BSE Sensex and Nifty 50 are after once more hunting to open in red on Wednesday, right after ending practically a per cent decrease in the prior session. S&ampP BSE Sensex sits at 48,253, down 465 points when the Nifty 50 index closed just beneath 14,500. Trends on SGX Nifty had been hinting at a gap-down opening for the domestic equity market place indices. Technical analysts think that Nifty 50 index has not broken the 14,400 level on a closing basis which signifies the assistance nevertheless holds. “If it crack this level, Nifty could see levels closer to 14000-14100. On the upside, there is stiff resistance at 14700 and until we do not get past that, we will not enter a bullish trend. It is a tight range and traders need to be cautious in their approach,” mentioned Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

Stocks in concentrate today

Tata Steel, Adani Green Energy: As a lot of as 20 BSE-listed providers like Adani Green Energy, Tata Steel, SRF, Adani Enterprises, Deepak Nitrite, Craftsman Automation, and Angel Broking amongst other folks will announce their January-March quarter earnings on May 5.

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RBL Bank: RBL Bank reported a 34 per cent on-year drop in net profit to Rs 75 crore as core earnings declined and provisions rose. The lender’s net interest earnings (NII) declined 11 per cent on-year to Rs 906 crore.

Steel stocks: Steel mills have raised costs by up to Rs 4,500 per tonne from the starting of the month taking the benchmark hot rolled coil (HRC) value in the Mumbai market place to a record higher of practically Rs 68,000 per tonne.

Adani Total Gas: Adani Total Gas (ATGL) on Tuesday reported an 8.2 per cent on-year improve in net profit to Rs 471.9 crore in FY21 on a standalone basis, as the corporation utilised decrease organic gas costs amid drop in demand in the course of lockdowns.

Coal India: With the second wave of Covid-19 affecting more than 5,400 Coal India (CIL) staff and their wards, like contractual workers across subsidiaries, operations have slowed down. However, offtake in April grew on the strength of a stockpile of above 99 million tonne.

Hindustan Aeronautics Ltd: Hindustan Aeronautics Limited (HAL) and Rolls-Royce have signed an MoU to establish packaging, installation, advertising and marketing and services assistance for Rolls-Royce MT30 marine engines in India. Through this MoU. Rolls-Royce and HAL will expand their extended-standing partnership in India and work with each other in the location of marine applications for the initially time.


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