- The automobile sector has witnessed increased demand since the relaxation of lockdown. All major companies have reported a surge in sales, as people prefer to stay away from public transport
- RITES to acquire 24 percent stake in Indian Railway Stations Development Corporation (IRSDC) for Rs 48 crore
- Birla Corporation and Honeywell Automation have reported increased profits in Q4
- HDFC reported a 22% drop in net profit to Rs 2,233 crore in its Q4 result, attributed to absence of any dividend from HDFC Bank. RBI had advised banks to conserve capital and avoid dividend
- Reliance has launched JioMart Online Grocery service in more than 200 cities
- Bharti Airtel promoters to sell $1 billion worth of shares, in order to reduce debts
- ITC to acquire packaged spice maker, Sunrise Foods Private Limited, to strengthen its FMCG business
What to expect today?
- Global cues are positive. SGX NIFTY is also trading higher, all indicating a positive opening for NIFTY today
- NIFTY likely to trade within 9000 and 9200. Crossing 9200 can give a good breakout. Expecting to see that some time this week.
- BANK NIFTY and Bank Stocks in particular are hugely over-sold. The RBI announcement on Friday worsened the situation. Still, a short covering is expected very soon