RIL, Bharti Airtel, Tata Motors, GSK Pharma, Route Mobile, L&T, Union Bank of India stocks in focus

Nifty rose sharply and ended almost at the intra day high. The next stop on the upside is 14966-15044 band, said an analyst

Domestic equity market benchmarks BSE Sensex and Nifty, after rising on the first day of the week, are now looking to carry on the momentum further. SGX Nifty was up 157.60 points or 1.05 per cent at 15,113 on Singaporean Exchange, hinting at Nifty 50’s start above the crucial 15,000-mark on Tuesday. The 30-stock BSE Sensex ended Monday’s trading session up 848 points to sit at 49,580.73, while Nifty 50 ended at 14,923. “Nifty rose sharply and ended almost at the intraday high. The next stop on the upside is the 14966-15044 band. A breach of this band could lead to a challenge to the all-time highs of the Nifty (15432). On falls 14824-14850 band could provide support,” said Deepak Jasani, Head of Retail Research, HDFC Securities.

Stocks in focus today

Bharti Airtel: Bharti Airtel on Monday reported a consolidated net profit of Rs 759 crore for the January-March quarter of FY21, and an annual turnover of more than Rs 1 lakh crore for the first time. The company had posted a loss of Rs 5,237 crore in the same period a year ago.

Panacea Biotech: Serum Institute of India CEO Adar Poonawalla on Monday offloaded his entire stake in Panacea Biotec amounting to 5.15 per cent shareholding of the firm for Rs 118 crore, through an open market transaction. The shares were picked by Serum Institute of India (SII), according to PTI. As per BSE block deal data, Poonawalla sold 31.57 lakh scrips, he held in the firm at a price of Rs 373.85 per share, taking the total deal value to Rs 118.02 crore.

Tata Motors, Canara Bank: BSE-listed companies such as Aarti Industries, Abbott India, Torrent Pharmaceuticals, Ujjivan Small Finance Bank, Tata Motors, Canara Bank, Brigade Enterprises, Chalet Hotels, Coromandel Engineering Company, Dolat Investments, GSK Pharma, Jindal Stainless (Hisar), JSL Industries, Jyothy Labs, Minda Corporation, PI Industries and Route Mobile will release quarterly earnings on May 18.

Reliance Industries Ltd: RIL’s subsidiary, Reliance Jio Infocomm Ltd is constructing the largest international submarine cable system centered on India. Jio, in conjunction with several key global partners and world-class submarine cable supplier SubCom, is currently deploying two next generation cables to support the extraordinary growth in data demand across the region.

Larsen and Toubro: L&T’s guidance on order inflows for FY22 looks aggressive to analysts tracking the company, while that on revenue and margins looks achievable. The company on Friday said it expected to exit FY22 with a growth rate that could range anywhere up to low- to mid-teens in terms of order inflows and revenues.

Union Bank of India: Union Bank of India said it has approved raising of Rs 1,750 crore through qualified institutional placement (QIP). The committee of the directors for raising capital funds at its meeting held on May 17, 2021, has approved raising of funds for an amount not exceeding Rs 1,750 crore through the issue of equity shares through QIP.

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