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Indian benchmark indices Sensex and Nifty are likely to open lower on Monday following trends in global peers. The Nifty futures were trading 164.50 points or 1.04 percent lower at the 15,585.50 level on the Singaporean Exchange at 7:10 am, indicating a negative start for the broader index in India.
Top stock to look for the day:
NTPC: The company’s Q4FY21 consolidated profit jumped to Rs 4,649.49 crore from Rs 1,629.86 crore in Q4FY20. While revenue dropped to Rs 30,102.6 crore from Rs 30,390.51 crore, YoY.
ICICI Bank: Global rating agency S&P has changed the outlook from negative to stable and reaffirmed the bank’s rating at BBB-. The stable outlook reflects S&P’s prospect that the bank’s capitalisation will remain strong over the next two years, despite some deterioration in asset quality owing to COVID-19 pandemic crisis.
Vedanta: The company has emerged as the highest bidder for Kuraloi (A) North coal mine in Odisha for the commercial coal auction.
Telecom Stocks: Reliance Jio added 79.18 lakh, wireless subscribers, Bharti Airtel added 40.5 lakh new users, while Vodafone Idea gained 10.8 lakh customers during March 2021.
PNB Housing Finance: Sebi has directed the company to pause its proposed Rs 4,000 crore deal with Carlyle group.
Aditya Birla Fashion and Retail: The company has acquired an additional 7.69 percent stake in Finesse, accordingly the company now holds 58.69 percent stake, than 51 percent earlier.
Centrum Capital: The Reserve Bank of India (RBI) gave in-principle approval to Centrum Financial Services to establish a Small Finance Bank (SFB) with Resilient Innovations Pvt Ltd (BharatPe), one of India’s fastest-growing fintech companies, to be an equal partner.
Reliance Home Finance: Authum Investment and Infrastructure Ltd (AIIL) has emerged as the highest bidder for the company with Rs 2,911 crore proposal.
RattanIndia Power: The company reported consolidated profit at Rs 39.28 crore in Q4FY21 against a loss of Rs 511.77 crore in the corresponding period last year. Revenue jumped to Rs 862.13 crore from Rs 294.33 crore, YoY.
Adani Power: The company has emerged as the winning bidder for Essar Power’s 1,200 MW thermal power project in Mahan, Madhya Pradesh.
BHEL: CRISIL has downgraded the PSU’s long-term credit rating to AA-/Negative from AA/Negative reflecting weakening of the business and financial risk profile of the company.
Hinduja Global Solutions: The company reported a higher consolidated profit at Rs 130.31 crore in Q4FY21 against Rs 44.84 crore in the same period a year ago. Revenue increased to Rs 1,563.58 crore from Rs 1,285.7 crore YoY.
GMR Infrastructure: The company’s board has approved the re-appointment of Grandhi Kiran Kumar as Managing Director and CEO of the company for a further period of three years, with effect from July 28, 2021. However, the decision is subject to the approval from the shareholders.
UCO Bank: The bank’s board will meet on June 23, 2021, to consider raising up tier-II capital to Rs 500 crore.
Capacit’e Infraprojects: Promoters Rahul Ramnath Katyal, Rohit Ramnath Katyal and Asutosh Trade Links sold 34,93,297 equity shares or 5.1 percent of the company at Rs 202 a share, amounting to Rs 70.56 crore.
List of companies which are going to declare their quarterly results: Aban Offshore, Bharat Dynamics, Deccan Polypacks, GPT Infraprojects, HBL Power Systems, Info Edge, Jaiprakash Associates, Oil India, Rico Auto Industries, Talbros Engineering, TCNS Clothing and VST Tillers Tractors among others will release their quarterly results on June 21.