News Shots

  • Regarding the PIL on waiver of interest on loans under moratorium, we can understand that interest on such loans are not to be waived. The discussion now is on ‘interest on interest’. The Supreme Court has given time to RBI and the Centre till August to review the situation.
  • Regarding the Telecom AGR issue, The Supreme Court, which will hear the case today, has asked telecom operators to file replies with roadmaps and timelines for the payment of their AGR dues to the government and the security they seek to provide against it.
  • India Cements denied reports that Radhakishan Damani is considering a controlling stake in the company.
  • State-run power giant NTPC said the first 150 MW unit of its Kameng hydropower project (Arunachal Pradesh) is commercially operational.
  • Muthoot Finance reported a 51 per cent increase in consolidated net profit at Rs 3,169 crore for fiscal year 2020, when its loan assets under management rose 22 per cent to Rs 46,871 crore.
  • Aditya Birla Group flagship firm Grasim Industries has raised Rs 500 crore through private placement of non-convertible debentures.
  • Indraprastha Gas Limited (IGL), the largest CNG distribution company of the country, reported a 12 per cent rise in March quarter net profit on the back of higher gas sales.
  • Amara Raja Batteries has migrated to a new enterprise platform SAP S/4HANA, which will enable it to automate and harmonise business processes.

What to expect today?

  • Yesterday, the Indian market was again volatile but with a positive incline but fell towards closing owing to the tension at the border with China.
  • The entire Global Market was volatile and mixed yesterday. The US and European markets were mostly in green while the Asian markets are mostly in red. SGX NIFTY is currently trading lower at 9,776, indicating a gap down opening in the Indian Market!
  • NIFTY is likely to trade between 9,700 and 9,950 today. There is a support at 9730 and resistance at 9,970. 
  • Highest Call Open Interest at 10,000, followed by 10,300. Highest Put Open Interest at 9,500, followed by 9,600. Significant call writing was seen at 9,900
  • FIIs continue to sell and DIIs continue to buy heavily