crore deal with Future group to acquire its retail and wholesale business enterprise.
Britannia Industries: The board of directors of the enterprise have declared interim dividend at 6200 per cent i.e., Rs. 62 per equity share of face worth of Re 1 every single for the Financial Year 2020-21. The record date for figuring out the eligibility of shareholders for payment of interim dividend has been fixed as Saturday, April 10, 2021.