Nifty futures were trading 18 points lower at 15,836 on the Singapore Exchange, a sign of a silent opening for the BSE Sensex and Nifty 50 on Wednesday. Markets have been reaching new peaks for the past few days. Nifty is trading in the uptrend channel on the intraday charts on technical charts and is currently hovering around its upper band. We are seeing an early sign of a rebound in the banking index which can trigger further growth, said Ajit Mishra, VP-Research, Religare Broking. He advised traders to continue their focus on the selection of stocks and avoid adverse bets.
Stocks in Focus
RITES, Nureka: Listed companies on BSE such as RITES, Asahi India Glass, CESC, Commercial Sin Bags, DIC India, Kakatika Cement Sugar, Manksia Steels, Nureka, Preetika Auto Industries, Sokai Ceramics, and Welspun Enterprises will announce their January-March quarter earnings on June 16.
Wipro: Wipro has announced that it has joined the Partnership of the World Economic Forum for new work standard initiatives to establish a healthy, flexible and equitable future of work. The initiative aims to co-build new structures, shape the policies of forward-thinking people, and collectively use tools and technologies to build human-first working standards, which have people.
The heart of the business.
Reliance Industries Limited: RIL’s digital arm Reliance Jio will launch JIO fiber post-paid broadband service from June 17 without charging installation fees on new connections, PTI said, citing a source in the company. The company currently charges Rs 1,500 as an installation charge for the new connection.
Dalmia India: Dalmia Bharat Sugar and Industries on Tuesday said it will increase its ethanol manufacturing capacity to 150 million liters annually from the current 80 million liters starting January 2022. The announcement comes closely after the government decides to meet the target of 20% ethanol blending in petrol by 2025.
Reliance Home Finance: The deadline for reliance home finance (RHF) to vote on bids has been extended till June 19 as some lenders could not cast their votes till Tuesday evening, sources close to the development told FE.
Power Finance Corporation: Power Finance Corporation (PFC) has reported a net profit of Rs 8,444 crore for the fiscal ended March 2021 on a standalone basis, registering a year-on-year growth of 49% from the year-on-year period behind high-interest income and low cost of money.
Jagran Correspondent, Prakash: Franklin Templeton Mutual Fund on Tuesday sold 16.17 lakh equity shares of Jagran Prakashan at Rs 61.79 per share in the wholesale deal of NSE.