FRIDAY 

07-MAY-2021

 

Holding 14650 is the key for further upside

FLAT to POSITIVE  MARKET

 

Today’s Market Prediction:

• Indian stock market Would open POSITIVE
• Technically, Indian stock matket is Still in positive zone
• Nifty index formed a small bullish candle on the daily charts.
• India vix up by 0.33% at 22.04
• Indian pharma companies welcome patent waivers on COVID vaccines, says tech transfer needed to scale up
• Bank of England slows bond-buying, raises 2021 growth forecast
• China's April services activity expands at fastest pace in four months 
• IMF to revisit growth forecast for India due to surge in COVID-19 cases
• IRB Infrastructure Developers: Life Insurance Corporation of India acquired over 71.29 lakh equity shares in the company (2.03% of paid up equity), raising stake in the company to 7.06% from 5.03% earlier.
• Zensar Technologies: UK-based FinTech Infinity Circle selected Zensar for end-to-end development of its next-gen wealth management platform.
• Adani Power: The company reported consolidated profit at Rs 13.13 crore in Q4FY21 against loss of Rs 1,312.86 crore in Q4FY20, revenue rose to Rs 6,373.6 crore from Rs 6,172.43 crore in Q4FY20.

Stocks in NEWS

• Aurionpro Solutions: Aurionpro exited from the cybersecurity business with the sale of its investment to Forcepoint LLC., USA. The deal, for the divestment of all stake held by Aurionpro in its cyber security business is valued at a consideration of $9.6 million.

• Tata Consumer Products: The company reported consolidated profit at Rs 53.9 crore for Q4FY21 against loss of Rs 76.49 crore in Q4FY20. Revenue jumped to Rs 3,037.22 crore from Rs 2,405.03 crore in Q4FY20.

• Adani Transmission: The company reported higher consolidated profit of Rs 238.42 crore in Q4FY21 against Rs 94.30 crore in Q4FY20 while revenue fell to Rs 2,726.61 crore from Rs 3,186.96 crore in the year-ago period.

• Raymond: The company reported consolidated profit at Rs 56.45 crore in Q4FY21 against loss at Rs 68.25 crore, revenue rose to Rs 1,365.66 crore from Rs 1,278.65 crore YoY.

• Century Textiles & Industries: The company reported consolidated loss at Rs 8.41 crore in Q4FY21 against profit at Rs 82.11 crore in Q4FY20, revenue rose to Rs 839.39 crore from Rs 786.21 crore YoY.

• Cupid: The company has received a purchase order from Uttar Pradesh Medical Supplies Corporation for supply of 'COVID – 19 Antigen based rapid test kits' worth Rs 10.50 crore.

• Blue Star: The company reported sharply higher consolidated profit at Rs 67.97 crore in Q4FY21 against Rs 8.9 crore in Q4FY20, revenue rose to Rs 1,611.56 crore from Rs 1,299.36 crore YoY.

• Praj Industries: The company reported sharply higher consolidated profit at Rs 52.01 crore in Q4FY21 against Rs 24.86 crore in Q4FY20, revenue jumped to Rs 567.1 crore from Rs 296.29 crore YoY.

Market lndication:

Global:FLAT to POSITIVE

NIFTY: FLAT to POSITIVE

BANKNIFTY: FLAT to POSITIVE

BULK Deals: Vikas Ecotech limited etc....

Stocks In F&O Ban Period: BHEL, Sun TV Network and Tata Chemicals

Results Today: Housing Development Finance Corporation, UltraTech Cement, Dabur India, Automobile Corporation of Goa, Cholamandalam Investment and Finance Company, Duncan Engineering, EIH, Great Eastern Shipping, Glance Finance, Godrej Agrovet, Grindwell Norton, Indo-City Infotech, Kansai Nerolac Paints, Navin Fluorine International, Nitta Gelatin India, Pioneer Distilleries, Ponni Sugars (Erode), Reliance Home Finance, Reliance Power, R Systems International, Sacheta Metals, Steel Strips Wheels, Sutlej Textiles & Industries, Tanfac Industries, and Yash Trading & Finance

SGX NIFTY:  (Positive)

14872     +75.50    +0.51%

 

FII-DII:  FIIs were net buyers of Rs.1222.58 crores whereas DIIs were net sellers of Rs.632.51 crores in cash market for last trading session.

NIFTY (14724): The support for the Nifty is: 14642-14561-14480 and the resistance to the up move is at: 14775-14825-14875 levels.

BANKNIFTY (32827): The support for BankNifty is: 32609-32390-32170 and the resistance to the up move is at 33001-33175-33350 levels.