News Shots

  • IDBI Bank has announced good profits after losses for 13 quarters
  • Major restructuring in Yes Bank. Also, Yes Bank acquired 24% stake in Dish TV through pledged shares
  • Kotak Bank raises Rs 7,442.5 crore via QIP
  • Andhra Paper has reported higher profits in the latest quarter
  • There has been a bulk buying in Newgen Software 
  • Jubilant Life Sciences has reported revenues at similar levels as before but profis have shot up highly. The Board has also approved issuing NCD (Non Convertible Debentures) worth 100 cr
  • ITC has launched new range of Vegetable and Fruit Wash – Nimwash
  • Blackrock Advisors LLC has offloaded its stake in several companies through bulk deals. They have done huge selling in Equitas Holdings, GNFC, NCC, PTC India, Karnataka Bank
  • HCL Technologies in talks to acquire CISCO’s Self Optimizing Network Technology
  • Infosys has made an official announcement that there numbers in this quarter will be bad as many of their clients have been hit badly by COVID-19

What to expect today?

  • US and Asian markets have closed considerably higher. SGX NIFTY is also trading higher, indicating a positive opening for the Indian markets.
  • Lockdown has been relaxed, the economy is opening and thus, there is positivity in the air. At the same time, we saw the maximum number of COVID 19 cases being reported in a day in India yesterday. Today is a very decisive day which will give an understanding as to how the market will perform in the beginning days of June.
  • Still, looking into various domestic and international factors, the market seems to be bullish as of now. But the volatility is still frightening. We are just one news of a vaccine away from flying high.
  • After NIFTY crossing 9500 strongly, NIFTY is likely to trade between 9500 and 9700. There is a support at 9440 and a resistance at 9660
  • Relaxation in lockdown can lead to positive effects on retail companies like Jubilant Foodworks, DMart, Aditya Birla Fashion etc

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