Nifty futures were trading 203 points or 1.39 per cent lower at 14.457.20 on Singaporean Exchange, suggesting a weak opening for BSE Sensex and Nifty 50 on the first day of the week. In the previous session, the 30-share Sensex ended at 48,782, while the broader Nifty 50 index settled at 14,631. Analysts expect markets to remain range bound as the fear of the continuous rise in covid caseload and extended lockdowns in various states, may cap the upside. “We expect Nifty to trade in the range of 14200-15000 zone,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd. This week, investors would keenly track the state elections outcome and Auto monthly sales data which would keep the market on the edge, while on the global front, key macro-economic data like US Non-Payroll Farms data, US PMI data and BoE monetary policy would be kept an eye on, Khemka added.
Stocks in focus 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 company, the profit of Rs 13,227 crore was attributable to owners of the company, while 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 companies including 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 additional 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 income (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 because of healthy interest income and reduced provisioning. Provisions declined 24% y-o-y to Rs 1,866 crore.
TCS: Tata Consultancy Services said on Friday that Samir Seksaria will take over as the company’s chief financial officer on May 1. He replaces V Ramakrishnan, who retired from the services of the company effective Friday.
Persistent Systems: Persistent Systems reported a 64.35% year-on-year growth in profit after tax to Rs 137 crore for the March quarter, with 20.2% growth in revenue to Rs 1,113.36 crore. Revenue in dollar terms was up 20.3% to $152.82 million during Q4 FY21, with the company reporting growth across all verticals.
Maruti Suzuki, Bajaj-Auto: Auto stocks will remain in focus 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 said it will start a supportive care facility for Covid-19 positive patients. The Ahmedabad-based multinational conglomerate said that Adani Vidya Mandir School situated in Ahmedabad and run by Adani Foundation will be converted into a supportive care centre for coronavirus patients.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.
via India Infoline