Domestic equity market benchmarks BSE Sensex and Nifty 50 were eyeing a positive start on Thursday after markets took a breather in the previous session. S&P BSE Sensex ended at 49,902 while the broader NSE Nifty closed at 15,030. Nifty futures were trading 30.50 points or 0.20 per cent up at 15,065.50 on Singaporean Exchange. Technically, the Nifty 50 index has faced resistance from the upper band of Bollinger, which indicates downside movement for the upcoming session, said an analyst. “Moreover, the recent candle also formed like a Shooting Star Candlestick on the daily chart, which is a sign of some correction. Hourly Oscillator Stochastic has indicated negative crossover, which supports the short-term correction in the near term. At present, the nifty index is holding support at 14940 levels while an upside resistance seems at 15200 levels,” said Sumeet Bagadia, Executive Director, Choice Broking.
Stocks in focus today
Bosch, HPCL, Havells India, JK Lakshmi Cement: BSE-listed companies such as Zee Entertainment Enterprises, HPCL, Brookfield India Real Estate Trust REIT, Torrent Power, JK Lakshmi Cement, KNR Constructions, Relaxo Footwears, Response Informatics, Sterling Webnet, The Investment Trust Of India, Disa India, Electrosteel Castings, Ultramarine & Pigments, Usha Martin, and Virat Industries, among others will announce quarterly earnings on May 20.
Infosys: Infosys co-founder S D Shibulal on Wednesday purchased Infosys shares to the tune of Rs 100 crore through an open market transaction. Shibulal bought over 7.53 lakh shares at an average price of Rs 1,327 per share, valuing the transaction at Rs 100 crore, BSE block deal data showed. In a separate transaction, Shibulal’s wife Kumari sold over 7.53 lakh Infosys shares at the same price of Rs 1,327 apiece.
Adani Green Energy: AGEL on Wednesday acquired 100 per cent interest in SB Energy India at an enterprise valuation of $3.5 billion (approximately Rs 26,000 crore). SB Energy is an 80:20 joint venture between Japan’s SoftBank Group and India’s Bharti Enterprises, and houses 4,954 megawatt (MW) of renewable energy projects across the country.
Indian Oil Corporation: IOC on Wednesday reported a net profit of Rs 21,836 crore on a standalone basis for the fiscal ended March 31, which is nearly 17 times higher from the Rs 1,313 crore profit posted a year ago. This is the highest annual profit ever reported by the state-run oil refining and marketing company.
Biocon: Capital markets regulator Sebi on Wednesday imposed a total fine of Rs 14 lakh on Biocon and its designated person for violation of market norms. Designated person of the firm, Narendra Chirmule, who was employed with the company as senior vice president-R&D is facing a fine of Rs 5 lakh for trading in the company’s securities when the trading window was closed.